MIT Technology Review talks in its latest issue about the European Union's new data protection plan, which calls for a citizen-run marketplace for personal data.
The European Union has long been a trendsetter in privacy regulation at the European level. The technological transformation that has taken place in recent years has transformed the European economy and society, forcing the need for regulation to protect European citizens and their digital data.
With this, the European Union wants to promote the responsible use of each individual's digital data by building a secure personal data network. The new European data management strategy presented by the European Commission in February 2020 describes the measures that will be implemented over the next five years with a novel approach. It not only protects individual privacy but also promotes the exchange of data by individual citizens in return for compensation. Personal data becomes a valuable asset and the citizen decides how they can make use of it. In other words, the idea is to build an internal market composed of individuals and companies of all sizes and different industries competing to obtain certain data for exploitation.
The citizen as owner of his own data
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This ambitious project requires a strong legal framework and a strong digital structure to become a leading model and exportable to other countries that do not enjoy such a strong privacy policy. With this new approach, European citizens become not only owners but also managers of their own personal data through a secure and reliable platform that allows them to benefit from their own information and contribute to a secure, fair and democratic data traffic environment.
The DataVaultsproject, in which MIWenergía is involved, aims to provide a reliable and secure platform that integrates all types of data from various sources allowing the European citizen to make decisions about their digital data by putting them in value and monetizing them under the conditions set by the user. If you want to know more about this project you can visit their website: https://datavaults.eu/
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Link of the news from the MIT digital magazine.
Link to the European Commission's document on the new European data strategy.
