Guernsey Data Trusts: Three Important Reasons Why You Should Use Them

Whilst the financial value in data is being increasingly recognised, data itself is starting to be seen as a commodity that perhaps is now more important than oil. However, whilst significant technical advancements continue to be made to safeguard data, advancements in the legal tools to protect data have possibly lagged behind. Further, different countries continue to introduce conflicting requirements for protecting and requiring disclosure of data (such as the EU's General Data Protection Regulation and the US PRISM program), creating the so called "splinternet" phenomenon and additional legal risks for international businesses.

To solve these issues, at Walkers we have been working on a project to develop an innovative legal structure to hold and protect data.