MYOBI (Mind Your Own Business Information) is a trusted third party (TTP) that operates a trust network and provides trust services on this network. On the trust network, companies manage their own company data and personal data of employees and customers. This is called an information ecosystem.

By accepting the TTP policy, they make agreements with partners, who also use the trust network, on how to handle each other’s company and personal data. Partners can be customers, employees and/or suppliers. With the help of their information ecosystem, companies exercise control over their business and personal data. People do that with a personal environment.

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As a trusted third party (TTP), MYOBI authenticates the identity of companies and individuals, provides companies and individuals with electronic signatures on the network, shields data on behalf of companies and individuals, and certifies and deposits data on behalf of these companies and individuals. We can compare the role of MYOBI on the trust network with the role of a notary and information broker.

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Participating in a network of trust offers companies and individuals added value. We list the main arguments:

• The desire of companies and individuals to control their data and thereby to live and do business in freedom;
• Comply with European and national data protection legislation (such as the European General Data Protection Regulation (GDPR) and the Trade Secrets Act (TSA); and
• Organize business activities effectively and cost-efficiently.

The nature and size of the business activities and the extent to which the business processes, in which control measures are included, effectively support the business activities determine the size of the added value. The management often has an impression of the quality of the internal organization of the business activities and can estimate the extent to which this organization can absorb internal and external changes.

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Users have access to their own information ecosystem with which the company manages its own business and personal data, as well as access by partners to that data. After successful registration, MYOBI gives the legal representative access to it.

Business users enter into processor, data exchange or director agreements based on the TTP policy, including accountability for organizing compliance with legal and contractual obligations. Business users show the level of compliance in their Accountability Seal and publish the seal in the MYOBI public register.

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The reason for a request to participate in the trust network usually lies with an existing user of the trust network. Gaining assurance about the reliability of the new partner’s data is the user’s motivation to invite the partner to join the network.

The user of the trust network asks MYOBI to authenticate the identity of the partners’ entities and representatives. MYOBI does this by, among other things, checking the identity of the partner on the basis of public sources such as those of the Chambers of Commerce (KvK).

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A company becomes a user of the trust network by registering. The initiative can lie with the company itself: go to the MYOBI website and register yourself. The initiative can also lie with a user of the trust network: he or she asks MYOBI to start a registration process with his business partner of the company.

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