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Data exchanges promise to reward you for your information - Slate

Data exchanges promise to reward you for your information - Slate | The CYDigital Blog | Scoop.it
Enter the so-called data exchange, a new breed of tech startup promising to cut us in on a share of the vast wealth being created by the sale of our personal data. Billing themselves as disruptors of a top-heavy and exploitative industry, these companies promise to build platforms where we can collect, store, and ultimately sell our browser histories, Fitbit analytics, bank statements, Instagram posts, Spotify habits, and all the other data points that drop from us like skin cells and hair follicles as we go about our lives.

In return, you’ll get some crypto tokens that might be worth something one day if enough of us decide to sell access to our lives. That’s because the data exchange market doesn’t actually exist yet. Though a number of these companies have already launched, data is only valuable in aggregate, so these startups will need to attract users—and lots of them–before they can start compensating people in any kind of meaningful way. Until then, all we have are the hopeful predictions of evangelizing entrepreneurs like Roger Haenni, the co-founder of a startup called Datum, who vaguely estimates our data might be worth about $2,000 a year, though others have put the number much lower. 

The problem is that the kind of data these companies want you to sell is not just some inert commodity. It is not the product of your labor. It is the product of surveillance, and surveillance is a tool of manipulation. Shoshana Zuboff’s The Age of Surveillance Capitalism spends 700 pages making just this point, examining how our personal data has been weaponized against us by profit-driven corporations in ways that entrench inequality, damage our interior lives, and undermine the foundations of democracy.
CYDigital/marteq.io's insight:
  1. The value of data is higher...much higher...as marketers need to reach consumers not only with advertising, but product feedback, product reviews, surveys, cust sat questions, etc.
  2. CYDigital will be offering immediate tokens that can be converted to fiat through sales on an cryptocurrency exchange or purchased back (buyback) from CYDigital.
  3. An exchange is a flawed model, as the Consumer loses control over their data. WIth CYDigital, the Consumer never loses control over their data, and in fact their anonymity is protected!

 

Curated by CYDigital: enabling Consumers to capture, share and profit from their data. https://cyd.digital #zeropartydata #dataprivacy

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Is selling your data for cash the new selling-your-plasma-for-cash? - The Hustle

Is selling your data for cash the new selling-your-plasma-for-cash? - The Hustle | The CYDigital Blog | Scoop.it
Most of us trade data for free services (Facebook, Google), and data exchanges aim to give people a way to sell that data instead. 

But since large companies have more data about us than we have about ourselves, it’s not really ours to sell — it’s Amazon’s.

Until consumers actually control their data, data exchanges will give companies a new way to buy data but raise privacy’s cost for consumers.
CYDigital/marteq.io's insight:

You can't sell it if you can't completely collect and control it.

 

Curated by CYDigital: enabling Consumers to capture, share and profit from their data. https://cyd.digital #zeropartydata #dataprivacy

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