Compliant Data Lakes
Now more than ever data drives governmental and private organizations and businesses. For one, market data may give important insights and guidance. Data can be traded like an asset as seen in Big Data markets or be an asset itself for example in digital wallets and contracts. A smart car can provide data relevant to insurance claims or policies. Some data is of utmost importance to governments and must be safely stored to comply with regulations or be held accountable. To ensure the ‘safety’ of data one would need to implement security measures to prevent unauthorized access to the data, so that no one may see it, steal it or tamper with it. More data means a larger attack surface, and even though security measures also improved, they need to fail only once. If compromised or tampered data enters your environment the impact can be catastrophic. One should ask themselves: Can I keep all my data safe? Can I handle the scale?
Interconnectivity & Advanced Digital Applications
Looking forward we can also expect another fundamental change in our digital world some of which has already happened. This expected evolution is commonly dubbed Web 3.0. As it is still in development there is no one definition established especially considering the underlying technologies expected to lead this change haven’t all matured yet. Characteristics we can expect from Web 3.0 are connectivity everywhere, semantic web technologies, artificial intelligence (AI), 3D graphics and experiences, and open interoperable technologies. The semantic web is one that can be read and understood by both human and computer and ‘teaches’ the computer what the data means, this evolves into artificial intelligence that can use that information. Experience and graphics in 3D could be a visit to a museum or even shopping in a 3-dimensional digital copy of your local mall. Further, the increasing amount of machine to machine (M2M) communication is described to be an integral piece of this new Web 3.0. This list may already show some of the most data-intensive processes and applications we currently know of. (Basishtha S., 2014) (Lal R., 2011) (Bruwer R., May/June 2015)
The data created and processed holds value in its many uses. The uses can only be guaranteed if the data is original and not corrupted or tampered with. To ensure the value and make it apparent to all parties’ data needs to be verifiable. For speed and automation, the easiest verification would be through digital proofs. Further, being able to ensure value and safeguard data incentivizes the storage of one’s data, if they can keep confidentiality and can decide with whom to share it with. High degrees of autonomy over the confidentiality of data is particularly valuable if the data is required by others or is traded.
Next week we will continue this topic by introducing the idea of a digital proof reporisotry. If you cannot wait you can read the entire paper here.