Sightline Innovation establishes a new and comprehensive open standard for data trusts
TORONTO, July 10, 2019
TORONTO, July 10, 2019 /CNW/ – Sightline Innovation Inc. proudly announces the second generation of its Data Trust software platform, SID (Sightline Innovation Datatrust) for global release.
SID v2 now includes a revolutionary new standard for the definition and automation of data trusts and other data sharing agreements. It is known as DIFANO – Data Interoperability and Fiduciary Agreement Negotiation Operationalization.
DIFANO is implemented through Smart Contract and Distributed Ledger Technology. It is a schema to define and codify the data producer and data consumer agreement constructs into smart contracts which can be executed automatically.
DIFANO enables big data owners to achieve better utilisation of their assets while also protecting individual data producers (such as smart city residents) and allowing them to provide or withhold their consent on the use of personally identifiable information or other sensitive inputs.
A Data Producer can define the source, authority and the rights of data and automatically control its usage by Data Consumers. Any transactions can be automatically monetised through microtransactions.
SID v2 manages the entire lifecycle of enterprise data assets and policies, allowing for trusted data and AI driven applications to be deployed at scale with robust governance and privacy.
“We recognized this gap and moved very early,” says Wallace Trenholm, CEO and Founder of Sightline Innovation. “The market is crying out for ethical and responsible AI. We are proud to have launched DIFANO as part of SID v2 which will enable owners of data assets to connect seamlessly and benefit from the best tools available, which are compliant with the new regulations including GDPR and CCPA”.
“We set out to balance innovation and growth in the data economy with responsible and ethical practices,” adds Mai Mavinkurve, COO and Founder at Sightline Innovation. “In launching SID v2 and the DIFANO standard today, we are delivering on this aim. SID provides comprehensive tools to codify data trust governance using smart contracts. In the City of Toronto, where we have already completed a Proof of Concept, we look forward to delivering on the fine details of municipal governance, improving efficiency while maintaining privacy and anonymity in citizen services.”
To participate in the open DIFANO standard, please contact Sightline Innovation at firstname.lastname@example.org for further details.
About Sightline Innovation
Sightline Innovation is a leading Canadian AI and Data Trust company, providing tools for customers to generate and control value from data. Sightline Innovation was founded in 2011 and has offices in Canada, the UK and the US.
SOURCE Sightline Innovation Inc