Harnessing the Value of Data
As data becomes increasingly valuable, decentralisation and data portability play critical roles in making the most of that value
Increasing amounts of data are being generated in a digital world accelerated by the Covid pandemic, particularly in developing regions where technology has enabled SMEs to transform the way they do things. For instance, more and more small merchants in South East Asia are moving towards cloud-based software to manage their finances better, creating more data footprints that open up opportunities for engagement beyond traditional banking and finance structures.
But how can the value of this data be harnessed in ways that would benefit SMEs and their customers as well as their communities and societies? This is one of the issues that the IFC (International Finance Corporation) faces as it advances private sector growth in developing countries.
In their Pre-Symposium conversation on Jan 26, IFC Senior Financial Specialist Ivan Mortimer-Schutts and Dataswyft Chief Strategy Officer Ben Forbes discussed the role of data portability in creating the best value from data and how decentralised data is a fundamental game changer for the way we manage our data. They also explored several areas where data is becoming increasingly valuable: healthcare, tourism and the semi-public sector.
Catch up on the conversation here:
Ivan will also be presenting at the 5th Symposium on the Digital Person on March 1, where he'll speak further about what IFC is doing with data portability in the finance sector in developing regions.