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Photo: Shutterstock.com / Alexandros Michailidis

The EU is Launching a Market for Personal Data. Here’s What That Means for Privacy

– MIT Technology Review

Following the announcement of a new European governance data strategy this year, Anna Artyushina ponders potential consequences of the EU’s move to implement a block-wide data trust through The Trusts Project

Artyushina notes this Trusts Project will pool EU citizen data into a single source for purchase by businesses and governments, and will provide dividends to citizens.

“This new strategy represents a radical shift in the EU’s focus, from protecting individual privacy to promoting data sharing as a civic duty. Specifically, it will create a pan-European market for personal data through a mechanism called a data trust. A data trust is a steward that manages people’s data on their behalf and has fiduciary duties toward its clients.”

Artyushina suggests this shift could put citizens’ data at risk, or put strain on governments’ ability to regulate companies in the data economy without proper mechanisms in place, like setting up ecosystems of data stewards that advocate for citizens’ rights.

When put into practice, the EU’s Trusts Project will likely change the privacy landscape on a global scale. Unfortunately, however, this new approach won’t necessarily give European citizens more privacy or control over their information

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