Who owns all the data collected by ‘smart cities’?

This is a major issue, since smart cities are all about the collection and processing of huge volumes and varieties of data. The answer to the data ownership question will go a long way to determining who will benefit from the project and in what ways.
Key data stakeholders include the citizens whose activities will generate so much of this data, the cities who rely on data for planning and development, and the private sector companies that increasingly build entire business models on extracting value from data.