Value co-creation through digital twins in decentralized data ecosystems

Digital twins (DT) have been seen as having the potential to revolutionize data management and are gaining importance in various industries. In this paper, we explore the concept of DTs in the context of decentralized data ecosystems and the role they can play in supporting value co-creation. In decentralized data ecosystems, such as Gaia-X, DTs provide the connection for various partners to create value together. However, since the area is still evolving, there are some challenges need to be addressed. This paper aims to provide a comprehensive understanding of the elements of the dataspace and a concept framework for implementing one, as well as the future implications for industries adopting such technologies, through a careful analysis of these elements and challenges.