{"id":659,"date":"2019-01-05T20:44:47","date_gmt":"2019-01-06T01:44:47","guid":{"rendered":"http:\/\/www.thecatalyst.com\/blog\/?p=659"},"modified":"2019-04-05T20:02:42","modified_gmt":"2019-04-06T00:02:42","slug":"is-payment-not-privacy-the-answer","status":"publish","type":"post","link":"https:\/\/www.thecatalyst.com\/blog\/is-payment-not-privacy-the-answer\/","title":{"rendered":"Is Payment Not Privacy The Answer?"},"content":{"rendered":"<p style=\"font-size: 1.3em; font-weight: bold;\"><em>\u201cThere\u2019s big money in your personal data\u2014for others. Why not you? It\u2019s your data, after all.<\/em><\/p>\n<p style=\"font-size: 1.3em;\"><em>If you were paid for the use of the digital data you generate\u2014that is, you shared directly in the benefits that draw corporations to this juicy financial frontier\u2014would privacy be an issue?\u201d<\/em><\/p>\n<p style=\"font-size: 1.2em; font-weight: bold;\">How would your clients or customers respond to this income-generating perspective on who benefits from the data they create through their social media interaction and digital transactions?<\/p>\n<p style=\"font-size: 1.3em;\">If your business or practice stresses a strong client-centric mission\u2014like \u201cour clients come first\u201d\u2014is it ethical to use client data to earn profit without respecting clients\u2019 role in its creation and sharing a \u201cpiece of the action\u201d with them? Their share could be income or reduction of service fees, interest rates, or other valued service factors.<\/p>\n<p style=\"font-size: 1.3em; font-weight: bold; margin-bottom: 0em;\">Sharing All But Profit<\/p>\n<p style=\"font-size: 1.2em; font-weight: bold; margin-bottom: 0em;\">The \u201ceveryone else does it\u201d argument for cutting data-creating clients out of sharing data-based profits may be wearing thin for these client users, especially as they bear the brunt of data-related risk:<\/p>\n<ul style=\"font-size: 1.2em;\">\n<li>Facebook (FB) has granted access or shared FB users\u2019 data with Amazon, Netflicks, and others, but <strong>what did FB users get out of this<\/strong> business exchange? FB users were not asked for their permission to allow FB to earn money or engage in business relationships like these with corporations and who knows who else. When social media corporations like FB insist they \u201cdo not sell but share\u201d user data, this still means they make money, but <strong>consumers do not and consumers may have their privacy\u00a0jeopardized in the process<\/strong>.<\/li>\n<li>The \u201cfree\u201d online features and services that initially dazzled users have become <strong>compromised and degraded by practices centered on corporate goals and profit<\/strong>, not value for data-generating users.<\/li>\n<li><strong>Efforts to manipulate users to spend more time on social media platforms<\/strong> are directed at increasing value to advertisers and at generating revenue, not at client goals. For instance, when user viewing drops, FB sends out intrusive updates designed to entice engagement.<\/li>\n<li><strong>Privacy breaches and identity theft are becoming the norm. <\/strong> Will the ease of online shopping and communicating become overshadowed by data vulnerability, hacker devastation, and lack of compensation for data violation?<\/li>\n<li>The big data bite comes from Artificial Intelligence (AI), which uses massive data banks of user information and digital activity to generate savings, efficiencies, revenue opportunities, share price increases, clout increases, and service provision <strong>for corporate benefit<\/strong>. Haven\u2019t users earned a piece of the action?<\/li>\n<li>Technology makes creating and tracking micro-transactions very doable. The degree of detail possible to collect and categorize data could make <strong>tracking each transaction in a shared-benefits arrangement straightforward<\/strong>. That\u2019s blockchain. This means that attributing a reasonable percentage to the user who created the date is practical. Repeat use of the data would create a stream of income for users. <strong>Will sharing become the new brand loyalty strategy?<\/strong><\/li>\n<\/ul>\n<p style=\"font-size: 1.2em;\"><em>For Clarity: Don\u2019t confuse this suggestion of payment with loyalty-reward-point programs which concentrate on gaining repeat business for the corporation\u2014a grocery store, credit card, airline\u2026. Consumers often pay higher prices and are limited to specific spending patterns to gain benefits\u2014not dollar-for-dollar by a long stretch. This involves consumers spending and then jumping through hoops to receive benefits with earned-reward points they must keep track of to manage expiry dates.<\/em><\/p>\n<p style=\"font-size: 1.3em; font-weight: bold; margin-bottom: 0em;\">New Client-Retention Frontier<\/p>\n<p style=\"font-size: 1.2em; font-weight: bold;\">Online users realize that the continuous treasure trove of data arises from every digital thing we do each day, each hour. It\u2019s making corporations richer and more powerful. Online users are only now understanding that all their data adds up to big money for others, not for them. Corporate spokespeople\u2014from FB\u2019s Zuckerberg on down\u2014talk about the importance of user privacy, but do not give privacy or respect for users priority over profiting from users\u2019 personal data\u2014considered the juicy corporate profit-center.<\/p>\n<p style=\"font-size: 1.2em;\">Privacy laws are emerging, but they offer too little advance protection for users. Penalties may be as ineffective as license-to-pollute fines levied against environmental violators. The 2018 EU General Data Protection Regulation (GDPR) [ https:\/\/eugdpr.org\/ ], California\u2019s 2020 privacy law, and emerging regulations are one approach to protecting privacy, but most, if not all,\u00a0 protection provided occurs after the fact: after sharing, breach, misuse\u2026.<\/p>\n<p style=\"font-size: 1.3em; font-weight: bold; margin-bottom: 0em;\"><em>Missed Opportunity?<\/em><\/p>\n<p style=\"font-size: 1.3em; font-weight: bold;\">Do your clients or customers understand exactly where you and your organization stand regarding respect of client privacy and full disclosure of benefits gained from using their data, perhaps without preserving privacy?<\/p>\n<p style=\"font-size: 1.4em; font-weight: bold;\"><em>Is this a new client-retention frontier for earning valuable client trust?<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u201cThere\u2019s big money in your personal data\u2014for others. Why not you? It\u2019s your data, after all. If you were paid for the use of the digital data you generate\u2014that is, you shared directly in the benefits that draw corporations to this juicy financial frontier\u2014would privacy be an issue?\u201d How would your clients or customers respond [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[15,72,66],"tags":[129,125,126,127,128],"class_list":["post-659","post","type-post","status-publish","format-standard","hentry","category-box-free-thinking","category-client-retention","category-shared-experience","tag-ai","tag-privacy","tag-privacy-laws","tag-privacy-protection","tag-sharing-data"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Is Payment Not Privacy The Answer? &#8211; What&#039;s Your Point? asks PJ Wade The Catalyst<\/title>\n<meta name=\"description\" content=\"If you stress &quot;our clients come first\u201d is it ethical to use client data for profit without sharing a \u201cpiece of the action\u201d with these data creators?\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.thecatalyst.com\/blog\/is-payment-not-privacy-the-answer\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Is Payment Not Privacy The Answer? 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