In recent years, the data market has been flourishing. A sharp downfall in trust towards platforms considered secure and privacy-aware, however, has hampered the market. This lack of trust has hit the data economy hard by limiting its resources to open data. This downfall is likely to continue if technical standards are not adopted. The EU-funded TRUSTS project aims to reinstate trust previously placed in the data market by developing a new platform using the experiences of two large national projects while also allowing the future introduction of newer platforms. The project plans to use this platform as a platform federator and start a thorough investigation into the ethics of the data market
The lack of trusted and secure platforms and privacy-aware analytics methods for secure sharing of personal data and proprietary/commercial/industrial data hampers the creation of a data market and data economy by limiting data sharing mostly to open data. This trend will continue if different technical standards, quality levels, and legal aspects are allowed to diverge uncontrollably.
TRUSTS will ensure trust in the concept of data markets as a whole via its focus on developing a platform based on the experience of two large national projects, while allowing the integration and adoption of future platforms. The TRUSTS platform will act independently and as a platform federator, while investigating the legal and ethical aspects that apply on the entire data valorification chain, from data providers to consumers, i.e. it will:
(a) Set up a fully operational and GDPR-compliant European Data Marketplace for personal related data and non-personal related data targeting both personal and industrial use by leveraging existing data marketplaces (International Data Space and Data Market Austria) and enriching them with new functionalities and services.
(b) Demonstrate and realise the potential of the TRUSTS Platform in 3 use cases targeting the industry sectors of corporate business data, specifically in the financial and telecom operator industries while ensuring it is supported by a viable, compliant and impactful governance, legal and business model.
To create a European Data Market based on secure and trustworthy data exchanges, the TRUSTS consortium brings together technology providers that are already deeply involved in major national data market projects. This integration will be tested in practice by 6 companies, including 2 data providers, addressing 3 different use-cases. The TRUSTS technology and use-cases will be accompanied by business and legal and ethical considerations, which will ensure that the results of the project are sustainable beyond its duration