Monday, July 26, 2010

Personal Information as Currency

Can you imagine if companies started to pay their customers for certain types of data. That is, data that was automatically collected on...say, product use/behavior, the individuals history or networks (sleeping, eating, activity patterns, etc..), and then customer could use that information to 'sell' to a company.

You could essentially turn automated data collection into a currency that is viable to use in the market place. This could have potential positive uses for individuals that currently have no ability/aspirations to make money (e.g. the homeless alcoholic could sell his data to the government in exchange for money which the homeless person could use for booze or shelter...likely booze)

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