Data Republic says risks are part of the past – The Australian

The Australian, Sept 06, 2016

Data may be the new currency but we are still firmly stuck in the past when it comes to handling the risks, according to Data Republic chief executive Paul McCarney.

Data Republic is the world’s first governed marketplace for organisations to list, exchange and collaborate on data exchange projects.

Backed by NAB, Westpac and Qantas, the platform went live last week and Mr McCarney is confident that it is the first step in building public trust around the concept of open data.

“We are back in the 1800s when it comes to data,” Mr McCarney said. “Modern banking has been able to engender public trust when it comes to money but that wasn’t always the case. Back in the 1800s there was a lot of perceived risk in storing your money with a bank.

“We are trying to replicate with data what the banks did with money.”

The first step in that process is creating a platform that keeps the data safe and forms the central nexus for organisations to source and govern data from authorised parties. Data Republic’s platform hosts a number of data sets with foundation contributors Westpac and Qantas.

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