THERE IS NO SUCH THING AS A FREE LUNCH IN THE DIGITAL ECONOMY

An investigation into how can there be fair exchange between brands and consumers with regards to personal data.

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The commodification of digital identities is an arising reality in the information driven economy. Individual information of people represent financial worth in the information driven economy and are regularly viewed as a counter execution "free of charge" digital services. Simultaneously, people don't appear to be completely mindful of the money related worth of their own information and underestimate the monetary worth of their information in this data driven economy and to latently capitulate to the propertization of their digital personality. An exertion that can expand mindfulness and controllership of consumers on their very own data could be making them aware of the money related worth of their own information. Now there are many discrepancies that exist in terms of power in the digital economy hence it is important to look at how the exchange between brands and consumers can be made more equitable when it comes to consumer data.

 

Little study has been undertaken on the burgeoning topic of personal data selling and data tools, particularly personal data marketplaces that have the potential to make this exchange between brands and consumers with regards to consumer data more equitable. Because of the unique qualities of data as financial goods, in contrast to tangible product goods, such as the lack of recognized guidelines and market processes for pricing data commodities, data marketplaces have particular characteristics that distinguish them from others.