At The Cost of Consumer’s Privacy, Data Becomes The Most Expensive Digital Currency
|© 2021 by IJCTT Journal|
|Year of Publication : 2021|
|Authors : Munjal Shah|
|DOI : 10.14445/22312803/IJCTT-V69I7P106|
How to Cite?
Munjal Shah, "At The Cost of Consumer’s Privacy, Data Becomes The Most Expensive Digital Currency," International Journal of Computer Trends and Technology, vol. 69, no. 7, pp. 43-47, 2021. Crossref, https://doi.org/10.14445/22312803/IJCTT-V69I7P106
In the IT industry, data growth is increasing with every passing day. The need of the day is to have the individual rights reserved to share or use the data as per the desired cost. The implications of the data submission were not fully realized until technological maturity was reached. The right to use and manipulate the data resides with the data owners and handlers: data aggregators, websites, socializing platforms, utility companies, brokers, etc. Had the data ownership been restricted to the individual whom the data identifies, the data giants would have to pay for the use of their data for any e-commerce, sales, or digital marketing purposes. Not forgetting to mention, the data payment should be something of monetary value and not some free service or offered discounts. This would break the monopoly of the data giants, and a poor individual may benefit by merely getting registered on a platform that asks for personal data access. This is a much-needed development required to revolutionize the data ownership industry. The data generators need to realize the business worth of their data asset. Every individual must safeguard his data, must ensure to reserve the legal right to have full authority to share his data and encash it at his own terms and conditions rather than offering it for free to already wealthy organizations, thus adding to their net worth.
Data Currency, Machine Learning, Data Science, Data as a service, Consumer Privacy, Data Aggregators, Data Protectors.
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