In 2018, data collection produced 76 billion dollars.

in #money5 years ago

It is not possible to turn your eyes to reality about the data that is shared voluntarily on the Internet. It is a big business where big companies are getting the most profit.

In the middle of all this rain of data there are legal movements to try to make the enrichment a little more even, every time you click, or give a like you are delivering data about your online behavior and these are used by companies to offer what In all privacy policies it is offered as a better experience.

Economists, technologists, academics and legislators are looking for different ways to establish a value to the data, some suggest that the information is considered a marketable asset or that it is considered as labor. Facebook and Google produce millions with your information and if the information has an owner, that owner should receive some economic benefit.

The community is the supplier of raw material to generate the sale of products in digital environments.


Source

No digital service is free.

Virginia Senator Mark Warner proposed with another colleague a law that requires internet companies to regularly report the data they collect from their users and publish the value of the data.

"I am not convinced what the strategy should be," said Warner, who was an investor in the technology sector and is a frequent critic of the giants of that industry. "But the current state of immense power imbalance cannot continue like this."

About 76 billion dollars was the corporate benefit that produced data collection to companies in 2018, this figure will increase dramatically in the future.

For Michelle Rempel in Canada, a conservative member of parliament, doubts that governments can keep up with the growth of technology companies, since they already have a lot of experience in the use of data, for Rempel the government must intervene but more than A regulator will be to design basic rules.

"The goal should be to help build a fair market for data," Rempel proposed.

These rules for the construction of a data market must include defined property rights for users to control their data. Currently, there are emerging companies dedicated to data collection and marketing such as Meeco and UBDI (Universal Basic Data Income) although they sound promising for now are new companies with little experience and little data.

To read the original article, click here.

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