We live in a world in which everything is becoming a transaction, resulting in lots of data floating around. Data sovereignty is key to restoring people’s trust in data sharing so that organisations can tap into the full potential of the transactional internet. Douwe Lycklama, founding partner of INNOPAY, explains more about the importance of data sovereignty in this interview with The Paypers, a leading source of news and intelligence for professionals in the global payment community.
Data sovereignty revolves around putting consumers and businesses in control of their data assets without having to store the data centrally. This can be achieved by each data holder implementing a standardised, interoperable and legally sound identity and consent mechanism. In the interview, Douwe also addresses topics such as creating digital trust, platformisation and schemes for data sharing.
Have Douwe’s insights inspired you to find out more? For a more comprehensive understanding of data sovereignty, read the award-winning management book Everything Transaction.