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Published February 10, 2020

In the fair data economy trust lays the foundation for new value creation models

The foundation of trust in a trust-based data network is established when socially responsible actors agree on their roles and co-ordinate them with the help of fair, responsible and transparent shared rules.
Writer
Jaana Sinipuro
Author's profile page: Jaana Sinipuro PROJECT DIRECTOR, IHAN - FAIR DATA ECONOMY PROJECT

 

The fair data economy is based on the principle of trust. In open data sharing ecosystems, the foundation of trust is established by rules that are documented and agreed together. Without common rulebooks, the costs of data sharing agreements in multilateral data networks are too high. 

The preparation of the rulebook, started under the umbrella of Sitra’s IHAN project in the winter of 2019, is only one example of our various co-operation projects, with which we aim to create the foundation for a fair data economy.

Sitra’s business survey implemented in Europe last summer suggests that GDPR regulation may indeed pose a competitive edge for European companies building their business and value propositions around data sharing. At IHAN we believe that alternative value creation models and rules for data sharing are needed to restore trust between individuals and companies. This is possible in new, human-driven data economy models.

The foundation of trust in a data network is established when socially responsible actors agree on their roles and co-ordinate them with the help of fair, responsible and transparent shared rules.

 

Turning the fair data economy into new operating models

Under the theme New Data Economy Rainmakers, we invite different social actors to solve problems related to companies benefiting from the fair data economy. 

Influencing the ways of thinking among all levels of society is essential. 

  1. Companies must be helped to see the benefits of new business models.
  2. Individuals must become more aware of how their everyday life generates data and must be better able to take control of their everyday digital life, too.
  3. Sceptics must be shown that it is possible to combine modern technologies with the competence of ethical experts.

The “super days” of the project are still ahead when we will discuss trust in the digital age at a number of different events. 

We believe we can strengthen the fair data economy when investors, companies and individuals together seek new options based on a more sustainable value system. 

 

Several practical pilots have already started, with many Finnish organisations looking for new growth through new services.

Stay up-to-date with what is happening in the field of the fair data economy. We monitor the era of data economy and gather interesting articles, researches, blogs, videos for you once a month.

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