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British could lead the world with first sovereign data exchange

The British island of Jersey, is ideally placed to become the world’s first privacy enhancing sovereign data exchange which will have huge benefits to the whole of the UK and beyond. Global Smart City expert and digital transformation consultant, Joe Dignan said the Covid-19 pandemic has highlighted the importance of a combined data view of a population, and now is the time to establish a trusted, highly regulated and ethical exchange. He has called on the Jersey government to support the idea for the benefit of everyone.

A sovereign data exchange is a regulated infrastructure that allows data owners to store, share and monetise their data while retaining ownership and privacy.

‘If dealing with the pandemic has taught us anything, it’s that single sources of data are meaningless unless synthesized with other data and visualised so we can understand it,’ said Joe.
‘Jersey is a microcosm where it controls the levers of the economy, legislature, government and security in an enclosed and agile environment that already has a digital twin. It also has all the necessary skills for regulatory and governance of that data, through its finance industry. This puts it in a unique global position to act as a data exchange which can bring huge health, economic and environmental benefits to the UK and elsewhere.’

Joe and a host of global technology experts, including Fintech titan, Nick Ogden, are discussing Jersey’s position as a sandbox for data innovation and digital testing at a series of free online events for Jersey Tech Week, 16th to 23rd October.
Nick set up what is believed to be the world’s first e-commerce business in the Island in 1994, before launching World Bank. Key figures from IBM, Ocado, World Bank, Carlsberg and Microsoft, will also demonstrate the very latest trends and developments for the industry, including insights into emerging tech trends – with fintech, artificial intelligence, digital health and creativity.

Joel Mills, the CEO of AugmentCity, will showcase the digital twin of Jersey, part of the United Nations’ United 4 Smart Sustainable Cities initiative, which is already helping to inform decision making.

‘Covid has been terrible for everyone, but it has speeded up the adoption of technology, from the simple need to work from home to the urgent need for good quality data and its use,’ said Joel.

‘The pandemic has shown that single sources of data are meaningless. This has opened up opportunities for us to make big improvements in the future with informed decisions using data from multiple sources and visualised for human understanding.

‘Using simulation in partnership with the UN’s smart sustainable development goals, allows us to connect humans and data like was never possible before. Breaking down barriers, fast tracking new technologies and reducing time and cost. If we are to beat the virus we need to embrace technologies and Jersey is playing a key role in prototyping this.’

Anyone can register to watch Jersey Tech Week for free: https://www.digital.je/techweek

About Jersey Tech Week
16th-23rd October.
Sessions include: Fintech Regulation & Jurisdictional Competition, The Big Themes Shaping Fintech, Covid Digital Solutions, How is AI Benefitting Industry? Digital Health Tech Transformation, Islands as a Testbed, Digital is the Economy, Digital Creatives, and Smart Island. https://www.digital.je/techweek/