What’s our worth, let’s calculate it.
In the data-driven world, We are commodities. Undoubtedly, this is the age of ‘data,’ where companies across the world have been frenetically collecting, archiving, distributing, selling and buying our data for various purposes. Overall, it enhances their productivity, profitability. In turn, as a ‘source of information’ how much we make. Virtually nothing. How much our personal data worth. It may be a few hundred dollars to a few thousand dollars. Everything depends upon our ‘profile completeness’ and our social status. Whether we walk or talk to someone; buy or sell something; take a vacation or traveling by airplane - every data is valuable in the data-driven digital age.
On the other hand, the data-accumalting monoliths like Google, Facebook also misusing our data. And that is clearly evident from the 'Facebook-Cambridge Analytica Data Scandal' where Facebook compromised millions of users' data.
Financial Times - Personal Data Calculator
There are several parameters used to calculate our data. The renowned ‘Financial Times’ published a data calculator, where we can calculate ‘how much our data is actually worth (Financial Times Calculator Link: https://ig.ft.com/how-much-is-your-personal-data-worth/
Going one-step ahead, a non-profit organization https://datum.org/
Created a calculator with logically convincing methodology. And their calculator can be accessed from
https://calc.datum.org/
Personal Data Calculator from Datum.org
Already lots of companies have been working for the platform to monetize our personal data. So, in the near future, we can easily ‘sell’ our data. The emergence of blockchain kind of distributed ledger medium is the perfect place to monetize our data.
By
Srini