On the afternoon of October 8, the US Embassy in Vietnam held a discussion about data sharing and how agencies manage the risks of the digitalization process without hindering innovation with the participation of Mr. Daniel Castro, Vice President of Information Technology and Innovation Fund (ITIF) and director of ITIF Data Innovation Center.
According to Castro, about the past 10 years, the world is moving into a data-driven economy. This is an economy focusing on mobile technologies, big data analytics technologies, social networks, etc. At the same time, the world is moving towards an algorithmic economy with new technologies such as AI, the Internet connecting everything, blockchain. All these technologies bring new potentials and opportunities.
Data is the catalyst, the driving force of innovation in this economy and the digital transformation process with a focus on data is taking place in all areas. The question is how to both facilitate this process to go smoothly and ensure security and security in cyberspace. And the key to current data security is cloud computing.
“Cloud computing technology brings many benefits such as, lowering costs, improving capacity or processing capacity of the system, enhancing security, ensuring interoperability as well as increasing compliance with regulations and speeding up product innovation, "Mr. Castro said.
However, cloud computing also causes many concerns such as privacy and security concerns. To solve this, many governments have adopted policies to block data flow with concepts such as user data, government data not stored externally, but stored only in domestic servers.
"These policies have prevented the flow of data across the globe. This has increased costs for businesses. Especially for large businesses, when there is no free flow of data, the cost may increase to 20-30%, "the expert said.
Mr. Castro cited a result of a market research organization saying that China's policy of blocking data free flow caused the country to lose about 1.1% of its GDP. He said that, for example, in the US, the first time when cloud computing appeared, many people were also concerned.
"But right now, the US government and businesses have a strategy called 'Cloud First', which means prioritizing cloud computing. Even the US Department of Defense is planning to invest in a cloud system to store confidential information, including nuclear information, "said Castro.
According to statistics, the cause of most of the security incidents in the US does not come from cloud service providers but due to human error during the operation of the system. Therefore, Mr. Castro sets out four principles to ensure the promotion and take advantage of the innovations while minimizing risks.
Mr. Castro is an author and speaker on many issues related to information technology and network policy, including security, cybersecurity, intellectual property, network administration, e-government, etc. In 2013, Castro was on the FedScoop list of "25 individuals under the age of 40 with the greatest influence in the field of government and technology". In 2015, Commerce Secretary Penny Pritzker appointed Castro to the Trade Data Advisory Council.