Data is the oil of the digital world. What if tech giants had to buy it from us?
*NOTE: Muuver Inc. is not a member of nor is associated with nor endorses the World Economic Forum (WEF) in any way.From WEF: We must shift how we view and treat data in order to better prepare for an increasingly data-saturated future. With the spread of blockchain technology and its integration into data-driven industries like healthcare and social media, we can gradually take back control of our data. We will be able to see which companies and entities have access to which portions of our online data (i.e. our online identity). We will be able to see how our data is being used and we will be able to respond accordingly, by allowing or restricting further access. We will have the option to request compensation in the form of access to services and money if a company wants to harvest, study and sell our information. At the end of the day, they’re making a fortune off it. As those capabilities arrive and we begin owning and monetizing our own data, we will need to redefine “data”. One way to imagine data is the determination of it as an asset class – just like oil and other commodities. This article is an exploration of what a world in which data is an asset class looks like. The decision on our hands will be whether or not to follow through.