- Governments are taking action to regulate, limit, or eliminate the use of third-party cookies that collect user information
- The European Union ePrivacy Directive requires parties to obtain user consent before sending cookies
- Google intends to phase out support for third-party cookies from its Chrome browser in 2024
- Reklaim’s fully consensual, consumer-verified data ecosystem offers a high-quality, fully compliant solution to advertisers and data companies while rewarding users for providing access to data
The online advertising industry is transforming rapidly as governments take action to regulate, limit, or eliminate the use of third-party cookies. As a result, Reklaim (TSX.V: MYID) (OTCQB: MYIDF) is strongly positioned to serve marketers’ needs by offering fully-compliant data solutions while rewarding consumers for providing access to their data through its mobile identity ecosystem.
Cookies are small text files websites send to devices that mine and store data from the user’s browsing activities. While the cookies themselves cannot harm the device, they can store enough data to potentially identify and track users across the internet.
Some cookies — such as those that hold items in an online shopping cart — are necessary to enhance the e-commerce experience. Others, such as marketing cookies, track online activity to deliver relevant advertising based on the user’s browsing history. Marketing cookies share user information with other organizations, allowing these companies to ‘bid’ on consumers’ data profiles before serving them an advertisement.
Advertisers and brands leverage a wide range of data mined by marketing cookies, including user clicks, e-commerce preferences, location, and search history. To protect user privacy, the European Union passed the ePrivacy Directive (“EPD”) in 2002, requiring parties to (a) obtain consent before sending cookies, (b) provide detailed information about the data tracked before requesting permission, and (c) allow users to withdraw consent (https://ibn.fm/zlZiN) easily. Similar laws worldwide have either been passed or are currently under investigation, including in the United Kingdom (https://ibn.fm/CbSqx) and Germany (https://ibn.fm/sDw4Y), and the state of California (CCPA/CPRA), by far the most disruptive to the data ecosystem.
In addition to government regulations, tech companies are developing privacy-first alternatives to regulate or eliminate third-party cookies. One example is Google’s plan to phase out support for third-party cookies from its Chrome browser in late 2023 (https://ibn.fm/6888x), while Apple introduced the removal of device tracking in 2021 via its Advanced Ad Tracking Tool.
With both a cookie and device tracking future rapidly emerging, brands and advertisers are looking for new options. Reklaim aims to fill that void with addressable consumer-verified data generated in an ecosystem that rewards users for sharing valuable information about their shopping habits and brand preferences.
Reklaim’s data solutions offer more than just compliance. The data generated through its platform is current, high quality, and of greater relevance because users are actively choosing to share their information. By offering compliant, first-party data to brands, advertisers, and data companies, Reklaim is filling a void that regulators have created while allowing consumers to take control of their online input by receiving compensation.
For more information, visit the company’s website at www.ReklaimYours.com.
NOTE TO INVESTORS: The latest news and updates relating to MYIDF are available in the company’s newsroom at https://ibn.fm/MYIDF
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