ECB joins digital standards group for data and cloud

  • ECB joins Gaia-X to help build European data ecosystem
  • Gaia-X Association aims to boost European digital sovereignty

The European Central Bank (ECB) became a member of Gaia-X, a non-profit association advocating digital sovereignty for Europe. Gaia-X develops common standards for digital services like cloud services. This allows data to be collected and shared in an environment of trust. This will support the digital transformation of the economy and is in line with the European Commission’s digital strategy.

These common standards make services interoperable, meaning that users can combine different digital services in the way that best meets their specific needs. For example, they will be able to store their data with one service provider and analyze those data with the services offered by another.

The common standards developed by Gaia-X will also enable users of digital services to retain control of their own data. Data owners can for instance ensure that their data are solely stored in Europe and subject to European law.

Source

Related Posts

Previous Post
ASX puts CHESS replacement on hold, will write off $250mn
Next Post
ECB posts Q&A on securities lending programs, ups limits from €150 billion to €250 billion

Related Posts

Fill out this field
Fill out this field
Please enter a valid email address.

Menu
X

Reset password

Create an account