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Information Privacy

A fair data marketplace for all

Siddhartha Raja's picture
Credit: Kentoh/Shutterstock
Billions of people around the world are barely aware of their participation in a trillion-dollar data market. Its growth and impact has been accelerated by the easier flow, storage, and analysis of data—thanks to rapid advances in digital technology combined with falling costs of computing. The global data economy is estimated to be worth more than US$3 trillion; the European Commission believes that personalized data was worth over EUR 300 billion by 2016. The application of personal data for online advertising is also skyrocketing with the internet surpassing television as the leading advertising channel. Two internet giants—Facebook and Google—have combined digital advertising revenues on par with the gross domestic product (GDP) of Morocco.
 
This marketplace is reshaping how people interact with and use information, leading to new opportunities. Yet, it confronts these people and policymakers alike with new questions of the trade-offs between privacy, convenience, and access to information.
 
In chapter 4 of our latest Information and Communications for Development report, we started to frame what this marketplace (or places) might look like. We sought to understand what the costs and benefits were for people—the producers of much the data, the most valued commodity in this new economy. We tried to abstract from the now almost (worryingly regular) news of leaks and hacks to get a better sense of what might be ways to think about public policies that lead to a more balanced and fair data marketplace. We thought about the opportunities and the risks that are emerging, but also about what might be ways to make data marketplaces fairer in their functioning.

Quote of the week: Edward Snowden

Sina Odugbemi's picture

"We are living through a crisis in computer security the likes of which we’ve never seen, but until we solve the fundamental problem, which is that our policy incentivises offence to a greater degree than defence, hacks will continue unpredictably and they will have increasingly larger effects and impacts.”

- Edward Snowden, an American computer professional, former Central Intelligence Agency (CIA) employee, and former contractor for the United States government who copied and leaked classified information from the National Security Agency (NSA) in 2013 without authorization. His disclosures revealed numerous global surveillance programs, many run by the NSA and the Five Eyes Intelligence Alliance, with the cooperation of telecommunication companies and European governments.