Solving the “Data Rights” Problem: It’s about Compensation
The world of marketing intelligence is changing.
The problems of data privacy and security have become such mainstream speak and such a mish-mash of concepts and proposed solutions that the facts themselves often become muddied.
It’s made worse as the technology seeking to solve these problems evolves at a breakneck pace, leaving few who truly manage to keep up with and understand the depth and implications of the growing field.
Today, we’re going to set the record straight and give you, the consumer, an in-depth look at the real issues and solutions to the “data rights” problem.
Privacy; everyone wants it.
It’s jargon in today’s technology dictionary that’s been stripped of its definition by anyone wanting to throw another buzzword into their value prop. While it’s certainly laudable that companies are concerned with protecting your data from prying eyes, the reality is that very little of your data is truly private in the Information Era of today.
Your phone apps log your location. Your ISP looks at what sites you visit. Your mortgage reveals your income and details about your financial life. Your electrical company measures how long you stay up at night. All of these factors create a data profile that companies use to track and target you, the consumer.
The first solution that many call for is further regulation. What most people don’t realize is that the government is interested in that profile of yours as well.
Certainly, the regulatory bodies will make a show of bringing Facebook and Google to answer for gathering data on you, but it isn’t going to deter what is arguably the most profitable model of their business because all of that data is actually really, really valuable to the government as well.
Look no further than reports from outlets like the New York Times, revealing how a single program associates you with every single photo you’ve ever been in across all of social media. With police using the program to scan every face on camera for suspected criminals, we’re already seeing the lines of privacy and safety blurred:
That’s right. This technology is already on the streets, powered by social media to identify and track citizens, even if they haven’t committed a crime.
And if you think the government is going to step in and regulate, realize that this AI-powered application is already used by over 600 law enforcement agencies. It’s a floodgate that’s been opened by individuals not aware of the full implications of what they offered and, sadly, your personal information becomes their bargaining chip.
Remember the saying:
If something is free, you’re the product.
It’s not just Facebook, Google, or various other applications you may use in your day-to-day activities. The growing trend of ‘unplugging’ from these services doesn’t change that DMVs, Power Companies, Map Services, ISPs, and countless others are all collecting these data points to bundle up and sell.
Fighting this, while functioning through normal everyday tasks, is almost completely futile given the sheer number of companies that are collecting information on you.
Instead, the conversation is shifting. Instead of companies profiting solely from the data you provide, consumers are calling for their fair share.
This is the core concept of data ownership.
If you are the owner of your data, then it is only right that you be compensated for the collection, sale and/or transfer of that data.
Currently, it’s not so straightforward how consumers can take back ownership, or furthermore, be paid for, their data on an individual basis. But, that is changing. Blockchain technology is ushering in a new era and a new frontier for advertising that puts individuals back in control. Permission.io is trailblazing this new frontier with its blockchain and cryptocurrency (ASK).
Permission.io can be thought of as an “agent” for your time and data. Its platform makes it easy for you to own, control and profit from your information by rewarding you for the revocable data you choose to share while engaging with the web as you normally do. From building your profile to being entertained to completing a successful shopping experience, the ASK cryptocurrency powers a trusted and fair transaction between you and the advertiser.
It’s through the advances of cryptocurrency and the increasing expectations of consumers to receive value in exchange for their data that the ASK ecosystem flourishes. Permission is building a future where you control who has permission to advertise to you and are compensated for the value you bring to that relationship.
Learn more about the ASK ecosystem and the platform Permission.io is building for the future by clicking here.