EU Data Strategy compliance
Europe is boosting data sharing across sectors and organizations both by EU level legislation and business-driven initiatives.
One of the laws, the Data Act, Will force device manufacturers to share device usage data with device users and their third parties. Gaia-X, in turn, strives for innovations through digital sovereignty. Its goal is to establish ecosystems, whereby data is shared and made available in a trustworthy environment.
Platform of Trust contract-based data exchange solutions enable efficient, trustworthy, and scalable implementation of data exchange in both cases.
The Data Act as a regulatory playing field
The Data Act by EU will ensure fairness in the digital environment, stimulate a competitive data market, open opportunities for data-driven innovation and make data more accessible. It is a part of EU fair data economy legislation, and it is especially relevant for companies in the manufacturing industry.
In practice, The Data Act allows users of connected devices – often including IoT sensors, to gain access to data generated by them, which is often exclusively harvested by manufacturers. A typical case in manufacturing industry is that a device user wants to share the device usage data with third party maintenance company that is not the device provider.
Data Exchangers - data holders, data receivers and their third parties - must agree on the rules of such data exchange. That can be executed by machine readable data contracts on Platform of Trust. Those data contracts control actual data flows directly. This makes implementation of this mandatory obligation efficient, easy, and scalable.
We’re guided by our Operating Principles, that influence to significant areas of business operations. See the other sections of our Operating Principles: