Nadia Filali, Introduction to Panel 4: The Economics of Data
Presented at the Legal Challenges of the Data Economy conference, March 22, 2019.
NADIA FILALI: Good afternoon, everyone. We reached the last panel after I think an intense and very interesting day. And the last panel was devoted to the economics of data. And we will further characterize the digital ecosystem, exploring the legal and governance aspect beyond the data usage in the UT and the [INAUDIBLE] data monetization. And we left social data for next time, I think.
And so in a few words, I will introduce myself and make a link between what I'm working about and about with data. Because I'm not talking about data already. I'm Nadia Filali and I'm head of the Blockchain Program in the Caisse des Depots. And I created LaBChain, that is a consortium with banks, insurance, startups, and academics in France. And I'm also a member of, the European Blockchain Observatory Forum. And at Caisse de Depots, we launched blockchain programs now four years ago. And most of our partners in financial industry had vaguely heard about bitcoin, but few about blockchain.
And this put the [INAUDIBLE] of the technology. And we realized that the application of blockchain technology was not reduced on your financial sector. And later, fit within Windows spectrum of blockchain application or proposing it an alternative methodology for data storage and data management. And innovation modernizing the economics of data. And after a clearer understanding of the benefit that technology can bring, the centralization, transparency, and automation, we started to approach programming in a different manner, understanding that thanks to the blockchain technology, it's possible to give user back control of their personal data. And gain in terms of data management costs at the same time.
And for example, it's become in evidence to us to exploring blockchain application for the banking KYC, know your customers, procedure and the later result significantly costly and time consuming for banks or financial institutions, but we can also apply this application to attributes of identity and other things. And moreover, clients are asked to provide the same information and over and again over each with different banks of our insurance company.
And if we apply the KYC with the blockchain infrastructure, we can apply one [INAUDIBLE] principle for all the customer and the banks. And if it's allowed by the law, because for the moment, it's not allowed by the law, we can also share the information between the different entities and the client can decide who can see the data, when data can be available, and for which purpose data can be sued.
It's an important thing. Because blockchain is not a database. I think it's in evidence. That you can make the link between the points that we are talking about here and using this infrastructure. I think it's not the debate of today, but I think it's an important thing.
NADIA FILALI: Yes. And the previous panel explored some conflicting terms about the asset personalization control of personal data, [INAUDIBLE], and competition, and regulation as the task of insuring and allowing a trade off between these terms characterising our modern society. And today the regulation is guaranteeing a good trade off on it. What are the main difficulties in governing data and economy? And automatic and atomic protocol can facilitate or not that [INAUDIBLE]. It could be some points.
But our panelists will answer some questions providing an insight on the perspective of the data economy, in terms of governance, regulation, and on social motivation, sorry. And I will introduce the panel. I cannot see you with my eyes. But I cannot read without my eyes. Sorry about that. And so we have here and pleased to be with you, Valerie-Laurie Benabou, Professor of Private Law at the University of [INAUDIBLE], former director and researcher at the laboratory and business law, a new technology at the University of Versailles Saint Quentin en Yvelines. She is a specialist in the law of cultural industry. And she is working on a very important subject of revenue of the data.
I will talk about it just after I introduce Wolfgang Kerber, Professor of Economics at the University of Marburg. Sorry, I never speak Dutch. His field is in the German, because Dutch is the country behind you. His research international competition policy, intellectual property, institutional economics, innovation economics, and the European integration, and [INAUDIBLE] legal system. It's that? Yes. Thank you.
And I think we will begin with you, Wolfgang. No? It's you?
Sorry. Sorry. So we will begin with you on the subject of the monetization of data, how we can include the diversity of data, and how we can break the silo of between the kind of data, how we can perhaps make the distinction between the different forms of revenue and identify something that it's more than only one price. I don't know if that, no, it's not that?
SPEAKER: We'll see.
NADIA FILALI: And I make the difference between the property and the revenue on the data. Thank you, Valerie.Big data