The CYDigital Blog
204 views | +1 today
 
Scooped by CYDigital
onto The CYDigital Blog
Scoop.it!

Oregon expand their data privacy laws - Lexology

Oregon expand their data privacy laws - Lexology | The CYDigital Blog | Scoop.it
In Oregon, the legislature expanded its data breach notification statute (ORS §§ 646A.600 et seq.). Oregon’s updated data breach law, which was signed by Governor Kate Brown on May 24, 2019 and goes into effect on January 1, 2020, expands breach notification requirements to cover “vendors,” which it defines as “a person with which a covered entity contracts to maintain, store, manage, process or otherwise access personal information for the purpose of, or in connection with, providing services to or on behalf of the covered entity.” Under the new law, a vendor must notify Oregon’s Attorney General when subject to a security breach affecting the personal information of over 250 Oregon consumers, or when the number cannot be determined. Vendors do not need to notify the Attorney General if the covered entity has already made the notification. Vendors must also notify their business customers of the breach within 10 days – a change from previous language mandating notification “as soon as practicable.” The law also expands Oregon’s definition of personal information to include usernames, but only when combined with authentication factors.

CYDigital's insight:

Eventually, they'll be a federal law as well, but that won't negate the state-by-state legislation. OR, MA, ME, WA, CA, TX so far. NY next...BIG.

 

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

more...
CYDigital's curator insight, June 12, 11:34 AM

Marketers must be aware of the state by state legislation protecting consumer data and privacy. 

 

Curated by CYDigital: Delivering Consumers who want to buy from you. https://cyd.digital #zeropartydata #martech

Your new post is loading...
Scooped by CYDigital
Scoop.it!

Libra: What’s Underneath? - John Rizzo, Co-Founder & CTO, CYDigital

Over the last week or so we have heard quite a bit about what Facebook’s Libra and Calibra are and how it all works. We have heard about the value it will bring to the unbanked and how it will lower the cost of transactions. We have heard how the formation of Calibra will protect users’ transaction data from being collected. We have heard about all the large companies involved. On the other hand there have been a plethora of articles about how Libra is neither anonymous nor decentralized, two very important qualities of a cryptocurrency. But what is the impact of Libra and Calibra on the world of cryptocurrency?

 

How Does Libra Generate Revenue?

 

There are three pieces to Facebook’s entrée into the world of “cryptocurrency:” the currency Libra, the entity charged with managing the wallets (and more) called Calibra, and the Libra Association, a group of companies that Facebook has gathered together to support Libra.

 

The Libra Association is made up of 29+ companies, each with one vote (what they will be voting on we don’t know). What is pertinent is the level of investment from each company. As noted on the Libra Association site, the minimum investment is 10 million USD. We have also been told that that the Association will generate revenue from the interest on the fiat currency , and on transaction fees which they have said will be a fraction of a cent. Let’s cover the transaction fees first.

 

 

Since Libra is a permissioned blockchain, only Libra Association members can verify transactions. The members with the most processing power will earn the most transaction fees. Don’t fall into the thinking that since the transaction fees are so small that this will be an insignificant number: with millions of transactions happening every day they will generate a significant revenue stream. Initially, the system is built to handle a 1000 transactions per second. I believe that within six months (or less) of launch they will be running at full capacity. If the transaction fee is a half cent, that means $5.00 per second which equates to about 160 million USD a year, just at initial capacity. So if you assume 29 companies invest 10MM USD each, that 290MM USD gives the Association 160MM USD return in one year. Not bad. But that’s a minimum number. The forecasted number of Libra users worldwide is 2.1B, which means that the initial system will be able to handle one transaction per user every 25 days, and it’s safe to say that each user will utilize the system with greater frequency than once every 25 days! Even at a reasonable infrequent once every 5 days returns 600MM USD to the Association.

 

As stated, the Libra members will also generate revenue from the interest on the fiat held in reserve to cover the outstanding Libra. Here is how this works:

  • you buy Libra and that Libra is minted for you;
  • the money you used to buy the Libra is held to cover the cash out of that Libra;
  • when Libra is cashed out (turned back into fiat) the Libra is burned (deleted).

As long as Libra is being passed around from user to user, the fiat used to purchase  Libra is earning interest for the Libra members.  The potential is enormous. If 2.1B users have 5 USD of Libra on hand at all times throughout the year (what I think is a conservative estimate), then based on the Fed’s overnight rate, the Association could earn an additional 250MM USD over one year. You could do worse.

 

Consider This

 

When your money is in the bank, the bank pays interest to you. They also charge transaction fees which are taken on by the merchant but often reflected in the cost of goods. This means the increased cost in goods due to credit card and debit fees is built into most goods from merchants, so even if you pay by plastic, cash, digital, or libra you are still taking on the increased cost. So yes, Libra brings lower transaction fees (which won’t necessarily mean lower cost of goods) for the digital elite but Libra member companies keep all the interest on your money.  It should be noted that the Libra transaction fee will be far lower than services like Venmo which currently is 3% for credit card payment and $0.25 to transfer from Venmo to bank.

 

 

So far, we have covered two earning events, interest and transaction fees. What will be the long-term effects on these? What happens when traditional banks take large losses in these areas as Libra adoption rises? Don’t get me wrong, I am not a fan of big banks, but I am a fan of people having jobs. Banks will need to close more locations, raise transaction fees, and adjust the terms of interest given. Libra could very well end up costing people and countries a lot of money in the long run. Will it cost jobs? Most likely many jobs will be lost. Will it create jobs? Very few.

 

At Whom is Libra Really Targeted?

 

Most of the materials like to tout how Libra will be a boon for the unbanked. But in reality, this is mostly a convenience service for the Uber generation, and maybe a cheap way to move large sums of money for large corporations and wealthy individuals.

 

Who are the unbanked? This term seems to have two different meanings depending on if you are discussing developed or underdeveloped nations. "Unbanked" is a slang term for adults who do not use banks or banking institutions in any capacity. The US based unbanked generally pay for things in cash or by money orders. They also typically do not have any other type of professional money-related services. In the US, they often take advantage of alternative financial services, such as check-cashing and payday lending, when available to them. There is also a significant number of individuals that choose this to hide illegal monies.

 

The numbers of unbanked are significantly higher in underdeveloped nations. The Global Findex shows 3/4 of the world’s poor do not have bank accounts. And the use of mobile micro payments systems is quite high in places like sub-Saharan Africa where the Internet penetration is only about 36%, translating to about 204 million users. There are many villages where one mobile phone is used to serve many people.

 

Libra says that unbanked people will be able to “go to the corner store” and turn cash into Libra. There are problems with this model. In underdeveloped nations the corner store does not exist, and there is no infrastructure in the far reaches of sub-Saharan Africa to support the model. In under developed nations this becomes a last mile (or hundred miles) issue.

 

Even just looking at developed nations there should be questions on how this will work, e.g., what will the point of exchange, the corner store, charge to conduct these transactions? They will need to have some method of turning cash into Libra in a secure way so that both parties are made whole. The trouble is on the side where the cash is submitted, where the Libra recipient would want their Libra right away, so how does Calibra verify that cash was truly received? The opportunity for fraud when these transactions are done outside a financial institution is large.  I suppose they can start putting up kiosks but that would just further centralize Libra.

 

Your Data, Their Gain

 

Let’s talk about the security of your payment data. It has been stated that Calibra was created to assure that the data of your Libra transactions is kept separate from the data that is collected about you from Facebook services. This is because you will be able to use Libra through Facebook Messenger and WhatsApp. There will also be a crypto wallet available from Calibra. I am sure that most transactions will be via the Facebook services as they become more deeply integrated with services where you will spend your Libra, e.g., Uber, Lyft, and Amazon just to name a few. The assurance that your transaction will be secure from data collection (by the way this does not mean anonymous) pertains to the last part of the transaction itself, meaning the data of the transfer of funds only. All the data about shopping or connecting to a service all the way up until the transaction is all collectable including that you chose to use Libra. This data related to your shopping and service consumption across multiple vendors is incredibly valuable. I would say it is the crown jewel of the whole Libra space. The users will get nothing in return for this data: they won’t get rewarded with discounts, Libra, or cash. But the company collecting this data will drive huge market share and revenues from it. I am guessing that even when the California Consumer Privacy Act (the CCPA) goes live in January that this will be an opt-in service in order to use the convenience of Libra. 

 

In the End…

 

The association earns the transaction fees, interest on users’ money, and very valuable data. The majority of the users, the digitally connected, receive convenience. It is an old story that needs to be flipped.

 

 

https://www.internetworldstats.com/stats1.htm

http://www.worldbank.org/en/news/infographic/2012/04/19/who-are-the-unbanked

https://www.investopedia.com/terms/u/unbanked.asp

https://techcrunch.com/2019/06/18/facebook-libra/

https://libra.org/en-US/

https://calibra.com/

CYDigital's insight:

A review/opinion piece regarding Libra, from our CTO and Co-Founder.

 

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

more...
No comment yet.
Scooped by CYDigital
Scoop.it!

Goodbye Chrome: Google's Web Browser has Become Spy Software - WaPo

Goodbye Chrome: Google's Web Browser has Become Spy Software - WaPo | The CYDigital Blog | Scoop.it
My tests of Chrome vs. Firefox unearthed a personal data caper of absurd proportions. In a week of Web surfing on my desktop, I discovered 11,189 requests for tracker “cookies” that Chrome would have ushered right onto my computer but were automatically blocked by Firefox. These little files are the hooks that data firms, including Google itself, use to follow what websites you visit so they can build profiles of your interests, income and personality.

Chrome welcomed trackers even at websites you would think would be private. I watched Aetna and the Federal Student Aid website set cookies for Facebook and Google. They surreptitiously told the data giants every time I pulled up the insurance and loan service’s log-in pages.

And that’s not the half of it.

Look in the upper right corner of your Chrome browser. See a picture or a name in the circle? If so, you’re logged in to the browser, and Google might be tapping into your Web activity to target ads. Don’t recall signing in? I didn’t, either. Chrome recently started doing that automatically when you use Gmail.
CYDigital's insight:

The current legislative drive across the globe is justified.

 

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

more...
No comment yet.
Scooped by CYDigital
Scoop.it!

Toward a New Model of Data Ownership - IoT For All

Toward a New Model of Data Ownership - IoT For All | The CYDigital Blog | Scoop.it
An alternative to this top-down model by and for large platforms is nonetheless possible. Tokenization—the process of replacing and valuing data with a secured identification symbol—offers such a perspective. If tokens were to be backed by personal data and decentralized into a public blockchain, a new, bottom-up, market mechanism could emerge.

Cryptocurrencies might be a channel through which individuals value data. Large platforms needing to access and crawl data, such as Facebook or Google, would purchase the token corresponding to personal data directly to their miners (their users) in a secure way. In turn, the aggregation of tokens sold by individuals and purchased by firms would generate a new market, thereby establishing a natural valuation of available tokens.

Such a mechanism offers interesting perspectives as users would easily track their personal data value but also actively engage in the data market over which they would be able to share directly the growing benefits.
CYDigital's insight:

I sense a movement at which CYDigital is on the front end.

 

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

more...
No comment yet.
Scooped by CYDigital
Scoop.it!

Gov Gavin Newsom Suggests Big Tech Should Pay People Cash For Monetizing Personal Data | The Daily Caller

Gov Gavin Newsom Suggests Big Tech Should Pay People Cash For Monetizing Personal Data | The Daily Caller | The CYDigital Blog | Scoop.it
California Gov. Gavin Newsom suggested Sunday evening that tech companies should pay California residents for money they make off selling their data.

“Your data is being monetized every single nanosecond. And, to the extent it’s been monetized and it’s yours, I think in some way shape or form you should be rewarded,” Newsom, a Democrat, said during an interview on HBO. He floated the idea in May during his first State of the State speech as governor.

It would conceivably serve two purposes: help fill California’s yawning wage gap and reward people for forking over their data to big tech
CYDigital's insight:

Gov. Newsom is spot-on! This needs to be comprehensive with a tangible means for consumers to be compensated.

 

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

more...
No comment yet.
Scooped by CYDigital
Scoop.it!

Sens. Warner, Hawley Team on Social Media Data Monetization Dashboard - B+C

Sens. Warner, Hawley Team on Social Media Data Monetization Dashboard - B+C | The CYDigital Blog | Scoop.it
Sens. Mark Warner (D-Va.) and Josh Hawley (R-Mo.) have teamed up to introduce a bill that would require social media platforms and other "data harvesting companies" to provide information to financial regulators and consumers on "exactly" what data they are collecting from consumers and how it is being monetized, and charge the Securities and Exchange Commission to come up with a method for calculating data value.

The social media revolution, driven by companies like Facebook and Google, relies on monetizing that data to keep the services free, at least at not charge. Though many, including the senators, point out that the price is the harvesting of that data, which they say is why they have introduced the Designing Accounting Safeguards to Help Broaden Oversight And Regulations on Data (DASHBOARD) Act.
CYDigital's insight:

This bill does NOT address the issue of consumer compensation for use of generated data. And Senator Kennedy's (R-LA) bill doesn't address the value or mechanics for compensation (https://www.kennedy.senate.gov/public/2019/3/sen-john-kennedy-r-la-introduces-social-media-data-privacy-legislation). The only initiative that addresses consumer compensation for data holistically is Gov. Newsome's proposed Data Dividends concept, which will be the model moving forward for all states.

 

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

more...
No comment yet.
Scooped by CYDigital
Scoop.it!

How privacy could breathe new life into personalisation - ComputerWeekly.com

David Snocken, director of data and strategy at Internet marketing and advertising firm Clicksco, says: “In Europe, the impact of getting GDPR wrong is pretty hefty so organisations are having to take it seriously. That provides a push for industry to change, but there’s a pull as well – the benefits that come from better-quality personalisation.

“Good quality personalisation shouldn’t be intrusive – it should be a seamless experience from the consumer’s point of view, based on a detailed knowledge of where they are in the buying process,” says Snocken. “Using high-quality data on consumers – with their consent – in order to deliver a better experience is ultimately where the industry needs to move to.”
CYDigital's insight:

Bingo! This is EXACTLY what CYDigital is doing! Data privacy legislation is not an obstacle, but a HUGE opportunity for Marketers to conduct personalization in the right manner! It is the perfect manifestation of Seth Godin's permission-based marketing.

 

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

more...
No comment yet.
Scooped by CYDigital
Scoop.it!

Why data ownership is the wrong approach to protecting privacy - Brookings

Why data ownership is the wrong approach to protecting privacy - Brookings | The CYDigital Blog | Scoop.it
The trouble is, it’s not your data; it’s not their data either.  Treating data like it is property fails to recognize either the value that varieties of personal information serve or the abiding interest that individuals have in their personal information even if they choose to “sell” it. Data is not a commodity. It is information. Any system of information rights—whether patents, copyrights, and other intellectual property, or privacy rights—presents some tension with strong interest in the free flow of information that is reflected by the First Amendment. Our personal information is in demand precisely because it has value to others and to society across a myriad of uses.

Treating personal information as property to be licensed or sold may induce people to trade away their privacy rights for very little value while injecting enormous friction into free flow of information. The better way to strengthen privacy is to ensure that individual privacy interests are respected as personal information flows to desirable uses, not to reduce personal data to a commodity.
CYDigital's insight:

Here's the issue with this retort from Brookings: once that data (or information) is used by a third party for profit, then there is a solid argument for profit sharing between the party that generated the information and the party that executed on the mechanics to monetize that information. Without one, the other doesn't happen.

 

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

more...
No comment yet.
Scooped by CYDigital
Scoop.it!

Data is Money – Don’t Waste it - Fourth Source

Data is Money – Don’t Waste it - Fourth Source | The CYDigital Blog | Scoop.it
Without the right strategy or technology, you simply won’t be able to analyse all the data available to you. Much of it will go to waste, creating a pool of “data exhaust”. Remarkably, studies show that most companies are hoarding swimming pools of discarded data. A report by Forrester concluded that businesses do not analyse between 60 and 70 percent of the data they possess, while an unrelated 2018 survey of digital marketers found that 28% of respondents had no idea there was such a high level of waste. To bring these facts home, consider that in 2019, marketers are expected to spend $19.2BN on additional third-party audience data (plus the technology that manages, processes and analyses that data). Therefore, the amount marketers spend on third-party data and tech infrastructure increases by 17.5% year-over-year.

CYDigital's insight:

There are two converging forces emerging today: government legislation to protect data privacy, and a burgeoning desire for business to leverage data creation. The answer is simple: provides consumers with the means to capture and own their data.

 

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

more...
No comment yet.
Scooped by CYDigital
Scoop.it!

Facebook’s Libra Is a License to Print Money - WSJ

Facebook’s Libra Is a License to Print Money - WSJ | The CYDigital Blog | Scoop.it
Buy Facebook’s Libra and you are literally giving the social media giant a license to print money, in the form of its new cryptocurrency. A bunch of big companies have agreed to pony up $10 million each to take part, and it is easy to see why: On some reasonable-sounding assumptions about its takeup, it could be insanely profitable in real money, too.

CYDigital's insight:

Q: will shareholders receive an allocation of Libra as a dividend? Regardless, what we're watching is the normalization of cryptocurrency.

 

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

more...
No comment yet.
Scooped by CYDigital
Scoop.it!

Banks Are Increasingly Trying To Monetize Data - PYMNTS

Banks Are Increasingly Trying To Monetize Data - PYMNTS | The CYDigital Blog | Scoop.it
Banks are increasingly looking for ways to monetize the large troves of data they hold on customers, be it with credit card sales or offering discounts on a customers’ special interest, like food or fashion, Reuters reported.

To help their bottom lines, banks like JPMorgan, Barclays and HSBC are taking a page out of the Google, Facebook or Twitter playbook with advanced data analysis. Banks are using the data to help with stock predictions, marketing campaigns and to fuel artificial intelligence (AI) tools for credit decisions. “If there was a gold mine people would probably have found it by now,” said Benjamin Ensor, an analyst. “But if you can generate some marginal incremental revenue at relatively little cost why wouldn’t you do that?”
CYDigital's insight:

U.S. State and Federal legislation may nip this in the bud.

 

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

more...
No comment yet.
Scooped by CYDigital
Scoop.it!

Data Privacy and Blockchain in the Age of IoT - insideBIGDATA

Data Privacy and Blockchain in the Age of IoT - insideBIGDATA | The CYDigital Blog | Scoop.it
Blockchain technology may provide a secure medical record storage and disposal solution, but healthcare facilities should be aware of the implications that accompany a healthcare blockchain solution. Healthcare facilities should undergo a HIPAA risk analysis prior to embarking on a blockchain project in order to find and address any vulnerabilities that may be present.

Once that is accomplished, it’s in the best interest of businesses and healthcare organizations to make the switch to blockchain solutions. Blockchain is often referred to as the future of business, and one of the strongest benefits of the technology is also one of its pillars: immutability. When data is entered into the blockchain, it cannot be altered without invalidating all the information that comes after. This keeps data secure and ensures that it is reliable and accurate.
CYDigital's insight:

HIPAA-related, but applicable across the board.

 

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

more...
No comment yet.
Scooped by CYDigital
Scoop.it!

June 2019 Privacy Misleader Board - Privacy Monitor

June 2019 Privacy Misleader Board - Privacy Monitor | The CYDigital Blog | Scoop.it
The worst data privacy clauses our attorneys found in June 2019.
CYDigital's insight:

Privacy Monitor publishes this once a month, and it's based on the privacy Ts & Cs of major online entities. Revealing, and a benchmark to use so as to properly align your privacy guidelines.

 

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

more...
No comment yet.
Scooped by CYDigital
Scoop.it!

The true value of digital privacy: are consumers selling themselves short? | Kaspersky official blog

The true value of digital privacy: are consumers selling themselves short? | Kaspersky official blog | The CYDigital Blog | Scoop.it
Introduction Sharing personal and valuable information online has become essential in modern life. A decade ago, the majority of organizations were still prepared to interact with their customers…
CYDigital's insight:

In a word: yes!

 

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

more...
No comment yet.
Scooped by CYDigital
Scoop.it!

'Tinder', 'Match.com', And Other Dating Apps Are Collecting Data From Your Chat History — Z6 Mag

'Tinder', 'Match.com', And Other Dating Apps Are Collecting Data From Your Chat History — Z6 Mag | The CYDigital Blog | Scoop.it
Dating apps have been growing in popularity, especially among millennials, but it appears that with a new study, dating apps aren’t just building new relationships; they’re also sneakily collecting data from users and selling them to third parties.

A ProPrivacy.com survey revealed that more than 70% of users of the popular dating website, Match.com, are vulnerable to data mining. But the researchers said that, amidst the risks that come with signing on to dating apps and websites, users still do it because they are unaware of how much data these apps are collecting from them and how they use it.
CYDigital's insight:

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

more...
No comment yet.
Scooped by CYDigital
Scoop.it!

Loyalty programs cost you your personal data — are the rewards worth it? TNW

Loyalty programs cost you your personal data — are the rewards worth it? TNW | The CYDigital Blog | Scoop.it
Thankfully, people are becoming aware of some of the dangers associated with handing over their data. According to a survey conducted by The Harris Poll on behalf of Wilbur earlier this April, 76 percent of Americans are more likely to join a program which collects only their name and phone number.

An almost equal number (71 percent) said they would be less likely to join a rewards program which collects personal information, including address, account information, and other sensitive data.

These data points highlight the growing concern customers have in general about sharing personal information.
CYDigital's insight:

It's probably the worst value offered for data.

 

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

more...
No comment yet.
Scooped by CYDigital
Scoop.it!

An alternative way of seeing data monetization - bobsguide.com

An alternative way of seeing data monetization - bobsguide.com | The CYDigital Blog | Scoop.it
Data exhaust refers to the excess data that is generated as a byproduct of a company’s operations. Simply put, it’s all the data the firm might not know what to do with, or might not think is relevant to its core business. This amount is much bigger than you think - Forrester reported that on average, between 60% to 73% of all data within an enterprise goes unused.

These are the two primary paths to data monetization that companies can choose to take, though they are not mutually exclusive. In fact, both paths can intersect and one can lead you down the other:

1) Getting new business insights - This is an internally focused path that may not directly lead to money on the table. But it’s about leveraging data to improve operations or the customer experience. In turn, this could lead to higher profitability or greater efficiencies that result in reduced costs.

Alternative data can yield insights that we may have otherwise not considered. But it’s easier said than done because, as Forbes reports, 87% of executives are still not confident they’re able to leverage all customer data.

2) “Externally” monetize data - These days, the mere mention of “selling data” conjures negative reactions. But there are ways of monetizing non-personal data that is aggregated and anonymized. This can be valuable to people you may not be thinking of in ways you might not have imagined.

Opportunities may exist in markets that are new and unfamiliar to the data owner. For instance, firms can open up new revenue streams by selling their data to economists, analysts, investors and any other parties that are seeking to gain new and unique insights.
CYDigital's insight:

It's not, and never has been, just about advertising. Data monetization covers an incredibly wide array of functions and desires.

 

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

more...
No comment yet.
Scooped by CYDigital
Scoop.it!

We need to change who can analyse our data – as well as who owns it - openDemocracy

We need to change who can analyse our data – as well as who owns it - openDemocracy | The CYDigital Blog | Scoop.it
A new think tank, Common Wealth, has only recently launched but is already beginning to set a new agenda for the future of ownership. In a long-read piece published to accompany the launch of the new venture, Common Wealth founder Mathew Lawrence sets out why ownership matters, and envisions its part in an ambitious reimagined future.

Within this broader agenda, Lawrence outlines six areas in which Common Wealth will seek to redefine ownership. One particularly vital set of proposals revolves around the building of a new ‘digital commons’. In short, as I understand it, the aim of the digital commons is to radically realign the ownership of the technological systems and platforms that are shaping our lives. The agenda is yet to be fully outlined, but it aims to move the digital realm from private to public ownership. In particular, it seeks to reclaim the ownership of the data that is produced as a by-product of our use of these media. It would then place these data into a new type of commons. This would guide power and profit towards more collective and progressive outcomes. At the same time, the creation of the digital commons would help to alleviate the negative, harmful and damaging uses of these technologies and curb attempts to target and manipulate us using these systems.
CYDigital's insight:

Don't bother: CYDigital has cracked the code on private ownership.

 

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

more...
No comment yet.
Scooped by CYDigital
Scoop.it!

Facebook wants to pay you in exchange for your personal data - TechTrendsKE

Facebook wants to pay you in exchange for your personal data - TechTrendsKE | The CYDigital Blog | Scoop.it
To know if you’re invited to the program you’ll definitely see Facebook ads about the program which you can then sign up and wait for the approval. The rewards will be paid on a monthly basis but the amount of the reward hasn’t been revealed yet.

Whether you’ll decide to join or not it’s all about you. But do you think some good pay is worth your private activities on your phone?

The program going by the name “Study” will only be available in India and US markets. Possibly Facebook will rollout the program in other parts too since Study is just one of the many “Market research programs” the company will launch.
CYDigital's insight:

Watch for it.

 

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

more...
No comment yet.
Scooped by CYDigital
Scoop.it!

Facebook's Project Libra: What It Means for Advertising - Fortune

Facebook's Project Libra: What It Means for Advertising - Fortune | The CYDigital Blog | Scoop.it
For starters, Facebook will be able to use Calibra, its new digital wallet, to compete with the likes of PayPal’s digital payment app Venmo, while also offering cheaper cross-border payments. Facebook’s new currency, called Libra, could also help the company save on transaction costs. But if you had to guess Facebook’s main motive, the best answer is that Project Libra will help the social network do what it does best: collect data and sell advertising.

Specifically, the new currency gives Facebook an opportunity to bolt a payment service on top of Instagram and WhatsApp, and let customers make instant purchases in response to ads they see on those platforms.

Marketing and e-commerce executives tell Fortune this will be a boon for Facebook and its advertisers. According to Will Luttrell, CEO of payments startup Amino, the digital currency will let the company better compete with Amazon’s growing ad business. He predicts that Facebook will have unprecedented insight into when a user makes a purchase in response to an ad—delivering specific “return on investment” metrics that marketers crave.
CYDigital's insight:

This is ALL ABOUT DATA COLLECTION AND CONTROL. Make no mistake: Libra is the key to understand everything the FB user is doing, tying all Calibra activity into one big butt profile for each of us.

 

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

more...
No comment yet.
Scooped by CYDigital
Scoop.it!

As Facebook’s Libra Provokes A Slew of Questions, An Expert Struggles With the Coin’s ‘Justification’ –

Tim Sloane, who follows digital currencies as vice president for payments innovation at Mercator Advisory Group, Maynard Mass, adds that Facebook’s direction of the project, which includes involvement by Mastercard Inc., PayPal Holdings Inc., Stripe Inc., Visa Inc., and at least eight other companies, could prove to be a liability rather than an asset. While the huge social-networking company brings a base of 2.4 billion users worldwide, it has attracted negative attention in recent months for questionable privacy practices. “They also have an extraordinary level of regulatory scrutiny that makes the regulatory risk much worse,” Sloane notes in an email message.

The Libra consortium’s white paper this week should detail how its currency will work when it launches next year. Libra is expected to be a so-called stablecoin tied to a basket of fiat currencies, which might make it more suitable for online and physical commerce with merchants. Cryptocurrencies like Bitcoin have been criticized for exaggerated swings in value that make them less appealing to merchants.
CYDigital's insight:

The issues are numerous: greater loss of privacy, a globalization of a currency, a consortium of monoliths controlling all the data, etc. But Libra will bring cryptocurrency and the digital wallet to the masses. Q: what will the SEC do to stop this train?

 

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

more...
No comment yet.
Scooped by CYDigital
Scoop.it!

Facebook's cryptocurrency Libra unveiled - Fox Business

Facebook's cryptocurrency Libra unveiled - Fox Business | The CYDigital Blog | Scoop.it
Facebook Opens a New Window.  is rolling out a new cryptocurrency Opens a New Window. platform that could provide the embattled social media giant with a new revenue stream of historic proportions as it contends with a possible federal antitrust probe and continued scrutiny over its data privacy practices.

Mark Zuckerberg’s company announced on Tuesday the creation of Calibra, a subsidiary that will oversee Facebook's interests in Libra, including a digital wallet for the new cryptocurrency. Rather than exercise direct control over Libra, Facebook will partner with investors such as Visa, PayPal and Uber as members of the Libra Association, an independent entity that will manage the cryptocurrency.

The digital wallet will be available in Messenger, WhatsApp and as a standalone app. It is expected to launch in 2020, according to a company statement.
CYDigital's insight:
  1. Anyone remember when the Hunt brothers tried to corner the silver market ostensibly to create a currency? Didn't end well.
  2. Libra will deliver digital wallets to the masses.

 

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

more...
No comment yet.
Scooped by CYDigital
Scoop.it!

How Can Blockchain Help Secure IoT Data? - ReadWrite

How Can Blockchain Help Secure IoT Data? - ReadWrite | The CYDigital Blog | Scoop.it

The blockchain is a system that stores data differently.

  • The data in an IoT get stored in the cloud storage. Internet connects all the devices.
  • The supply of IoT devices is increasing exponentially.
  • Hackers can enter the system through any device.
  • The episode of service disruption in 2016 is an example of a security breach.
  • IoT generates a lot of information, including personal data.
  • Attackers can steal information for selfish gains.
  • Hackers can steal other important information like passwords and bank details.
  • Criminals can also use surveillance cameras to see the full plan of your house or office.
  • There is a need to protect the data from such attacks.

 

How Can Blockchain Help In Securing IoT?
The blockchain is a decentralized system which can help in solving the problems of scalability, reliability, and privacy in IoT. The blockchain can enable tracking of the billions of devices. Blockchain technology can assist in processing the transactions and coordination between different tools in the system. The decentralized nature of the blockchain system will help in distributing data and eliminate attacks at single points.

CYDigital's insight:

A good primer on the subject. It's a quick read.

 

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

more...
No comment yet.
Scooped by CYDigital
Scoop.it!

The Evolution of Identity

The Evolution of Identity | The CYDigital Blog | Scoop.it
The true power behind these innovative approaches is the behind-the-scenes nature of the authentication process. Many of these identity verification techniques work without the knowledge of the individual. For example, a person purchasing a new laptop via their mobile phone may need to use their fingerprint to approve the purchase, but there are secondary and tertiary checks in the background. Is the individual holding the phone in a typical manner? Is the device connected to an often-used IP address? Is the transaction part of the individual's normal purchasing behavior? Is the personal information provided or captured being used consistently and in a low-risk fashion across time and disparate applications?

Separately these techniques can help minimize fraud. But together, the power of identity management and fraud prevention increases significantly. Businesses and agencies can be more confident during onboarding and ongoing authentication processes while ensuring a higher-quality customer experience for the vast majority of interactions which are legitimate.
CYDigital's insight:

Now take these variables, and bundle them into an identity token, and give ownership to the consumer.

 

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

more...
No comment yet.
Scooped by CYDigital
Scoop.it!

Blockstack Ponders STO - Stacks Tokens - Securities.io

Blockstack Ponders STO - Stacks Tokens - Securities.io | The CYDigital Blog | Scoop.it
The decentralized computing network and app ecosystem provider, Blockstack announced plans to conduct market analysis regarding a potential STO in the coming weeks. According to company documents, the firm seeks to raise $50 million to further development of the Stacks blockchain. If successful, Blockstack would become the first SEC approved Reg A+ STO in the market.

On May 31st, Blockstack Token LLC officially submitted Form 1-A to the SEC. In the document, the company states its intention to host a blockchain-based crowdfunding campaign utilizing a “Deferred Delivery Agreement.” Basically, investors submit funds and receive their shares at a later date. In this scenario, investors receive tokenized shares in the form of Stacks tokens, for their participation in the STO.
CYDigital's insight:

Deferred delivery for an STO would probably rely upon a genesis event. If true, then warrants for tokens would work as well. Ask counsel!

 

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

more...
No comment yet.
Scooped by CYDigital
Scoop.it!

Chrome-derived browsers threaten to fork from Google, refuse to eliminate ad-blocker features / Boing Boing

Chrome-derived browsers threaten to fork from Google, refuse to eliminate ad-blocker features / Boing Boing | The CYDigital Blog | Scoop.it
Google's decision to restrict access to the Chrome API needed for full ad-blocking to paid enterprise customers was especially worrisome because Chrome's free/open derivative, Chromium, is the basis for many other browsers, including Microsoft's Edge, as well as Opera and the privacy-focused Brave.

Now, the other shoe has dropped: in statements to Zdnet's Catalin Cimpanu, representatives from Opera, Brave and Vivaldi said that they would not implement the change in their browsers, allowing their users to continue to block ads.

Microsoft refused to comment on the matter.

Forking Chromium is quite a drastic step, one that puts Google's control over the browser in jeopardy. The question is whether Google will yank any of the many levers it has at its disposal to override its open-source licensing to bring these other companies into line, or whether it is worried enough about antitrust that it sits this one out.
CYDigital's insight:

We're fairly certain Google will not blink. So to reiterate a point: it is a dangerous proposition to build a solution based on a monolith's infrastructure.

 

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

more...
No comment yet.