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MyData : The Basics - Maarten leyts

What is MyData ? MyData refers to human-centric ways of organizing personal data. MyData is not a business or a product; it’s a conceptual framework. Data has become increasingly valued as a business resource. Meanwhile concern over privacy raises questions and the fragmentation of data poses challenges for its effective utilization. MyData tackles these challenges by putting the individual in control of his or her own data. In this model, organizations grant individuals access to their own data in a machine-readable form. This allows the individuals to utilize their personal data as they see fit. This data can be shared, exchanged or perhaps even sold to other services by the individual or with his permission . Thus the MyData-model could enable the creation of entirely new business models. To understand what MyData is we have to understand the present situation. Currently a large number of different organizations collect data from us. These include social media p