Podcast about Self-Sovereign Data on BFM89.9
Our CEO, Professor Irene Ng was interviewed by Richard Bradbury at BFM 89.9 last week:
Highlights (Part 1)
Self-Sovereign Data Amplifies existing products, businesses and brands, improving engagement with customers and can build greater trust.
Data producers are paid when the data the data they make self-sovereign is used by their customers.
There still needs to be guardrails on its use for both the customer’s own good and for society.
Facebook data was made self-sovereign as part of Dataswyft’s pilot in Brazil, and made into a credit score for sharing by unbanked customers, increasing micro-loans for the lender.
Highlights (Part 2)
Blockchains decentralize data. Self-sovereign Data comes from decentralized data processing and decentralize legal entities. Both would enable web3 to accelerate, making things faster and more efficient.
The “lanes” between the decentralized data processors are the “17th lane” of the Internet superhighway.
Regulations are still relevant because when the data lands on a data processor, it’s a legal node that belongs to a legal person (individual or business) of a country and services serving that legal person (and use of that data) would have to be regulated based on that country E.g. if it was a financial or health service.
Self-Sovereign Data would distribute AI processing, creating greater autonomy and a hybrid of edge and centralized AI
Self-Sovereign Data moves on the “information superhighway” of the Internet. It’s business model is toll based so if data is valuable to be moved, the toll should be paid.