Data as a secure asset

Raúl Hernáinz Ortega    28 September, 2021

Data Management Summit as a preamble

We are approaching one of the events where Telefónica will be present, and not only present, but also participating with its best professionals. An event that we believe will be a firm commitment to bring the target audience closer to obtaining the value represented by data as knowledge. This is the Data Management Summit Spain 2021. An unbeatable opportunity to share experiences, guiding the community around the management and use of data within the technological landscape, encouraging the exchange of best practices that the various speakers will offer on different topics.

To the ‘sound’ of the European Union

The European Union is setting the pace, and in order to drive digitalisation it is working on generating a strategy to enable data sharing and commercialisation. This moment of transition is a perfect time to take advantage of this data. But be careful, making proper use of data does not mean “free bar”, and in all of this, the good use of data must be prioritised, with a focus on protection and privacy. It is necessary to talk about terms such as transparency, ethics, corporate social responsibility and, in short, data sovereignty and empowerment.

Blockchain as an enabler of exchange

And this is where one of the current trends that ensures the protection and privacy of the information generated is Blockchain technology. Exchanging information with guarantees and trust, complying with current regulations regarding personal data, means that the portability of this data can be as accessible as it is secure and anonymised. This was already stated some time ago in the fundamental motto that underlies the FAIR principles:

“Data as open as possible, as secure as necessary”

Under this motto and in the current context, the exploitation of personal and non-personal data to be consumed should require a specific design of authorship. With Blockchain, the traceability of information through a certification process is already a reality. By alluding to the concept of ‘security as it is’ and by means of a digital signature, it is possible to justify at all times what data is being shared and by whom, thus not only increasing security, but also guaranteeing non-repudiation. This constitutes an easy way to verify that sender and receiver have shared information, making it impossible to hide its obviousness and making it a suitable way to prevent fraud.

Conclusion

Guaranteeing the reliability, integrity and availability of data is essential. The data producer-consumer phenomenon as an e-commerce platform is becoming increasingly fashionable. And topics such as Data Sharing Agreements (DSAs), Smart Data Contracts (SDCs) or Data Marketplaces, making use of Blockchain technology, are undoubtedly of special interest and should not be missed at the event on the 27th and 28th of October.

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