European Commission wants to develop a data valuation framework by the end of 2021

The European Commission presented a European data strategy on 19.02.2020. The Commission has made clear that data must be collected and used in a way that reflects the interests of the individual in accordance with European values, fundamental rights and rules.

The EU states that it is necessary to seize the opportunities offered by the data economy to secure Europe’s digital future.

Therefore the EU wants to create a common European data space to use the synergy effects of data. This is similar to the presentation of the GAIA-X project (also see the article from November 2019).

EU 2025

Due to the strategic interest of the EU to further facilitate the creation of international data flows, the Commission wants to create an “analytical framework for the measurement of data flows” by the fourth quarter of 2021.

The aim is to create a framework that will provide the tools to carry out a continuous analysis of data flows as well as the economic development of the EU data processing sector. In particular, a sound methodology for data evaluation will be developed.

According to the European Commission, this still very cryptic project is to be concretised with the relevant financial and international organisations, e.g. EIB, EBRD, OECD and the IMF. It seems that the subject is gaining momentum.

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