Few companies own and control much of the data which concern us, often in ways that are not properly compliant with the regulations on the subject. A topic we find ourselves writing about daily between leak, privacy and cookies. L'Europe intends to remedy the problem: from Brussels the Commission will shortly announce an initiative to do so.
A European data market against the big USA
Reuters spoke about it today, claiming to have consulted a document that will be presented officially on February 19. It refers to the creation of a single market which will be born with objectives such as contrasting the dominance in this sector now held by American giants (Google, Facebook and Amazon in the first place). Among the aims also to allow the old continent and its realities to better compete with those in other geographical areas is already far ahead on this front. Here are some translated excerpts from the leaked files in translated form.
At present, a small number of large tech companies hold most of the information from around the world. This represents an important weak point for data-driven businesses that today wish to emerge, grow and innovate, including those present in Europe, but in prospect there are huge opportunities.
On the 25 pages in question, direct references to China is United States.
Competitors such as China and the United States are already innovating rapidly, projecting their respective concepts for accessing and using them worldwide.
The European Commission intends to work so that the dynamics that currently regulate the market can change. How? Moving on from the introduction of new rules concerning, for example, the transfer of information from one territory to another, their interoperability, the standards related to manufacturing, the environment, the automotive industry, health, financial services, agriculture and energy.
Today's winners won't necessarily be tomorrow's.
All this by leveraging data management methods in compliance with the provisions of GDPR, legislation on treatment more rigid and severe than those in force in other parts of the world.
The goal is to create a single European data space, a single genuine market for information.
The European Commission has not commented on the indiscretion. In all likelihood we will return to talk about the proposal before its official announcement which, as already written, seems to be set for February 19th.