The special attributes of data elements determine which paradigm of governance is to be adopted, and the construction of a data registry system integrated between substantive and procedural law requires the search for a suitable governing paradigm to build the institutional framework. In the early stages of the construction of a data registry system, the reliance on a singleright paradigm to construct the system of data registration has led to a series of problems. The interestright symbiotic dimension of the data registration should be taken into account. The registration system essentially condenses and shapes the relations of representative production, and it functions to anchor and evolve the major interests of factors of production in different eras. While the registration systems in the industrial economy address the procedural framework of property rights and shape the mechanism of factors of production that form the price, the unique attributes of the dataelement flows require that the initial system of registration forms new qualitative relations of production compatible with the distribution of data value as the metafunction of the system of data registration. The pursuit of constructing the system of data registration should be the order of the data value cocreation and the fair distribution of benefits. This system also promotes the realization of common wealth in society relying on the registration of data revenue certificates to incentivize an ecosystem to share the data benefit.