Written by The benefits of data sovereignty
By making data sovereignty a central design principle of the data economy, we can realise significant benefits, including:
- People can easily switch providers, and enable their data to be commercialised by businesses (and also receive a fair share of the benefits)
- Businesses can trade more easily, securely and cost-effectively with other businesses (even those outside their regular physical supply chains)
- All parties holding data can offer consistent functionalities and ways of working to their customers, suppliers and employees
- The free flow of data will increase, thereby stimulating more and faster commercial innovation to create new kinds of data-enabled business models that generate new services
- The dominance of the Big Tech giants will be reduced since customer data will no longer be ‘locked in’. This will level the digital competitive playing field, making it easier for other organisations to enter the market with innovative products and solutions, and creating a healthier growth climate for start-ups and scale-ups.
Do you want to know more about the benefits of data sovereignity? Download the executive summary about: Stimulating the Digital Economy by introducing the Principle of “Data Sovereignty”
Return to news overview