The Power of Transparency: How Open Data Shapes Our World
Published: 2024-02-21Open data is important in today’s world. It helps us understand different parts of society that we couldn’t see before. Companies using open data want to be more transparent and accessible to the public.
One example is Open Banking, a global system that changes how financial data is shared worldwide. Even though there are challenges with different rules in each country, sharing financial data openly helps create new ideas and growth in the fintech industry.
Recent events like the conflict between Russia and Ukraine show how open data can help us learn about serious issues like military deaths. By working together and sharing data, we found out about 45,000 Russian soldiers who died in Ukraine. This shows how important it is to report things honestly during wars.
In healthcare, the US and Finland are using open data to make patient care better and reduce mistakes. The COVID-19 pandemic has shown us how crucial open data is for healthcare decisions. It has led to changes in how we use technology and pay for healthcare.
People should know about open data because it helps with honesty, responsibility, and making smart choices. If we understand how companies use open data, we can spot false claims about being sustainable and make better decisions.
Companies that use open data are usually seen in a good light. They show they are honest and responsible, which makes people trust them more. This leads to stronger relationships with customers.
A good example of open data helping is when tech companies and governments work together to track COVID-19 data. By sharing information, they can make plans to fight the pandemic. This shows how powerful open data can be in solving global problems.
https://www.finextra.com/blogposting/25755/how-solving-interoperability-will-unleash-cross-border-open-banking-innovation