Data drives business today, and both users and customers are at a disadvantage.
The data you are providing for free is actually worth a good deal over the long-term. These days, Congress and the administration are both looking into data privacy with an eye towards reinforcing it.
Google generates tremendous profits from searches. If you are looking for certain popular items and using advertising as well then you may be further upping how much your information is worth.
Facebook is even more invasive.
Despite this, many take little or no action when it comes to giving away information. We willingly trade data for free services. However, there are premium services, paywalls, etc., that put a halt to such sharing.
People don’t take advantage of them because they want to use services like Facebook and Google for “free” and thus don’t complain. But how about getting better control over our data and ways to share it?
Businesses use your data to for purposes of collection and innovation. But watchdogs increasingly are making it difficult to collect such information As the Internet expands and becomes more intricate, there are ways to present you information so as to make a regular return.
For instance there are applications like 1010data. This application let you control you what you have to offer and parcel it out in a disciplined way. It was set up to share information from many different parties.
Using 1010data you can allow the use of a variety of data and analytics. 1010 is a right step in the trend towards controlling your own data and information.
But then again, it’s centralized.
The blockchain offers the next generation solution, is the form of decentralization of data. This is what Datum, a decentralized data marketplace platform is set on doing.
“There is a business model in buying data from users directly. Blockchain technology makes it possible even for businesses and individuals that do not have the resources of, say, Google or Facebook or Apple,” according to Theo Valich, head of growth at Datum.
In fact, Datum’s mission is to provide services via the opening and provision of every kind of data. “Transparency, participation and collaboration are the three core concepts on which we develop our services, always on the basis of strict methodological rigor and professional honesty.”
The Datum explanation adds. “We contribute to development and consolidation … related to the generation of value through open data. We … want to [use data in] a democratic, responsible, intelligent and open way, always for the benefit of citizens.
The company realizes that the current business model is increasingly difficult.
When one side is giving away valuable information to corporations, then the information itself is not being properly valued.
It is important to value such information properly because the sharing of such information is ongoing and long-lasting. Improved security and enhanced control of data can be beneficial to both users and businesses. It begins with companies like Datum and the utilization of blockchain which are valuing data and disciplining its use.