We all hear the word «data» repeatedly in recent years, whether we specialize in it or not, and each of us has a certain meaning associated with our life experiences and the nature of our specialty, but the most attractive description of them, and stop everyone, is to describe the data as «future oil» This immediately gets attention because it is linked to economic and financial value.
But the data so far is still mostly crude and has not yet turned into oil, but the good news is that future oil (data) will not need millions of years like fossil oil to form.
There are many trends and schools related to extracting the economic value of data, but we at Smart Dubai and the Dubai Data Corporation concerned with this file, we wanted to explore the opportunities of data in the world of the future, not only the requirements and possibilities of the present, and to invest the techniques of the Fourth Industrial Revolution, and therefore, we launched a global report is The first of its kind on “data decentralization”, which the world's most advanced city still looks with caution and anticipation, we show in this report how decentralization of data will enable the world to maximize the use of artificial intelligence and create new parallel opportunities and economies.
Before we go into the details of the 'decentralization of data' that we seek to explore and apply in Dubai, I would like to agree that 'centralization' and 'decentralization' are as old as humanity, have evolved with the development of science, and are present in various areas of our lives and simplest forms at the family level, when the husband Responsible for all family affairs (centralized) or delegated part of his responsibilities to the wife or children (decentralized), through private work, and up to government work and even states as a whole. One cannot say that both options are valid all the time, but there must be an ongoing assessment of the effectiveness of the model applied.
“Decentralization of data” is a digital platform and network that connects data owners or providers, and those interested and consumers, but not any data, but valuable data with monetary value.
This platform allows programmers and developers to access data to build services.This network has the advantages that it allows the transfer of data and exchange of data in an efficient and secure manner, allows the monetization of data (financial value), and build business models of data to suit the needs of the public and private sectors, as well as individuals.
One of the most important features of this platform is that it balances the need for centralized control of the data, while facilitating the exchange and liquidity of the data. They also choose with whom to share.
“Data decentralization” is a digital platform and network that connects data owners and those interested in it.
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Assistant General Manager of Dubai Smart Executive Director of Dubai Data