One solution for addressing data privacy issues that’s getting a lot of attention, is the personal data marketplace powered by blockchain technology. But is this data marketplace really the right direction for data privacy?
Data Privacy
Technological development has always outpaced privacy concerns, but never more so than in the past decade. Collection and centralization of personally identifiable information (PII), tracking of movements and digital surveillance are all at unprecedented levels. Regulations and laws are only just beginning to catch up to the ability of both governments and private entities to deploy these capabilities.
What exactly is there to worry about? The mass collection and centralization of data by giant multinationals such as Facebook and Google is as good of a place to start as any. Two decades of vacuuming up the personal data of users of various online services has created the most impressive marketing capabilities in history, but these profiles have astounding potential for damage when they are used the wrong way or fall into the wrong hands.
Unauthorized information that is captured in data breaches tends to find its way to massive “combo lists” that are sold and traded on the dark web. Social security numbers are added from this breach, home addresses and phone numbers from that one, personal health information from yet another. Soon, a frighteningly complete profile of millions of individuals is available to anyone willing to pay the asking price.
These are just the established data privacy issues. The emerging ones are even worse. High-quality facial recognition technology is just beginning to roll out across the public places of some countries. Artificial intelligence is not only making mass facial recognition possible, but magnifies the power and reach of any application that involves capturing and sorting information: scanning pictures, analyzing speech, sifting through text and location data. This threatens to not only shatter anonymity and privacy, but allow for highly advanced impersonation and take the concept of “identity theft” to new levels.
Some businesses chafe at the trouble and added expense of new and emerging data privacy regulations, but they are vital to both protecting rights and privacy and instilling confidence in end users. Customers want to be able to submit their payment information without worry about data breaches and identity theft, use services without wondering what is being done with their personal information and use devices without fear of surveillance or having location data tracked. The need for meaningful safeguards only grows greater as technological capabilities increase.
As we approach the death of the third-party cookie, brands need to prepare themselves for the seismic change in personalization and digital marketing to ensure that they have are delivering the right message at the right time to customers.
Consumers want to be targeted with ads tailored to their needs and desires but are also more aware of their own privacy and the misuse of personal data. Businesses need to understand how to balance personalization and privacy by implementing strategies that allow for secure multi-party analytics.
Personalized marketing has been widely embraced by marketers. However, the trend is getting a privacy blowback as 91% of consumers believed that ads know too much about them.
Research shows most Americans not only becoming concerned and confused but also feeling a lack of control over personal data collection and data privacy in the modern digital economy.
As the Philippines Data Privacy Act registration deadline draws near, to be or not to be a data protection officer (DPO) is on many company officer’s mind.
Face search engines that trawl the internet are not a new concept, but this apparent level of accuracy (backed by an advanced AI algorithm) has not previously been made available to the general public.
The government of Singapore is rolling out biometric facial verification technology as part of its national digital ID system, something that has privacy advocates concerned.
Singapore’s early rollout of contact tracing included one of the world’s first mobile apps for this purpose, TraceTogether. Voluntary public uptake based on trust in government was key, but that trust may be shaken.
Facebook is once again coming under public scrutiny after a comprehensive report from Privacy International showed how many popular Android apps are sharing personal user data with Facebook without user consent.










