The country has issued a discussion paper that describes in detail how data portability can help to shape Singapore as a smart nation and its digital economy – including business innovation, market competition, and consumers.
“Data is a key enabler of digital transformation, but a delicate balance must be struck between data protection and business innovation,” says Minister for Communications and Information, S Iswaran.
Singapore is issuing a discussion paper on data portability, which sets out our thoughts through the lens of personal data protection, competition and data flows to support services and innovation in the digital economy. We hope more can join us in this international discourse and work together to build a trusted global environment for business innovation.”
According to the discussion paper, data portability is defined as follows: “Data portability enables individuals to request for a copy of their data held by an organisation in a structured, commonly used, and machine-readable format, and for the organisation to transmit the data to another organisation.”
While it does encompass data protection by giving consumers more control over their data, there are a number of other benefits – it can also create more competition and help to boost innovation and customer experience.
Source: Sara Barker – SecurityBrief Asia