Oct 17: Digital technology services major UST Global is collaborating with MIT Trust::Data Consortium, and the two will focus on research and innovation of solutions for the data driven society of the future.
According to an UST Global statement, the MIT Trust::Data Consortium addresses the growing tension between societal data proliferation and data security by developing specifications, software, tools and documentation that help organizations adopt a holistic approach towards cyber security. Trust::Data is building new models for digital identity, data provenance, universal access, and secure privacy-preserving transactions to harness the future potential of global data sharing.
UST Global is focused on innovating digital solutions for the betterment of its customers and society. UST Global’s alliance with MIT Trust::Data Consortium will allow the company to conduct research, and develop innovative solutions in areas of mutual interest.
Raju Chithambaram, Chief Transformation Officer at UST Global and a Visiting Scholar at the MIT Connection Science Lab, will be collaborating on projects like OPAL (Open Algorithms), CoreID to bring game changing innovations to the Fintech, Healthcare, Retail, Media and other industries.
According to him, UST Global is “excited to collaborate with MIT Trust::Data Consortium, one of the most prestigious research institutes in the world, to conduct research and develop innovative solutions. Fintech or Healthcare industries would like to reap the benefit of shared data without ever compromising the privacy – PII (Personally Identifiable Information) or PHI (Protected Health Identifier) – of a single individual. Privacy preserving transactions will break this deadlock and accelerate innovation.”
Sunil Kanchi, Chief Information Officer & Senior Vice President, UST Global, said, “This alliance comes at the right time when UST Global is at the forefront of developing new technologies, products and platform solutions. We are happy to extend our innovation capabilities beyond our Infinity Labs Innovation Centers to MIT Trust::Data Consortium.”
According to Prof Alex “Sandy” Pentland, Founding Faculty Director, MIT Connection Science Research Initiative, added, “We welcome UST Global for a joint research and innovation to solve difficult problems that global corporations and society face today. We are confident that UST Global’s innovation capabilities and strong talent will add great value to our on-going and upcoming projects.”
The Trust::Data Consortium aims at creating open source tools and services that foster the development of a secure internet-based network of trusted data. With the emergence of massive global data ecosystems, The Trust::Data Consortium aims to provide people, organizations, and computers the ability to manage access to their data more securely, efficiently and equitably, while protecting personal data from incursion and corruption.