Internet EconomicsPrivacy

What if people were paid for their data?

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AI and the internet of the future needs active participation of all internet players to be successful, and foremost it needs users “qualified” participation through their generated data and engagement.

AI algorithms need to be fed constantly and users data are the perfect food, on condition to be continuous and rich. The idea that “data-unions” gatekeeper could appear and act as “storage” intermediary to influence data price and availability seems compelling under the economic theory of competition but it would mean that people would continue not to know why and which data are so important to progress innovation and rely once again on a 3rd party to replace their informed decision and negotiate on their behalf.

We think differently. We believe more in people’s ability to understand their critical contribution to digital value generation (if helped with an estimation tool) and we believe in the other side of the market (companies) to begin valuing more data from cooperative user rather than a non -cooperative one under the condition to keep the current data automation processing as simple and efficient as it’s now. Hence we believe it’s crucial to avoid data-gatekeepers (which corresponds more to the notion of mydata.bank which has emerged in different places) and rather welcome solutions which facilitate users interaction with digital companies and enhance user’s contribution to 3rd party business under a data minimization privacy principle.

This new scheme however cannot avoid putting transparency sharply upfront, by letting a user becoming knowledgeable about how value is created in digital, how much value he has contributed in the past and how much more he can help contributing in the future, based on predictable engagement metrics and “on-the go deal-making” automation.

Full article published on The Economist and available here.