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The goal is a trusted destination for data for all users. The greatest competitive advantage is loyal users.
A classic investor question is, what is your competitive differentiation?
These days, it’s particularly poignant. User awareness finally hit a point where the levee broke. There’s a mad dash into the market of user data, and with any new, giant market opportunity, there are all sorts of ideas, offerings, and behaviors — real, fake/scams, good, and concerning.
If we focus on those with real progress, there are three types of competitors in the user data space.
Companies like Fetch Rewards & Killi are “get paid for your data” types. They’re essentially pursuing becoming a new age version of the big user market research companies we all know like Nielson except with the spin where users get some compensation. A common example is Killi’s feature of “take a photo of your phone bill and get paid $5”.
Companies like Jumbo & The @ Company are building apps for privacy-focused users. These are generally targeted towards a much techier audience, similar to the user base of VPN apps. They offer various features like making it easier to file a GDPR request, get data breach notifications, or get a detailed breakdown on your data.
Companies like Streamr & Inrupt are focused on building new core tech, like networks, protocols, and standards, to address the issues with user data. These systems require buy-in from companies and often users.
TIKI’s approach is quite different.
Before we did anything, before even incorporating the company, we decided on 3 values — User-centric, transparency, trust. The goal is a trusted destination for data for all users. The way to build trust in a trustless world is to 1) don’t hide anything. Everything we do is transparent & public, our code, our designs, our plans, our vision, you name it. It’s on our blog. 2) User-centric always. When the hard decisions inevitably come, always pick the user-centric answer.
The greatest competitive advantage is loyal users.This is why we open-sourced our code, even against traditional thinking. Building user trust is more important. This is why, early on, we focused on building an active community with over 1100 discord members & 850 telegram members. To be user-centric, you must be in it with the users.
Finally, we build technology not for the techies or those who can afford privacy but for everyone. Everyone in the world deserves the right to choose what happens to their data. We are quite firmly “not tech” and aren’t afraid to do things differently (our app is goofy with dancing pineapples); it’s the main reason for raising crowdfunded capital as opposed to traditional venture capital. Data is a universal problem; we’re building a solution for users.