Understanding the Personal Data Economy

Explaining the purpose and vision behind giving users back control over their personal data can be one of the trickiest things we have to do.

While more and more people are becoming aware of what happens to their data behind their backs, and the personal data economy, including solutions such as ours, continues to grow apace, for those needing to start from the basics there is a lot to take in.

In future, that job will be made a lot easier by this excellent whitepaper from the Mobile Ecosystems Forum, which is the result of many interviews, including with our founder and personal data privacy expert Julian Ranger.

This, from the foreword, is an effective summing up of the problems facing the data harvesting industry today, and why a change to an individual-centric is both inevitable and beneficial to all: “Simply, the personal data economy describes a powerful new idea: letting individuals take ownership of their information so they can share it with businesses on their terms.

“Interest in the idea is growing for reasons of efficiency and ethics. The average individual has personal data stored in dozens of different locations. but it can be hard to access this information and then share it. Giving data back to individuals would solve this.

“It would also address the concerns some people have about the way companies accrue data about them and, indeed, many companies would welcome this too. Data harvesting is expensive and can be ineffective; companies are looking for an alternative.”

We have always talked about digi.me’s Internet of Me vision, where the user is at the centre of their connected life, being a true win-win for both users and businesses, and the paper explores this in depth in a way that is accessible and interesting for all.

I thoroughly recommend a full read of it – especially as at 33 pages it’s reasonably short and concise!

 

 

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s