As the digital transformation accelerates, every interaction is becoming a transaction and new kinds of value form the basis of new business models. Trust-based ecosystems of data, so-called ‘data spaces’, are necessary for data to be gathered, made available and shared easily and transparently between all kinds of national and international organisations.
At INNOPAY, we believe that it is only with trust – full confidence that the system will work reliably, truthfully, and safely – that it will be possible to reap the full potential of the digital transactions era. We have therefore joined forces with ‘Team Data Spaces’ to facilitate the development of ‘soft’ infrastructure that will put trust at the heart of every data space. In turn, this will give companies and individuals full control over the data they generate (‘data sovereignty’).
Hard infrastructures found in everyday life, such as roads, railways and the electricity grid, have long been the foundation of health, wealth and economic growth. Likewise, the mobile communication infrastructure called GSM redefined the global telecom industry in the 1980s. Creating an equivalent set of requirements or ‘soft’ infrastructure in the data domain will have a similar effect on the data economy by enabling sound data-sharing and forming the basis for a thriving human-centric data economy.
Click here to read more about INNOPAY’s involvement in Team Data Spaces.