Pricing Your Value — How Should You Think About The Value of Your Data In A Marketplace?

PikcioChain
Nov 20, 2018 · 3 min read
  1. How often the data get refreshed. Some data like tokenized college degrees will have value for specific limited purposes — such as when a new employer is doing a background check. However, neither one’s completed college degree nor date of graduation change in one’s lifetime. Other data like purchasing patterns or travel history change frequently and therefore have more use cases and will be bought more often.
  2. Value increases as the entire data set increases. Even in situations where one user’s data are highly desired, most data buyers won’t see value until they have a large set of data. Here the network effect is important. Using the medical data example again, the pharmaceutical company likely has no use for only one person’s data but an aggregated set of data from thousands of people with the same condition would be highly valuable.
  3. Even personally identifiable data may require sharing value with others. While we don’t like to admit it, even our most personal data are often not ours alone. Driver’s licenses are issued by governments and those governments have a say in how license numbers may be used. Similarly, to keep with our medical example, medical records are created by doctors and hospital staff so if a consumer agrees to be part of the anonymized data set that’s aggregated and sold, the individual may get a portion of the amount the pharmaceutical company pays because the hospital or doctor will also get a portion.

PikcioChain

PikcioChain: The secure blockchain-based exchange for personal data.

PikcioChain

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The personal data chain

PikcioChain

PikcioChain: The secure blockchain-based exchange for personal data.