The Data Game | Edition III
Bianca Lopes
Co-Founder & Investor ?? Identity ??AI UNESCO Business Impact Council Member ?? tech for SDGs, Privacy & Ethics
Hello you,?
Another week, and here we are! And hoping to bring you some energy with a carefully curated edition of the Data Game??.?
So much gratitude all around to 3000+ of you. Your interest has inspired the Rooh Ventures team and me to continue to find and share insights that connect the dots across topics and acknowledge the ecology we are ??.?
Before letting you dive in, please share with me what you like most and want to see more of so I can continue to level up my game of bringing you value.?
Have an incredible aligned week??,?
??Sustainability
Data is the lifeblood of digital transformation and could be an important equalizer for countries in accelerating their efforts toward the Sustainable Development Goals. However, several countries lack foundational data infrastructures, such as data centres, communication networks, and energy grids. We need to accelerate efforts to build data capacity to ensure that existing digital divides are not widened.
For years, companies of all sizes have recognized the inherent value of environmental, social, and governance (ESG) initiatives regarding customer retention and smooth overall operations. Sustainability strategies are a smart business move that may foster company longevity and keep customers returning.
However, while plenty of company leaders recognize the critical importance of sustainable initiatives, only about one-fourth of companies include sustainability as part of their business model, according to the International Institute for Management Development (IMD) .
Read More- https://venturebeat.com/automation/how-data-and-automation-can-help-with-sustainability/ .
Singapore’s Marketnode , a joint venture between the Singapore Exchange (SGX) and government-owned investment firm Temasek , said it plans to launch the blockchain-based FundNode in association with the Singapore Funds Industry Group (SFIG ) in 2023.
?? Open Banking / Open Data
Open Banking Europe announced it has merged with its international division, Open Banking Exchange , to form a single global organization called OBE. Open Banking Europe is a multiparty group that works with regulatory authorities, banks, third-party payment service providers, and other ecosystem stakeholders to foster innovation, competition, efficiency, and security around online payments in the European Union, per a company release .
John Broxis , managing director of Open Banking Europe, will lead Open Banking Exchange globally, supported by regional directors in Europe, Latin America, the Middle East, and Asia.
The move is significant, as although open banking has grown by leaps and bounds in recent years, progress has been highly regionalized. In the EU, the development of open banking is associated with the Second Payment Services Directive (PSD2), landmark legislation that mandated banks to open up account data to regulated third parties.
The banking industry is undergoing a digital transformation, challenging the supremacy of established banks that have, for decades, been at the heart of the global financial system. To stay relevant, those established banks must start thinking and acting more like innovative, agile fintech and challenger banks.
Implementing new technologies is a logical start, but banks need an entirely new operating model, which some are saying parts can be labelled or called Banking as a Service (#BaaS ).
Open banking, which allows third-party financial apps to access consumer financial data electronically and securely, relies on data aggregators to establish connections with consumers’ financial institutions and extract consumer data. Data aggregators are critical to enhancing consumer financial services and increasing competition among financial service providers and payment methods. However, their role raises concerns about data security, privacy, and competition.
While dealing with regulations and ever-present concerns over security, the global financial services ecosystem is in the mood for innovation. Traditional banks, fintech firms, and investment platforms are finding ways to reinvent services and satisfy consumer aspirations quickly, whether this involves open banking, blockchain, or digital currencies.
With open banking, enterprises could achieve greater agility through faster payments and more timely account information, managing cash receivables and payables directly through their ERP. Right now, some exciting proof-of-concept work is underway at, Unit4 . Opportunities are also being discussed publicly by the likes of J.P. 摩根 and the global financial group BBVA .
????Trust Frameworks
It is accurate that NFT buyers “own” the digital art associated with their tokens. It also is a fact that NFT buyers frequently receive valuable IP rights in their digital art, including through broad exclusive licenses, which provide “all of the protection and remedies accorded to the copyright owner.” To understand why this is right, and the critics are wrong, we’ll need to review some principles of IP and property law.
领英推荐
With an Internet connection comes the fear of getting our data breached. Cyber attacks have become the new norm in recent years. According to Cybersecurity Ventures , global cybercrime costs will increase by 15% per year over the next five years, reaching USD 10.5 trillion annually by 2025, up from USD 3 trillion in 2015. No wonder why the need for reliable cybersecurity is increasing on a day-to-day basis.
Read More- https://securityboulevard.com/2022/09/zero-trust-security-a-new-perspective-on-cybersecurity/ .
To build trust, brands need to support a transparent customer experience.
Brands have to be proactive about their customers' privacy concerns by being transparent in two important areas — customer experience (CX) and data collection and enrichment.
Not only should brands be upfront about privacy, but they should also provide a unified trust centre for customers to access and learn more about privacy practices.
?? Regulation
Data regulation rightly exists to protect consumers, ensuring their sensitive and personal information remains private. In practice, however, it could impact how enterprises collaborate on key initiatives to improve millions of people's financial, physical, and overall well-being.
Meta was fined roughly $400 million for breaking European Union data privacy laws for its treatment of children’s data on Instagram, the latest in a series of steps by authorities in Europe and the United States to crack down on what information is collected and shared by companies about young people online.
?? Identity + Web 3?
耐克 celebrates its 50th anniversary this year, honouring that milestone by looking at both the past and the future. The brand has partnered with global creative company Buck to bring a WebAR experience to 11 of its stores worldwide, including New York City, Paris, and Shanghai. The project aims to highlight the spirit of #DNA (Department of Nike Archives) and support the future of storytelling within the retail space.
Decentralized identity is an emerging #Web3 concept based on a trust framework for identity management. Such decentralized identity management includes an identity and access administration approach that allows people to generate, manage and control their personally identifiable information (PII) without a centralized third party like a registry, identity provider, or certification authority.
As part of its sustainability efforts, Continental Group Japan plans to use the PROJECT TREE blockchain initiative to ensure some of its all season contact tires use responsibly sourced natural rubber. PROJECT TREE is an initiative of Japanese conglomerate ITOCHU, which owns a rubber processing company in Sumatra, Indonesia, and the UK’s Kwik Fit, a major tire fitter and car maintenance network. ITOCHU officially launched this sustainability initiative in December 2021.
Read More-? https://www.ledgerinsights.com/continental-tire-blockchain-for-sustainable-rubber-sourcing/ .
?? Employment Opportunities to know
????Events I am Attending
About the event- Nordic Fintech Week will take place in Copenhagen on the 27th and 28th of September 2022, bringing over 1200 attendees presiding over 50 sessions delivered by 100+ speakers and 30 partners.?
Why should you be interested: Nordic Fintech Week (in partnership with the Nordic Fintech Magazine ?Magazine) will feature the most daring and visionary Fintech thought leaders and founders who are reshaping the Nordic and global financial industries. The event will focus on Ethical and Sustainable Finance, Embedded Finance, the expanding Fintech market for SMEs, and the disruptive impact of Tokenization and Web 3 platform economies.
This week's edition of The Data Game was about giving you food for thought. We hope you enjoyed the meal :)?
If any of the articles in this newsletter resonate, please share them with your friends and family. Help us spread the word about the important news we’re curating. Together, we can make a difference. Thank you for your support.
Made with Love??,
Until we meet next time?,?
Bianca & Team at Rooh Ventures
Love this newsletter. Its so apt and gives you everything you need to know about data/industry in a nutshell! Thanks for this amazing curation Bianca!