features articles on the business of tech news, analysis of new tech companies, apps, products, emerging internet trends, culture, and marketing topics. Our CMO Paul Neto recently contributed his thoughts on personal data and the blockchain to the site, which hosts about eight million visitors per month, in his article called "Blockchain is the best way to truly benefit from our own data."
In the article, Paul writes about personal data and how it is currently being used, specifically by businesses that are mining it to make important decisions. "This ostensibly makes your data much more valuable than oil ever was, but how can you take control?" He contends that blockchain is one good way that consumers can start to take ownership of their own data.
Just what is this data anyway? Everything we do online or digitally is included - both those things we choose to share and those things that we haven't explicitly allowed. "How we click on pages, how we 'fumble' with our cell phones, the way we navigate a brick and mortar store: everything feeds into the giant data machine."
It's only a matter of time before demands for accountability and transparency that are permeating our social, economic and digital lives start to affect our views on data usage. Paul writes: "We are already becoming more savvy to our data usage, with sweeping regulations like GDPR upping the game, and will begin to ask for insights into how data is being used...Our data is worth something — and we need to get paid."
Blockchain provides a basis for taking control, giving many benefits including:
- Providing layer of transparency and accountability for data ownership and transactions.
- Supplying a public ledger of data rights and transactions, ensuring that the appropriate individual is receiving credit for his or her data
- Minimizing the influence of data middlemen in any consumer data transaction while putting the data back in the hands of the consumer
He concludes: "As we all begin to realize the value of our information, understand that it is being collected (with and without explicit consent) and seek to gain control over its use, solutions must come to the forefront. Blockchain provides a foundation to start implementing change, and stay ahead of the data-driven curve."
For the complete article, visit: https://thenextweb.com/podium/2019/05/04/blockchain-is-the-best-way-to-truly-benefit-from-our-own-data/