Unlocking the shared value of smart city data: A protocol for action

The World Bank’s white paper proposes a new governance framework for aligning IoT data sharing, emphasizing the importance of innovative regulatory and governance models for cities to benefit from IoT information. The paper highlights trusted data sharing platforms and key elements needed to build trust for opening public sector data and safely trading private sector data.

The World Bank published a white paper that looks at the current landscape of data collection and suggests a new governance framework to align the internet of things (IoT) data sharing value chain in three key platform dimensions, as well as six major regulatory structures rooted in global standards. The paper further identifies examples of trusted data sharing platforms, how they are structured, the fundamental elements required to build trust to enable the opening of public sector data, and the trading of private sector data safely. ‘Innovative regulatory and governance models are the basis for cities to manage and benefit from the growing amounts of IoT information to help guide decision making, improve the quality of public services, and become more efficient, sustainable, resilient and equitable.’