Google “data as a currency,” and you’ll get back search results in the millions. “What if Web Users Could Sell Their Own Data?” asks a blogger for the New York Times.1 A story in Information Management highlights “Big Data Analytics: The Currency of the 21st Century Enterprise.”. You’ll find stories heralding big data as the new currency for science, stories on the personal data marketplace, and even stories on stolen data as a currency—not to mention prominent TED talks, World Economic Forum studies, and multiple books on the subject. The gist of the argument: Personal data has an economic value that can be bought, sold, and traded.
Remarkably, one area has gone largely unexplored: the role that government will—or should—play in establishing data as a currency. Given the problems governments face in maintaining stable monetary systems, many data enthusiasts would just as soon have government stay away from this emerging instrument of exchange.
Via The Learning Factor