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4 thoughts on “Why not use Data as a currency?”
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Why not use Data as a currency?
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English | EN
Related posts
4 thoughts on “Why not use Data as a currency?”
Leave a Reply
Yes! There are many initiatives trying to do just this: to find ways to put people back in control of their data AND find ways to monetize the data available. It also touches on the topic of Vendor Relationship Management (VRM) as advocated by a.o. Doc Searls: http://www.telco2research.com/articles/VR_VRM-why-how-telcos-leading-role-doc-searls_Full
Hi Erik,
The video at this link it excellent. It does a really good job at explaining how we could share and use our personal data.
However, Doc Searls does not talk about how valuable personal data is and suggests that Telco’s could charge you for saving and sharing it responsibly. With the proper trust in place, I think that this trusted provider could, instead of charging, give discounts and benefits for storing your information with them.
It would be fantastic to have a central location to store my data. Imagine if I didn’t have to redirect all my mail and bills if I moved house!
Excellent article, John!
I think we’re starting to see a trend that is doing exactly what you are describing. The Internet of Things is predicted to hit somewhere around 25 billion sensors by 2020, each collecting data. The best clusters of these will be designed to push data into big data repositories. That data could give insights into hugely powerful things – traffic patterns, stock trackers, regional purchasing trends, and so forth. Companies that start collecting and housing data in the right way will own something incredibly valuable in the coming years.
Hi Mike,
Yes, I didn’t get to address the data which will be generated by IoT.
Every time I walk past a shop, travel by bus, walk into an Accident and Emergency dept, etc… my data is left behind. If there is no way for us to take responsibility for it, it will be used irresponsibly.
On the other hand, this is valuable info and if I had a trusted way to share this it, I would. Especially if it makes my life easier, improves government, better services, etc…