- The Chinese city of Shenzhen plans to seal data ownership on a blockchain.
- Data owners will reportedly be able to trade data assets on the data mart.
The Shenzhen Municipal Committee announced the issuance of “Interim Measures for the Administration of Data Property Rights Registration in Shenzhen” to standardize data property rights registration. It will promote the open flow, development and use of data as a factor of production.
Data owners can use data assets to finance
According Advertisement By the Shenzhen Development and Reform Commission, property-related data must be kept in chain At least for thirty years. The proposal aims to protect the public’s right to know and participate in regulating data ownership rights. The City will accomplish this by seeking feedback from interested units and individuals before releasing the final version.
Under the proposal, data owners would claim ownership rights by filing the record with the relevant authorities. Thereafter, the owners of the data will receive a certificate of ownership of the “data asset”. People can use the asset to finance or trade it on the data mart.
The aim of this new initiative is to protect the legitimate rights and interests of participants in the data element market. This has become increasingly important as more and more businesses and organizations rely on data for their operations. The lack of a standardized record of data ownership rights has made it difficult for companies to know who owns the data and has led to disputes over data ownership.
This was announced after China issued “20 data itemson December 12, 2022, in which it stated that its purpose is:
“Establish a system of data property rights that protects rights and interests and use them in compliance, explore a system of structural separation for data property rights and ownership of data resources, separate the “three rights ” of the data Establishes the framework for the property rights of the data system. rights of treatment and use, and exploitation of data products.”