ABSTRACT
Chapter 3 focuses on the key challenges associated with defining the scope of CDS 3.0 frameworks: their sectoral coverage, the integration of action initiation and cross-border connectivity. Section 3.1 discusses the practical challenges of enabling an economy-wide CDS 3.0 regime spanning multiple sectors. This is important since third-generation CDS frameworks are unlikely to be launched across all sectors of the economy at once. Considering the experience of Australia's cross-sectoral Consumer Data Right, this section discusses how CDS 3.0 regimes could be strategically expanded from a handful of preselected sectors to the rest of the economy – either via sectoral designations, or by means of a principle of reciprocity. Section 3.2 proceeds with a discussion about the relevance of ‘action initiation’ (or ‘write access’) functionality, which allows customers to permit service providers to act upon the information shared through a third-generation CDS framework (e.g., by initiating payments and changing their product or service provider). Section 3.3 concludes with an analysis of the desirability, potential and risks of cross-border connectivity among domestic CDS 3.0 systems.
