Over my 30 years of working in data, research, collection, and collaboration with governments, global organizations, and Ivy League universities, I’ve seen firsthand how data has transformed the world.
As the CEO of a pioneering data organization that has launched one of the world’s most advanced data management platform, I believe it’s time to define and shape the future of data usage—specifically through concepts like Data Unions, Data Sharing, Data Exchange, and a Transparent Digital Economy. These terms may seem technical, but their implications are profound and essential for the future.
Also Read: Technological Frameworks for Data Governance in India
Data Unions: Empowering People, Transforming the Future
Think of Data Unions as a digital version of credit union or labor union, but instead of pooling money or labor, people contribute their data. When organizations or companies access or use this data, the individuals who contributed receive a portion of the profits.
Data unions are built on the idea of fairness and transparency, allowing individuals to regain control over their data and be compensated for its use. Traditionally, big tech companies collected data without offering users much insight or reward. A data union flips this model by ensuring individuals have a say in how their data is used and receive compensation when it’s accessed.
This framework is also known as “bottom-up data governance” because it gives power back to the people, instead of being controlled by top-down entities. By joining a data union, users collectively bargain and can create valuable data sets that were previously unavailable to companies, fostering a more transparent and fair digital economy.
However this is only a fraction of value anyone sees in Data unions. The real value is world changing with better governments, services and overall welfare.
What will change
Today, governments and companies invest substantial resources in collecting data for various purposes. Governments use data to improve public services, implement policies, create laws, and design welfare schemes aimed at enhancing the well-being of their citizens.
This includes data from sources like censuses, healthcare systems, and economic indicators. On the other hand, companies collect data to better understand consumer behavior, optimize their products and services, enhance advertising strategies, and expand their market reach.
Despite these efforts, both governments and companies often miss out on valuable data that could be repurposed for broader applications. Data gathered for one specific purpose, like advertising, may hold untapped potential in sectors like healthcare, infrastructure, or public policy. Since, data is typically siloed, limiting its use beyond its original intent.
Imagine a world where a Data union can create extremely valuable data sets that were previously unavailable to companies or governments. This alone transforms how businesses and governments operate, creating a win-win scenario.
Whether it’s healthcare, insurance, or education, companies can provide tailored solutions that truly matter to you, enhancing your daily life. No more irrelevant ads or one-size-fits-all offers. Instead, you get services and products that fit your unique needs, while companies become more efficient, innovative, and customer-focused.
Now, let’s take the government side of things. Imagine governments having the ability to understand your needs better through shared data, leading to more personalized public services. They could offer scholarships perfectly aligned with your educational background, ensure affordable energy and water for your household, and provide subsidies that genuinely make a difference in your life. With your data in hand (securely and transparently), the government could create public services that are not just reactive but proactive, anticipating your needs before you even realize them. This means faster assistance, more efficient programs, and services that are directly relevant to you.
If this becomes a reality, we’re talking about reshaping the entire world. Industries will be transformed—the power dynamic shifts to consumers, who now control how their data is used. This will compel businesses to treat data more ethically, ensuring that trust, transparency, and innovation thrive in the global economy.
We’d also see a massive leap in efficiency and affordability—better services available on demand, at lower costs, and tailored exactly to individual needs. The future would not just be more connected but more empowered, with data driving a more just, efficient, and ethical world for everyone.
Current examples of Data unions
A prime example of Data Unions in action is the Streamr project. Streamr is one of the pioneers in this space, creating a decentralized platform where individuals can sell their data to interested buyers while maintaining control over who accesses it.
Another emerging player is Ocean Protocol, which builds decentralized data marketplaces. It empowers individuals to decide how their data is used while providing transparency through blockchain technology.
By putting data ownership in the hands of individuals, companies like Streamr and Ocean Protocol are leading the charge toward a more equitable digital economy.
Data Sharing: A New Era of Transparency
Data sharing is all about empowering individuals to control their personal data and decide how it’s shared, used, and monetized. Instead of companies and governments collecting data in ways that often lack transparency, data sharing through a user-centric model ensures that people have a say in who accesses their data, what it’s used for, and how it benefits them
While monetizing data through Data Unions or other initiatives is a clear benefit, data sharing has far-reaching effects beyond financial gains. It can drive personalized services, fosters innovation, strengthens trust, improves public services, and contributes to global sustainability and problem-solving.
So If I have to look at I would look data sharing as tool or initiative that can lead to a more equitable digital economy. It helps fosters a transparent relationship between individuals, governments, and companies where data is shared ethically, and everyone benefits which is far more than just monetization. Data sharing, beyond just making money, has the power to transform lives.
Early examples of Data sharing
Some examples of early initiatives or versions of Data sharing ecosystem at play are
- MyData Global initiative, which is pushing the world toward ethical data sharing practices. Based in Finland, MyData works with governments, organizations, and tech companies to ensure that data sharing happens transparently, with clear consent from individuals.
Through partnerships with businesses and policymakers, they aim to create a data-sharing ecosystem where consumers understand exactly how their data is used and are compensated or rewarded accordingly.
- Apple have made strides in improving transparency around data sharing, particularly through their privacy labels on the App Store, which inform users of how their data will be used before they even download an app. Apple has placed consumer privacy and transparency at the forefront, setting a new standard for data sharing practices.
Data Exchange: Unlocking Innovation
Data exchange refers to the secure sharing of data between different organizations, sectors, or individuals, enabling them to access, use, or collaborate on data for mutual benefit. In a data exchange, data is transferred from one party to another through agreed-upon protocols, ensuring privacy, security, and governance are maintained throughout the process.
Think of data exchange like a library. In a traditional setup, each company or organization is like a person with their own private collection of books (data) locked away. They might have valuable information, but it’s only useful to them, and no one else can benefit from it.
A data exchange is like creating a shared library where organizations can lend and borrow books from one another. Each book might have different rules—some might only be read in the library (secured access), others could be borrowed (shared data), and some might be restricted (privacy concerns). This shared access allows everyone to learn from each other, innovate, and create new ideas by combining knowledge.
In the same way, data exchange allows organizations to share their data securely with others, unlocking opportunities for collaboration, innovation, and more informed decision-making, all while maintaining control and ensuring data privacy.
If you Imagine data exchange as a global marketplace, where instead of goods, organizations, governments, and individuals share valuable information. Governments set up stalls with data on public needs and policies, helping them provide more tailored services like healthcare and welfare.
Citizens visit the market, not to buy, but to share insights or access information that helps them make informed decisions, like the best city to live in or which public services they qualify for.
Meanwhile, companies are also in this marketplace, trading data to innovate, collaborate, and enhance customer experiences, just like businesses exchanging ideas and resources to create better products.
By coming together in this data marketplace, everyone benefits—governments serve their citizens better, individuals get personalized services, and companies find new opportunities for growth and efficiency.
Such a collaboration leads to smarter decisions, better communities, better care services, better cities and so on.
Examples of Data Exchange
A great example of Data Exchange in action is Data Collaboratives, an initiative spearheaded by the GovLab at New York University. This effort encourages businesses, nonprofits, and governments to collaborate by securely sharing data to address major societal challenges like health crises, climate change, or urban planning.
For instance, during the COVID-19 pandemic, Data Collaboratives enabled companies like Facebook, Google, and Uber to share mobility data with governments to help track the spread of the virus. This data exchange, done securely and anonymously, helped decision-makers allocate resources more efficiently.
Transparent Digital Economy: Building Trust for the Future
We are on the verge of a fully transparent digital economy, where data flows freely but securely between individuals, businesses, and governments. In this future, transparency isn’t just a buzzword; it’s a foundation for trust. The future of data essentially lies in empowerment, collaboration, and transparency.
Whether you’re a consumer sharing data for personalized services or a business using that data to innovate, transparency ensures fairness, accountability, and long-term growth. A Transparent Digital Economy allows everyone to participate in and benefit from the digital transformation that is reshaping industries worldwide.
In the context of building a Transparent Digital Economy, Estonia stands out as a global leader. Estonia’s e-Residency program and fully digital government services set a benchmark for transparency and trust.
Estonians can use their digital identities to access a range of public and private services, from healthcare to banking, with full transparency about how their data is used. Estonia’s approach to digital governance is inspiring other countries and organizations worldwide to rethink how they can build trust through openness and transparency in the digital economy.
Over the course of my 30-year journey, I’ve witnessed how data has the power to shape industries, transform societies, and drive innovation. Concepts like Data Unions, Data Sharing, and Data Exchange are no longer technical jargon—they represent a profound shift toward a more equitable digital economy, where individuals regain control of their data, governments become more efficient and responsive, and companies innovate with ethical responsibility.
By embracing these frameworks, we’re not just unlocking the value of data for monetary gains; we are building a world where personalized services, better governance, and collaborative innovation become the norm.
The power of shared data will reshape industries, promote transparency, and create a more connected and empowered global society. Whether through improving public health, streamlining education, or driving business efficiency, data can revolutionize the way we live. As we move forward, adopting ethical data practices is essential for creating a digital future that benefits everyone, from individuals to entire economies.
The author is a CEO of SCIKIQ and DAAS LABS.
Further Read: Global privacy standards shaping the responsible use of AI for business
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