Back in 2011 the World Economic Forum asserted that personal data had become a new class. Yet to unlock the value potential of this asset class, a trust-based ecosystem had to flourish.
It’s now 2018 and this trust-based ecosystem remains illusive. However, some progress has been made. Regulation is evolving. Startups and large organisations are evolving their approaches. People are moving closer to the center of this data ecosystem – their data ecosystem. Platforms such as Mes Infos or Yoti allow users to manage their data and control them.
This panel discussion is focused directly on the role data transparency has in establishing and scaling the trust-based ecosystem many of us envisage. Leading thinkers from around the world will discuss how they are tackling today’s challenges in the hope of shaping a valuable, meaningful and engaging future for both people and organisations all around the world.
Trust is the new currency and return on trust is the new business performance indicator. Did you know that 40% of users plan to switch to the competition or to startups due to trust issues? A study from Cognizant revealed that 72% of consumers feel that rewards would motivate them to share their personal data with companies, so the give-to-get ratio, the open and transparent trade-off, will be the new norm of consumer trust in the future.