VirtualVet business model is the future of data
Updated: Jul 1, 2020
The influential and thought provoking Jaron Lanier this week launched a brief series of videos on The New York Times.
In Episode 2, Lanier describes MID (Mediator Individual Data). VirtualVet is a MID. We are working hard for our members (farmers) to generate value for their animal health data.
While a more detailed version of our business model is described in the 2017 article by Dr Pat Lynch here, we are pretty delighted to have our vision strengthened by this latest and very high profile thinking and vocabulary.
The importance of vocabulary can’t be understated. Without the existence of GDPR, discussions about data theft/value, and even the EU Commission dedicating an executive vice president to ensuring Europe is “fit for the digital age”, we in VirtualVet would find it much more difficult to get the buy-in and support we enjoy from our farmers, vets and partners in agri-food etc.
VirtualVet sees the value of on-farm animal level digitally accessible data on all animal medicine use. These data, once digitised can contribute to veterinary and animal health research, surveillance of drug efficacy by pharmaceutical industry, monitoring of medicine levels in supply chain by agri-food processors, tracking and benchmarking of herd/flock/farm performance by farmers and their vets…..and these are just some of the uses. All of these uses actually generate real value for the actors involved. VirtualVet is the data broker to manage the transactions and deliver that value along the value chain.
The vision still excites us, especially as we make progress in the implementation and see the real benefits we help to generate.