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There are several challenges related to data sharing, which have been discussed in earlier opinion pieces. One of them is trust between consumers and businesses that would like to use their data. While especially consumers could benefit from the innovative solutions and customised products and services that can be developed, they are often sceptical about sharing their data with businesses. Their willingness to share data depends on the amount of trust they have in a business’ ability to safeguard the data and to use it for the right purposes – which is often low.
On the other hand, there are challenges from the business’ side to engage in data sharing. Some examples are a lack of systemic approaches in facilitating data sharing and difficulties in ensuring compliance with regulations. Moreover, it is challenging to establish trust between partner organisations to share data and to address concerns regarding exposure of trade secrets or loss of a competitive advantage.
To address these challenges, the Trusted Data Sharing Framework was launched in June 2019. It was launched by Infocomm Media Development Authority (IMDA) and Personal Data Protection Commission (PDPC). The framework’s provides organisations with a common language to discuss data sharing and to help them overcome its challenges. It aims to guide organisations through the data sharing journey and outline key considerations for organisations to take into account when planning data partnerships. The Framework focusses on four areas:
1. Data sharing strategy
2. Legal and Regulatory considerations
3. Technical and organisation considerations
4. Operationalising data sharing
We expect this new shared language or shared terminology to enhance organisations’ confidence in and willingness to engage in data sharing. By introducing this framework, organisations around the world can move towards stronger safeguards and clarity on regulatory compliance. In turn, by helping to ensure regulatory compliance and trust with organisations, consumers will be more accepting of sharing their data. Consequently, this will benefit them by leading to personalised goods and services.
In short, the framework aims to facilitate data sharing with the intent of driving the development of new products and services and to establish consumer confidence that their data will be safeguarded. Given that the Trusted Data Sharing Framework only recently launched, it will be interesting to observe how it turns out and how this translates around the world. We are curious to see how initiatives like this can break down barriers for organisations and consumers alike to open up the plethora of benefits that data sharing can bring about.
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