MYOBI Standardisation Board manages the data definitions on the trust network. The definitions ensure semantic interoperability and portability when accessing and exchanging data. The Standardisation Board derives definitions from legislation or uses them from authoritative bodies such as the Chambers of Commerce (the Netherlands) or the Company House (UK). Moreover, MYOBI facilitates automated links with authentic source holders to collect company and personal data and request extracts of registration.
Every year, MYOBI requests the extracts of registration of business users of the trust network from authentic sources, adds the current data from the authentic to the trust network and compares the data with the data used by the network. If MYOBI finds discrepancies, MYOBI will inform the Reputation Manager. In addition, the company’s timeline is created on the trust network containing all applied mutations.
By managing and applying data definitions, MYOBI fulfils a critical precondition for using unambiguous data definitions, and MYOBI promotes data reliability. Within the trust network, users know the precise definitions. Also, a company may decide to use the definitions in effectively organizing its business by applying the definitions in its business systems.
The Standardisation Board carries out the management of data definitions within the framework of the TTP-policy. Therefore, the board is clear about its objectives and achieving them and is accountable for the realisation.