UST Global has announced its collaboration with MIT Trust Data Consortium and will focus on research and innovation of solutions for the data driven society of the future.
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’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, UST Global is a Visiting Scholar at the MIT Connection Science Lab and will be collaborating on projects like OPAL (Open Algorithms), CoreID to bring game changing innovations to the fintech, healthcare, retail, media and other industries.
Commenting on the alliance, Raju said, “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.”
Prof Alex “Sandy” Pentland, Founding Faculty Director, MIT Connection Science Research Initiative said, “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.”