Datacoup is Putting a Price Tag on One's Personal Data
Michael Baxter — February 22, 2014 — Tech
If someone had to put a price tag on one's personal data, what would that price tag be? Datacoup is here to figure that out as it is now giving customers the incentive to hand over their personal data, such as social media account information and debit purchases for monetary gain.
This sounds like one of the scariest things that a company can do on the Internet as privacy is a big thing in today's world. However, given the fact that companies data mine our information for free nowadays, the least we could do is know who's doing it and getting paid for it.
Datacoup gives control to the user, who chooses what data to sell and who the data goes to. After the data is sold, they receive a monthly payment depending on how much personal data was sold.
This sounds like one of the scariest things that a company can do on the Internet as privacy is a big thing in today's world. However, given the fact that companies data mine our information for free nowadays, the least we could do is know who's doing it and getting paid for it.
Datacoup gives control to the user, who chooses what data to sell and who the data goes to. After the data is sold, they receive a monthly payment depending on how much personal data was sold.
Trend Themes
1. Personal Data Monetization - Users are now able to monetize their personal data through platforms like Datacoup, creating a disruptive innovation opportunity for data privacy and digital marketing.
2. User-controlled Data Selling - The rise of user-controlled data selling enables individuals to have control over their data and choose who they sell it to, opening up possibilities for new business models and data-driven services.
3. Personal Data Economy - The emergence of a personal data economy, where individuals can actively participate in the value chain by selling their data, presents numerous disruptive innovation opportunities across industries such as finance, advertising, and market research.
Industry Implications
1. Finance - The finance industry can explore disruptive innovation opportunities by leveraging personal data monetization to enhance credit scoring models, risk assessment, and personalized financial services.
2. Advertising - The advertising industry can capitalize on user-controlled data selling to deliver more tailored and targeted advertisements, creating more meaningful connections with consumers and improving return on investment for advertisers.
3. Market Research - The market research industry can leverage the personal data economy to access a wider and more diverse range of consumer insights, enabling more accurate trend analysis and informed decision-making.
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