Web 3.0 was the incubator that gave rise to the influence economy, an economy whose currency is driven by individual action writ large and the tides of popular opinion are ones that companies are keen to surf. Yet the importance and sovereignty of our personal data is often overlooked, not only by organisations that aren’t utilising their data efficiently or companies that use it unscrupulously, but by individuals who don’t realise just how important their own data is.
In this brave new world, data is the product and individuals are the method of generation.
Large tech companies, that have made their businesses on the back of this data, have benefited from a largely unregulated landscape – and some have profited in ways that are often unethical and sometimes illegal. The rights of individuals to own and control how their data is used is marginalised or flat out ignored. Often, we don’t even know what our data is doing or how it is even doing it? I just made a joke about not getting a good night’s sleep on Facebook, and now I’m being cyber stalked by online mattress companies.
Governments and bureaucracies have struggled to keep up, and when they do, they often overextend, acting as a blunt force instrument. The GDPR is a good example of a profoundly important sentiment imperfectly executed – many online communities (commercial and non-commercial alike) have fled from EU managed environments or shut down all together in response to the GDPR, rather than risk an expensive violation of the law.
Protection is important but must be weighed against the liberty of individuals and the utility of their data, which they control. After all, the easiest way to protect yourself online is to unplug your modem.
This balance between security and empowerment is one that The Evolved Group has put at the heart of its development process. Our minimum standard as an ISO27001 provider is privacy and consent for data use. Our platform has been built from the ground up with GDPR Compliance in mind. We strive to provide our clients with the confidence that they can work with their data without risk.
Of course, this is an ever-changing landscape and requires constant vigilance to demonstrate best practice. The companies that will succeed in this information focused economy are the ones that understand that the relationship between individuals and organisations must be an open, two-way conversation, that considers the legal obligations and rights of all parties.
Plus I’m not buying that mattress. Stop asking.