Knowledge Banking: Legal Structures

So, if you want to make something happen, the situation changes from one that’s about being an innovator; to one that’s about being an entrepreneur.

Internationally there’s alot of work going on around ‘co-ops’, ‘information fiduciaries‘  and related concepts.   One of the very real problems; is that a knowledge bank, by aggregating so much data about a person, whether its linked-together permissively from an array of different locations; or whether, its all stored together by a single provider; either way, from a ‘graph’ point of view, its a ‘honey pot‘ and the means to figure out how to ensure seniors don’t give away all their personal, private and sensitive information for some simple offer, such as a free tank of fuel for their car; are indeed difficult problems to solve.

For instance; in Australia, the means through which human rights translates to Australians is at best, poor..  The Australian Corporations Act binds directors of a company to a series of responsibilities, but these do poorly by themselves provide protection for directors (or companies) from changes to the companies operation that may in-turn exploit the data stored by them.

One means to attend to this issue lies in the means to define the constitution for the company in such a way as to prohibit the company from ever doing so.

But the constitution can be changed by voting stakeholders of the company.  One emergent means of resolving this issue is by way of co-op like structures, such as the crowd-sourced equity financing models offered in Australia, noting there are similar sorts of mechanisms overseas.

The principle consideration is that the organised structure of the ‘knowledge banking provider’ as a legal entity can in-turn be set-up as a ‘social entrepreneurship vehicle’.  In so doing, the objectives would include;

  • Providing ROI to investors on commercial terms
  • Providing protection to account holders and board members and executives, bound to legal responsibilities for the management of the company involved.

It is considered that overtime, if an industry develops, the ability for regulatory frameworks to be brought about can and will improve the security of persons.

Perhaps most importantly; is the means through which the operation of the organisation involved in the storage and use of personal and private data (information / knowledge) be jurisdictionally made the same as the owners of that data, on a default basis.  Whilst people may elect to obtain services elsewhere, this does in-turn complicate matters as is already the case today.