Each of us generates a significant amount of data each day during the normal course of our activities. Our phones and computers track our movement and actions, while our browsers and websites track our online activities. As we’ve seen, some of the largest tech companies can know more about us and our lives than our families and those closest to us.
As of now, that data is owned by the people who collect it, and they’re allowed to do anything they want with it. They’ve sold it, used it to target us with advertisements, and have analyzed the vast quantity of data to draw conclusions on whole populations, allowing them to monetize it.
We’ve also seen it abused. Some companies haven’t done enough to protect our data, resulting in breaches that have made our private information insecure. Others have sold it to disreputable companies, allowing them to target us for everything from marketing fraudulent services to influencing elections. Companies themselves have asked for better and clearer rules.
This needs to stop. Data generated by each individual needs to be owned by them, with certain rights conveyed that will allow them to know how it’s used and protect it. These rights include:
Consent should be informed and active – companies are responsible for ensuring that they collect a positive opt-in from each user before collecting any data, and this opt-in should be accompanied by a clear and easy-to-understand statement about what data is being collected, and how it is going to be used. You can waive these rights and opt in to sharing your data if you wish for the companies’ benefit and your own convenience – but then you should receive a share of the economic value generated from your data.
Help make this idea a reality.
Data is the new coin of the realm in many industries. In many settings, our data is being sold and resold for large sums without our knowledge. Our data is immensely valuable - we should be able to share in the economic value generated, which could be even higher with our buy-in.