Data Spaces relate to data ecosystems where multiple, distinct organizations exchange data products with trust, and create value with the realization of business, industrial and regulatory use cases based on the data being exchanged.
According to DSSC blueprint 1.5, a Data Space can be defined as an interoperable framework, based on common governance principles, standards, practices and enabling services, that enables trusted data transactions between participants.
In this context, Data Spaces are endowed with a governance for business, technical, organizational and legal matters.
Additionally, in order to create trusted data ecosystems, Data Spaces must answer to strict security, confidentiality, sovereignty and traceability requirements, and comply with data regulations.
Data Spaces are at the heart of the European strategy for data aiming to:
- Improve the efficiency and the resilience of strategic sectors
- Generate new products and services
- Achieve sustainability goals
- Create a market for data products
Data Space initiatives are multiplying around the world, driven by regulation and business requirements, across all sectors of the economy. These initiatives are led by major players and consortiums who have recognized that their next performance leap was dependent on participating in such data ecosystems.
