The new European regulation is a key milestone in the Data Exchange market, setting organizations’ ability, obligations and responsibilities in handling data circulation
PARIS–(BUSINESS WIRE)– Dawex, the leading data exchange technology company, today announced its Data Exchange technology matches with the requirements put forth by the European Data Governance Act. The European regulation acknowledges Data Exchange as an expert discipline requiring strict European-wide standards and criteria. The Act clarifies the role of data intermediaries, setting up a structure to foster trust in those intermediaries and the direction for data governance.
The European Data Governance Acts lays down a notification procedure for providers of data sharing services to increase trust in the provision of these services throughout the European Union.
The regulation specifies that the provider of data sharing services shall:
- Be neutral. Structurally separate its data intermediation services from any other value-added services it may provide
- Be established or have a legal representation within the European Union
- Be subjected to a general authorization to operate given by a member state
Dawex Data Exchange Platform, as a trusted third party, enables organizations to source, share, exchange and commercialize data securely, in compliance with regulations. Since its inception, Dawex Data Exchange technology made the distinction between the provision of data sharing/exchange services and any other services processing the data (including but not limited to data preparation, data cleansing, data aggregation and data anonymization).
“This new regulation project sets guiding principles for the deployment of Europe-wide data ecosystems, relying on public-private partnerships to foster new cooperation power based on the circulation of data.” said Laurent Lafaye, co-CEO of Dawex
Dawex, a French tech company, has anticipated this direction of the data economy and the European Data Governance Act confirms its vision of the market. This European regulation echoes a string of new initiatives on frameworks and policies such as GAIA-X in Europe, Data Trading Alliance in Japan, the World Economic Forum or the Data Exchange Association (DXA). Dawex welcomes this strong step towards the protection and valuation of European data resources, both public and private.
“This milestone evolution marks a strong confirmation from the market of Dawex vision by positioning Data Exchange Platforms as trusted third parties. The development of data exchange technology supports the flexible deployment of data ecosystems and their interconnection powering organizations to accelerate their entry in the data economy.” said Fabrice Tocco, co-CEO of Dawex
Dawex, the leading data exchange technology company and the operator of the largest data marketplace, allows organizations to orchestrate data circulation, by sourcing and exchanging data securely, and in full compliance with regulations. Today 12,000+ organizations from 20+ sectors rely on Dawex Global Data Marketplace and Data Exchange Platform solutions to build their data exchange strategy. In 2020, Dawex is named Technology Pioneer by the World Economic Forum. Created in 2015, Dawex is a tech company with offices in France and Canada, expanding business operations to Asia and the Middle East. More: www.dawex.com
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