fiduciary-responsibility
The obligation of data cooperatives to protect sensitive member information and act in their best interests regarding data use.
1 chapter across 1 book
Building the New Economy: Data as CapitalAlex Pentland, Alexander Lipton, and Thomas Hardjono
The chapter explores the emergence of data cooperatives as citizen-led organizations that pool personal data to reclaim control from centralized entities, emphasizing fiduciary responsibilities and regulatory oversight to protect members' data rights. It highlights how community data, including measures like neighborhood attractiveness and skill connectivity, can predict and stimulate economic growth, enhance small business planning, and improve employment resilience. The authors advocate for data cooperatives as collective institutions that empower individuals through shared data governance to achieve mutual economic, social, and health benefits.