VCMx Digital Trade Governance
As the use of online digital platforms continues to grow, the collecting of information about every aspect of human behaviour and decision-making provides tremendous economic power.
As emerging digital technology transforms our world, we pledge to actively collaborate with industry, consumers, governments, academia and society to make better and more ethical decisions.
There was a time that oil companies dominated the globe, but "black gold" is no longer the world's most valuable resource — it's been surpassed by “Data”.
On one hand, the data can be used to make business tools and services better, which is good for business and consumers to learn what buyers, sellers and trade service providers want, based on the use of their products and services, and can adjust to them in response to those needs, “Global Digital Value Chains”
Digitization necessitates increasing responsibility — and jurisdictions are struggling with how to contain, regulate and protect all those ones and zeros.
VCMx Exchange Governors and Regulators are tasked to establish “standard form trading protocols” for all of its members and to be able to intervene effectively"— with which to level the economic data playing field
"And very simple interventions can help enormously — for example, verification of VCMx members, products and services and to enable the IKTS/VCMx knowledge and trade station to transfer knowledge and value chain equity earned for its members.
When data is stored in Canada, it's a lot easier to legislate its uses and address privacy concerns and is one way to enforce business and consumer protection
VCMx Digital Trade Governance to create and enforce rules, policy and guidance concerning matters of privacy, transparency, inclusivity, accessibility and inequality before they become systemic problems.