The global economy is thirsty for data, with businesses, public bodies, organisations and individuals increasingly looking to share or access data and insights across multiple parties.
A Jersey data trust is a flexible, streamlined structure which can be used to easily pool data from and share with multiple parties, removing the need for complex multi-party data sharing agreements. The trust is administered (and associated data stewarded) by an independent, regulated trustee. Data governance rules can be baked into the trust’s activities through its purposes. In addition, access to the data can be monetised in order to grow the value of the trust and reward the data providers and other stakeholders.
The applications of data trusts are numerous: From reducing the cost of property development, through monetising copyright works for generative AI training to enabling life-saving pharmaceutical breakthroughs.
