The pace of growth of the European data market in the next years will be strongly influenced by our ability to develop a healthy supply-demand ecosystem. Organizations will need to adopt data-driven innovation and digital transformation to keep up with international competition. International competition demands reducing costs by incorporating digital processes and data that improve productivity and efficiency. Data Markets play a fundamental role to providing the necessary data but are currently hampered by barriers such as:
• Lack of trust in data suppliers and data aggregators
• Lack of awareness of data sharing benefits and business opportunities
• Businesses fear of losing power/ control of own data
• Enterprises uncertainty in the implementation of GDPR
As privacy and trust remain key in the data sharing debate, Privacy enhancing technologies (PET) are expected to play a prominent role by 2025. Safe-DEED takes a highly interdisciplinary approach, and brings together partners from cryptography, data science, business model innovation, and the legal domain to focus on improving PET technologies and improving trust to keep up with global macrotrends and the data economy. Furthermore, as it has been recently shown that even among large companies, many have no data valuation process in place, Safe-DEED provides a set of tools to assess the value of data. Thus, incentivizing data owners to make use of the cryptographic protocols to create value for their companies and their clients.
Safe-DEED brings together three companies (Forthnet, Infinion, LS-Tech) to provide use-cases for secure multi-party computation (MPC), data anonymisation and data valuation technologies that three research centers (Know-Center, Eurecat, RSA) are developing. Exploiting Safe-DEED technology requires business model innovation in light of legal and ethical considerations. Safe-DEED dedicates therefore each of these aspects their own work package, under the leadership of two university partners (TU Delft, KU Leuven). Furthermore, the technology components are developed modularly, able to be deployed on-premises of the use-case partners, as well as adopted by emerging data market infrastructures, such as those developed by Data Market Austria, IDS or the TRUSTS project.