Personal Data and its value in the marketplace.

There is no such thing as a free lunch.

Free signups are not free but “free” trading of “information and communication” in exchange for “personal data”.

Personal is a data type which generates its “value” every time it is processed through automated decision-making systems.

Research suggests that consumers are becoming more aware about the value of their personal data; challenge is quantifying the value of personal data and identifying a buyer or buyers in the marketplace.

The recent personal data protection legislation EU-GDPR empowers the consumers to be aware about their personal data protection rights not just in the EU but in other countries too; after all data doesn’t understand borders so do the internet.

Is there a data marketplace which exists?

Research suggests blockchain-based, decentralised personal data marketplace ecosystem has started evolving in the United states and the technology can be utilised by the consumers to design their data profile and connect data sources ; i.e. social media, maps and other utility apps in exchange for a profit. The operating models and frameworks are still in their infancy stage, but it is surely the first step to supporting consumers’ ability to monetise on their personal data with direct buying offers from data buyer.

#Privacy in the future will become obsolete.