Another Data Marketplace: Amazon, Microsoft, Oracle, or Other Provider for This Construct?

August 31, 2020

The European Union is making a sharp U-turn on data privacy, we learn from MIT Technology Review’s article, “The EU Is Launching a Market for Personal Data. Here’s What That Means for Privacy.” The EU has historically protected its citizens’ online privacy with vigor, fighting tooth and nail against the commercial exploitation of private information. As of February, though, the European Commission has decided on a completely different data strategy (PDF). Reporter Anna Artyushina writes:

The Trusts Project, the first initiative put forth by the new EU policies, will be implemented by 2022. With a €7 million [8.3 million USD] budget, it will set up a pan-European pool of personal and nonpersonal information that should become a one-stop shop for businesses and governments looking to access citizens’ information. Global technology companies will not be allowed to store or move Europeans’ data. Instead, they will be required to access it via the trusts. Citizens will collect ‘data dividends,’ which haven’t been clearly defined but could include monetary or nonmonetary payments from companies that use their personal data. With the EU’s roughly 500 million citizens poised to become data sources, the trusts will create the world’s largest data market. For citizens, this means the data created by them and about them will be held in public servers and managed by data trusts. The European Commission envisions the trusts as a way to help European businesses and governments reuse and extract value from the massive amounts of data produced across the region, and to help European citizens benefit from their information.”

It seems shifty they have yet to determine just how citizens will benefit from this data exploitation, I mean, value-extraction. There is no guarantee people will have any control over their information, and there is currently no way to opt out. This change is likely to ripple around the world, as the way EU approaches data regulation has long served as an example to other countries.

The concept of data trusts has been around since 2018, when Sir Tim Berners Lee proposed it. Such a trust could be for-profit, for a charitable cause, or simply for data storage and protection. As Artyushina notes, whether this particular trust actually protects citizens depends on the wording of its charter and the composition of its board of directors. See the article for examples of other trusts gone wrong, as well as possible solutions. Let us hope this project is set up and managed in a way that puts citizens first.

Cynthia Murrell, August 31, 2020

Comments

One Response to “Another Data Marketplace: Amazon, Microsoft, Oracle, or Other Provider for This Construct?”

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