Four Narratives

Four Narratives

Bo Harald

Founding Member at MyData Global Network

Views 425

Four Narratives

29.01.2020 05:30 am

It is no secret that a fundamental change has started - the migration to a data-driven economy. Why this should be speeded up is obvious - everyone stands to benefit (i) from much better services when any citizen can authorise connecting MyData and Big Data to life events (at home and at work), (ii) from costs being automated away in all adminstrative and commercial processes, (iii) from better productivity when data is being used to make better and more transparent decisions in all organisations, (iv) from lower risks (data integrity, credit, currency, fraud etc), (v) from better jobs - also via life-long learning, (vi) from much smaller grey economy, (vii) lower waste and CO2 emissions and (viii) a deeper internal market in Europe.

So why does not politicians, enterprises and citizens alike cry out for faster action? Because so much is going on that the attention span is down to 8 seconds. But also because much of the narrative comes from the boiler room - difficult to understand. Central of course that the guys doing this work understand each other in this fast lane. But decision makers should be served something more than just AI tech speak - to be able to become truly enthusiastic, take the lead and make bold decisions - not just reading out texts. But we need more - four main narratives:

1. Why is a fast move to data driven economy so important? Target group:  decision makers.

2. What is in it for my life events? What actionable rights can I demand from decision makers? How can I authorise and get authorised? Target group: the citizen (at home and at work).

3. How should this be done? What common infrastructure is needed - for the many ecosystems - to attract all sorts of service providers. Target group: decision makers, regulators, service providers, SMEs

4.  What can algorithms do to automate processes at large and help machines to learn? New opportunities when mega classes of data (central and distributed connected with Self-Soveign Identity) is made available as structured, standardised, verified (huge additional value) and increasingly in real time - at birth (huge additional value). Target group: technologists, data scientists, regulators..

Please work on this. Make it crystal clear. What is easy to understand - is repeated. What is repeated - changes the world.

Latest blogs

Nish Kotecha Finboot and Bryan Foss, NED, Visiting Professor at Bristol Business School and member of the FRC Audit & Assurance Council

How Listed Companies Can Use Blockchain to Prevent Auditing and Reporting Malpractice and Avoid Scandal

Not too long ago, there was very little to link Wirecard, the disgraced payments platform in Aschheim, Germany, with Boohoo, the fast-fashion online retailer in Leicester, England, but both have recently been embroiled in high-profile scandals. Read more »

Leon Muis Yolt Technology Services

The Time for Financial Services to Become Truly Digital is Now

The financial services industry looks set to change dramatically over the next couple of years in response to COVID-19. The pandemic has certainly highlighted some inefficiencies and weak spots in current processes for many businesses, such as those Read more »

Granville Turner Turner Little

The Lockdown Money Revolution

Many Brits have found that lockdown has been beneficial for their money, having cut back on personal spending and managing to put away some extra cash. According to eToro, Brits with unspent discretionary income are set to accumulate £75.5bn in Read more »

Sandra Higgins Sysnet Global Solutions

Are You ‘Prescribing’ the Right Security Solution to Your Merchants?

When it comes to leading a healthy lifestyle, eating the right food, taking regular exercise, and maintaining a positive mindset are key. However, despite these best intentions and practices, you still might not get all the nutrients your body needs Read more »

Robert Flowers DivideBuy

It Doesn’t Have to Be the End – How Retailers Can Grow in Light of COVID-19

It’s no news that the retail industry has been flipped on its head by the COVID-19 pandemic. Due to the lockdown, most in-store operations have been shut down, and nationwide furloughs, reduced pay and steady streams of income at risk have fuelled a Read more »

Free Newsletter Sign-up
+44 (0) 208 819 32 53 +44 (0) 173 261 71 47
Download Our Mobile App
Financial It Youtube channel