When you give your data to companies, what do you expect in return? The answer today, for many consumers, is not a lot. They’ll willingly accept terms and conditions that allow a company to make money with their data, if that gives them ‘free’ access to a fun app or a useful platform. But when will that change?
A few high-profile ‘scandals’ have made some consumers think again about whether they want to share anything other than basic personal data, largely due to privacy worries. What if that reluctance developed into a deeper shift in attitudes?
What happens when consumers demand more value from companies that monetize their data?
It could be an opportunity. Companies could respond to this shift in consumer sentiment by offering better services and bespoke data use terms, all supported by greater transparency between themselves and their customers.
Blockchain technology could provide a secure platform for the monetization of an individual’s most personal attitudinal and behavioral data. How much would your bank – or your grocer or physician – pay to understand the best way to activate and maintain you as a customer?