Alex Pentland

Thomas Hardjono

David L. Shrier

How to create an Internet of Trusted Data in which insights from data can be extracted without collecting, holding, or revealing the underlying data. Trusted Data describes a data architecture that places humans and their societal values at the center of the discussion. By involving people from all parts of the ecosystem of information, this new approach allows us to realize the benefits of data-driven algorithmic decision making while minimizing the risks and unintended consequences. It proposes a software architecture and legal framework for an Internet of Trusted Data that provides safe, secure access for everyone and protects against bias, unfairness, and other unintended effects. This approach addresses issues of data privacy, security, ownership, and trust by allowing insights to be extracted from data held by different people, companies, or governments without collecting, holding, or revealing the underlying data. The software architecture, called Open Algorithms, or OPAL, sends algorithms to databases rather than copying or sharing data. The data is protected by existing firewalls; only encrypted results are shared. Data never leaves its repository. A higher security architecture, ENIGMA, built on OPAL, is fully encrypted. Contributors Michiel Bakker, Yves-Alexandre de Montjoye, Daniel Greenwood, Thomas Hardjoni, Jake Kendall, Cameron Kerry, Bruno Lepri, Alexander Lipton, Takeo Nishikata, Alejandro Noriega-Campero, Nuria Oliver, Alex Pentland, David L. Shrier, Jacopo Staiano, Guy Zyskind An MIT Connection Science and Engineering Book

A New Framework for Identity and Data Sharing

Trusted Data, revised and expanded edition

How the global financial services sector has been transformed by artificial intelligence, data science, and blockchain. Artificial intelligence, big data, blockchain, and other new technologies have upended the global financial services sector, creating opportunities for entrepreneurs and corporate innovators. Venture capitalists have helped to fund this disruption, pouring nearly $500 billion into fintech over the last five years. This book offers global perspectives on technology-fueled transformations in financial services, with contributions from a wide-ranging group of academics, industry professionals, former government officials, and current government advisors. They examine not only the struggles of rich countries to bring the old analog world into the new digital one but also the opportunities for developing countries to “leapfrog” directly into digital. The book offers accessible explanations of blockchain and distributed ledger technology and explores big data analytics. It considers, among other things, open banking, platform-based strategies for banks, and digital financial services. Case studies imagine possible future fintech-government interaction, emphasizing that legal and regulatory frameworks can help to create trust in financial processes. The contributors offer novel takes and unexpected insights that will be of interest to fintech experts and nonexperts alike. Contributors Ajay Bhalla, Michelle Chivunga, John D’Agostino, Mark Flood, Amias Moore Gerety, Oliver R. Goodenough, Thomas Hardjono, Sharmila Kassam, Boris Khentov, Alexander Lipton, Lev Menand, Pinar Ozcan, Alex Pentland, Matthew Reed, David L. Shrier, Markos Zachariadis

Financial Innovation in the Connected World

Global Fintech

Howard Shrobe

Experts from MIT explore recent advances in cybersecurity, bringing together management, technical, and sociological perspectives. Ongoing cyberattacks, hacks, data breaches, and privacy concerns demonstrate vividly the inadequacy of existing methods of cybersecurity and the need to develop new and better ones. This book brings together experts from across MIT to explore recent advances in cybersecurity from management, technical, and sociological perspectives. Leading researchers from MIT's Computer Science & Artificial Intelligence Lab, the MIT Media Lab, MIT Sloan School of Management, and MIT Lincoln Lab, along with their counterparts at Draper Lab, the University of Cambridge, and SRI, discuss such varied topics as a systems perspective on managing risk, the development of inherently secure hardware, and the Dark Web. The contributors suggest approaches that range from the market-driven to the theoretical, describe problems that arise in a decentralized, IoT world, and reimagine what optimal systems architecture and effective management might look like. Contributors YNadav Aharon, Yaniv Altshuler, Manuel Cebrian, Nazli Choucri, André DeHon, Ryan Ellis, Yuval Elovici, Harry Halpin, Thomas Hardjono, James Houghton, Keman Huang, Mohammad S. Jalali, Priscilla Koepke, Yang Lee, Stuart Madnick, Simon W. Moore, Katie Moussouris, Peter G. Neumann, Hamed Okhravi, Jothy Rosenberg, Hamid Salim,Michael Siegel, Diane Strong, Gregory T. Sullivan, Richard Wang, Robert N. M. Watson, Guy Zyskind An MIT Connection Science and Engineering Book

David L. Shrier

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