Issue link: https://maltatoday.uberflip.com/i/1191618
12.12.19 11 INTERVIEW data algorithm that they would openly dis- close, which would be run within the MADANA system. Now, the competing company can rest assured that their re- search data would be used for this pur- pose alone, as the raw data set would not be transmitted. e competing company could charge a fee for the spe- cific insights generated by the analysis, and monetise data previously consid- ered too sensitive to sell. What about the GDPR? Is it a step in the right direction towards a proper data management market? One of the key concerns for any com- pany operating today is how to meet the requirements of the GDPR. MA- DANA does so by not storing customer data, and releasing only the results of the analysis to the buyer. e raw data is destroyed, once it has been used for analysis. e concept of "privacy by design" plays a huge role at MADANA, thus we have created a decentralized sys- tem with consent management. ese patented analysis processes secure a just one-time analysis on the provided data and make sure that the data can't be breached, leaked and resold behind the users back. e Right to Access is at all times provided since the data pro- ducer is at all times in control of his or her own data. Because the data producer's data is only being "rented" for an analysis and then deleted after the analysis is done, the Right to be Forgotten is achieved. at said, while the GDPR was a great first step, a lot of work remains to be done in order to create a digital data market in Europe that is secure against data breaches. In our opinion, Brussels needs to put more focus and effort into privacy preserving technologies or, as we at MADANA call it – PrivTech! Perhaps we may need more regulation on data, but investment in enhancing the secure data infrastructure industry cannot be neglected. I feel that it is far too hard to receive funding for deep tech startups in this field. Data priva- cy and transparency are key values for which Europe is known; we should play to our strengths and collaboratively push PrivTech forward. A crazy future filled with drones and robots is before us, and other world regions are already ahead of us in many technological fields, so we need to remember what we stand for and start protecting our data and privacy now. is is why MADANA sees itself as a secure bridge and gate- keeper of European data. Cybersecurity is of great concern in many sectors, not just tech companies but also service providers, manufacturing industries, and governments. How do you see this major challenge for Europe at MADANA? As privacy is our core business, we see cybersecurity challenges as opportuni- ties. PrivTech is a whole new industry that is currently emerging within the big data and data analytics market, and it is in my opinion the only way for the success of future tech companies in Eu- rope. Nevertheless, we have to change the old-fashioned mindset within our political system and start investing to- day into our tomorrow. We need real technical solutions which mathemati- cally prove and promise data privacy: there can be no room for legal or tech- nical loopholes. e EU and Europe as a whole need to invest more into tech- nological approaches, such as MADA- NA. Only this way we will finally be able to put a stop to breaches of Europeans' data. The concept of 'privacy by design' plays a huge role at MADANA, thus we have created a decentralized system with consent management