Riddhiman Das, CEO TripleBlind, on Breaking Data Monopolies

HackerNoon Reporter: Please tell us briefly about your background.

Throughout my career, starting in my early teen years when I created my own programming language, I have been involved in a number of successful startup tech companies, including Dr. Peet's Software, TalentHelix, Galleon Labs, and EyeVerify. I am grateful to have been recognized by renowned, well-respected individuals, including being named one of 11 Champions of Change in 2013 and meeting Barack Obama and receiving a Microsoft scholarship, and meeting Bill Gates.

I co-founded and currently serve as the CEO of TripleBlind, a company that allows for encrypted data sharing. Since coming out of stealth mode in November 2020, TripleBlind has secured seed funding from renowned investors, including Mayo Clinic, BC Platforms, Snowflake, Okta, Dolby Ventures, Accenture, and NextGen Venture Partners.

What's your startup called? And in a sentence or two, what does it do?

TripleBlind has created a new data privacy solution that enables highly-regulated enterprises like financial institutions and healthcare systems to gain and share data without ever decrypting it.

What is the origin story?

When Greg Storm and I co-founded TripleBlind, we saw a void in privacy-enforced data and algorithm interactions. These interactions have the ability to unlock the tremendous value of sensitive data currently trapped in private data stores and proprietary algorithms.

We can create a new paradigm of compounded value by enabling free collaboration around sensitive data and algorithms without compromising privacy.

What do you love about your team, and why are you the ones to solve this problem?

TripleBlind’s team is composed of subject matter experts in data privacy for industries like business, healthcare, and finance. Since its inception, TripleBlind has always had access to the best minds in our field, whether via employees, investors, or industry colleagues. I appreciate the guidance and help we have received since the beginning stages of TripleBlind.

If you weren’t building your startup, what would you be doing?

If I was not involved with TripleBlind specifically, I would be involved in another company that aims to move away from monopolies of data.

At the moment, how do you measure success? What are your core metrics?

I believe I'm still in the beginning stages of my success. I have worked in several countries across the globe and gained so much knowledge and advice from brilliant peers. Now I’m in a position where I’m in charge of a start-up that has created a solution that’s “too good to be true.” I'm proud of working with big names in the healthcare and financial services space and knowing that it will change the projection of data privacy and sharing.

What’s most exciting about your traction to date?

Being able to identify new customers and partners has been exciting. We are proud to work with some outstanding businesses and organizations in the financial services industry as well as healthcare, like Mayo Clinic, Accenture, Snowflake, and BC Platforms. In March 2021, we announced that we secured $8.2 million in funding. That was a huge step for us.

It has also been exciting to work with enterprises and identify what our solution can enable for them and the possibilities that we are able to unlock for everyone.

With our solution, healthcare systems can create better diagnoses because they can access more diverse data sets that enable diagnostic algorithms to be more accurate.

With financial services working with TripleBlind, companies can stamp out fraud by sharing data to look for anomalies in customer account activity.

What technologies are you currently most excited about and most worried about? And why?

I am very excited about TripleBlind’s data-sharing solution. We have developed a way for businesses to collaborate in a way that will create positive change in a multitude of industries. The opportunity to unlock privacy in industries like healthcare and financial services will create more equity in diagnosis and treatment and more security in fintech.

Alternately, as more places around the world create new laws surrounding data privacy, other forms of collaboration are being implemented that have issues and pitfalls that lead to detrimental data breaches and other issues.

What drew you to get published on HackerNoon? What do you like most about our platform?

Hackernoon offers readers an accurate look into tech issues and advancements that might be otherwise inaccessible. We’re grateful to be recognized with other startups by Hackernoon.

What advice would you give to the 21-year-old version of yourself?

To myself and all other 21-year-olds, I would say to keep pushing despite any feelings of complacency or being stagnant. Entrepreneurship takes unending grit, and that is what will set you apart.

What is something surprising you've learned this year that your contemporaries would benefit from knowing?

We have been keenly aware of this year is the increase in data privacy laws around the world. While GDPR and HIPAA are the two whales that we all hear about daily, people should be aware of the different laws being discussed state-by-state across the U.S., which can make it even more difficult for enterprises to share data.