How to create an Internet of Trusted Data in which insights from data can be extracted without collecting, holding, or revealing the underlying data.

Trusted Data, revised and expanded edition: A New Framework for Identity and Data Sharing (Mit Connection Science & Engineering)

Computers & Technology

Networking & Cloud Computing

MIT Connection Science & Engineering

Product Description 
How to empower people and communities with user-centric data ownership, transparent and accountable algorithms, and secure digital transaction systems. \nData is now central to the economy, government, and health systems—so why are data and the AI systems that interpret the data in the hands of so few people? 
Building the New Economy calls for us to reinvent the ways that data and artificial intelligence are used in civic and government systems. Arguing that we need to think about data as a new type of capital, the authors show that the use of data trusts and distributed ledgers can empower people and communities with user-centric data ownership, transparent and accountable algorithms, machine learning fairness principles and methodologies, and secure digital transaction systems. \nIt’s well known that social media generate disinformation and that mobile phone tracking apps threaten privacy. But these same technologies may also enable the creation of more agile systems in which power and decision-making are distributed among stakeholders rather than concentrated in a few hands. Offering both big ideas and detailed blueprints, the authors describe such key building blocks as data cooperatives, tokenized funding mechanisms, and tradecoin architecture. They also discuss technical issues, including how to build an ecosystem of trusted data, the implementation of digital currencies, and interoperability, and consider the evolution of computational law systems.\nReview 
“Beating the pandemic is a tough challenge, but also an opportunity to retool for the bigger disruptions of digitization and AI. 
Building the New Economy brings together the best thinking on exactly how to do that, with perfect combination of rigor and relevance.” 
— 
Erik Brynjolfsson, Stanford University\n“These essays together offer depth and a path forward. Required reading for a sane future.” 
— 
Lawrence Lessig, Harvard University\n“Each chapter of 
Building the New Economy tackles an urgent and important societal question, from how to build effective health surveillance without a national healthcare system to how to protect people’s right to control their own data while exploiting its economic value, to how to enjoy the economic benefits of asset-backed securitization while reducing fraud. This boundary-pushing preview of the future we could have is a must-read for policymakers, thought leaders, and all of us wishing to reimagine and build a better society on the other side of the pandemic.” 
— 
Beth Noveck, former Deputy CTO, United States\n“An assembly of some of the brightest minds in engineering and data science, 
Building the New Economy bravely tackles not only what the economy needs of technology in our crisis-riddled age, but also what technology demands of financial ecosystems in order for it to make our lives more efficient, fairer, and safer. An ingenious collection of essays, the book provides a fresh new perspective on some of the most cutting-edge technologies of our time.” 
— 
Chris Brummer, Georgetown University 
 About the Author 
Alex “Sandy” Pentland directs the MIT-wide initiative MITConnection Science. Called one of the “seven most powerful data scientists in the world” by 
Forbes, he has cofounded more than a dozen companies and is the author of 
Honest Signals (MIT Press) and 
Social Physics. Alexander Lipton is Professor and Dean’s Fellow at the Jerusalem Business School at the Hebrew University of Jerusalem, Cofounder and Chief Information Officer at Sila, and Connection Fellow at MIT. Thomas Hardjono is Technology Director of the MIT Connection Science and the MIT Trust::Data Consortium.

Building the New Economy: Data as Capital

Pentland, Alex

Lipton, Alexander

Hardjono, Thomas

Reference

How the global financial services sector has been transformed by artificial intelligence, data science, and blockchain.\nArtificial intelligence, big data, blockchain, and other new technologies have upended the global financial services sector, creating opportunities for entrepreneurs and corporate innovators. Venture capitalists have helped to fund this disruption, pouring nearly $500 billion into fintech over the last five years. This book offers global perspectives on technology-fueled transformations in financial services, with contributions from a wide-ranging group of academics, industry professionals, former government officials, and current government advisors. They examine not only the struggles of rich countries to bring the old analog world into the new digital one but also the opportunities for developing countries to “leapfrog” directly into digital.\nThe book offers accessible explanations of blockchain and distributed ledger technology and explores big data analytics. It considers, among other things, open banking, platform-based strategies for banks, and digital financial services. Case studies imagine possible future fintech-government interaction, emphasizing that legal and regulatory frameworks can help to create trust in financial processes. The contributors offer novel takes and unexpected insights that will be of interest to fintech experts and nonexperts alike.\nContributors 
Ajay Bhalla, Michelle Chivunga, John D’Agostino, Mark Flood, Amias Moore Gerety, Oliver R. Goodenough, Thomas Hardjono, Sharmila Kassam, Boris Khentov, Alexander Lipton, Lev Menand, Pinar Ozcan, Alex Pentland, Matthew Reed, David L. Shrier, Markos Zachariadis

Global Fintech: Financial Innovation in the Connected World

Business & Money

Economics

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