Your Data Has Value And You Control That Data. What Choices Do You Need To Make?

PikcioChain
Nov 23, 2018 · 3 min read
  1. Do I want to share value with the data creators? As mentioned in the last post, most of our data are co-created. Hospitals and doctors take medical histories, so the data about us medicine usage etc. wouldn’t exist in any usable form if not for the intake process at the hospital. Similarly, airlines co-create itineraries with us when we fly, so our travel history data aren’t ours alone. If we sell data that was co-created then those collaborators may be deserve a portion of the price. Of course, individuals get nothing for their data now so this may not seem like a big issue, but maybe you think those collaborators already got compensated and you don’t want them to get more — even if it means you don’t sell that data.
  2. Am I willing to treat my data portfolio like a stock portfolio? It’s possible to simply check off a list of what kinds of data you’re willing to sell and what kinds you won’t sell. But it’s also likely that as your circumstances change you may also change your opinions about what data you will make available. For example, maybe as your wealth rises you decide there’s a better return for your purchase history now. Or as your health improves that there is less value in your current medical records. Perhaps you have new data that weren’t available before and you need to proactively decide if you’re willing to add that data to your available pool. This all means that you need to constantly re-evaluate what data you’ve consented to sell so you can revoke that consent or give consent for new data. This requires you to monitor your data in ways that you haven’t in the past, and there’s a time cost of that monitoring.

PikcioChain

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

PikcioChain

Written by

The personal data chain

PikcioChain

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