Assessing the value of decentralized and interoperable data storage for service providers

Abstract

This article identifies how decentralized and interoperable storage solutions create value for service providers. These solutions are invented to serve the fundamental principle that data should not be confined behind company walls. Instead, these solutions facilitate the flow of data between different stakeholders, enabling innovation in data ecosystems through the reuse of information. Through multiple stakeholder interviews, this research explored different ways in which such solutions bring value to service providers. Utilizing the affordance theory, we conclude that, compared to relating technologies such as blockchain and big data analytics, decentralized and interoperable storage solutions bring two additional opportunities; (1) an affordance on interoperable data exchange which enables the reduction of costs (e.g., data cleaning) and (2) an affordance on legal risks and compliance facilitating the reduction of compliancy costs and potential legal risks.