Every day, car owners make decisions that accumulate data, from what music they listen to and where they go to get their car repaired to which company they are insured with. What they may not know, however, is just how valuable this data is. With this information, companies could fundamentally shift their marketing and development strategies.

This is where MyAutoData (MAUD) comes in. This Munich-based startup wants to give consumers access to this data, as well as the opportunity to profit off of it. MAUD will function as a closed ecosystem, but membership for both companies and vehicle owners is free. Aside from these data functions, MAUD offers tailored services to customers upon request, like deals on insurance or car repairs. This also benefits companies that can acquire new customers without high advertising costs.

At first glance, this may appear to break data protection laws. The app has some key features, however, that ensure compliance. First, companies only ever see aggregate data, and the system itself is encrypted and spread over multiple servers. Companies are also not allowed to transfer the data out of the software, and vehicle owners can select at any time which data they want companies to have access to. Finally, the company that helped create the software has experience with giants like eBay and PayPal.

And with the MAUD software and app being compatible with a variety of browsers and operating systems, this innovative offer is certainly worth checking out.