FAQ
FAQ
What is Transac?
Transac is a Data Licenced holding company providing the following business services to its customers:
Data & Privacy protection rights service (Right to be forgotten, Cyber abuse and harassment)
Data & Privacy protection legal service (Cyber abuse & harassment; digital estate management): this service is provided under a legal protection insurance cover.
Recruitment service for the temporary workers
Credit reference service
Online banking service
Under the terms and conditions of the Data Licence Agreement, you give your full consent to grant to Transac the exclusive, limited right, non-assignable Licence to hold the rights to your data under the terms of which Transac has the duty to provide data and privacy protection rights service and to pay you money when authorising companies to have access to your data.
Why do I need to use Transac?
You create data every moment of every day whenever you browse on the internet or you move from one place to another with your mobile phone. This data is collected by a myriad of small and large tech companies. Did you know that this data is yours? Did you know the law gives you the right to say no, to say who keeps or uses your data? Transac’s purpose is for you to take control of your digital self and control who sees and uses your data and for what purpose.
Your data is personal, your data is valuable. You can even bank it. You decide if you want information removed, if you want to give permission or remove it. If you decide to allow big tech to profit from your data you can and should be paid for it. You need Transac to act like a tap, on or off collect money from your data flow or turn it off. Transac can also gather your financial credit history information for you – it’s your data, it’s your history, it your behaviour, Transac is your tool to taking back control.
Transac also helps you plan with loved ones what to do with their profiles and data in the event of a death.
Is my data safe with Transac?
Yes. The direct information you place with Transac is protected by blockchain technology. You give Transac permissions to act for you with the data controllers – the tech companies who have collected your data –
How much does Transac cost?
The Transac App is free to download and use. However, to enable to cover the cost for providing the data and Privacy protection rights service and other business services, you would have to pay a registration fee of £ 20.
To benefit from the whole range of data & privacy legal service, you would have to take up a legal insurance cover for £ 80 per year.
How much will I receive from Transac?
At this early stage, it would seem presumptuous to predict how much you are likely to receive every year as the value of your data is mainly affected by two factors: the time you spend browsing on the internet and the value of your online transactions you are making per month.
Furthermore, if you are a temporary worker and if you are using the online banking service, you are likely to receive a much higher payment, which could run from hundred to thousand pounds sterling.
Build trust | Secure your data | Monetise your data
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