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Selling Data Freely Proposed as Data Breach Solution

With the uproar created by Facebook over privacy issues of their services, other tech companies are bringing in a broom to clean the mess. This is coming in the form of enabling users to sell their own data to companies or government willing to buy them.

For instance, a company called Hewlett Packard Enterprise (HPE) has created a prototype where information from someone’s car can be collected on their Edgeline server and stash them on a blockchain. They can sell the data from their car activity to a city manager who might be interested in collecting information about traffic conditions and pothole locations. Gas companies might want to purchase data regarding drivers’ fuel levels to help predict fuel demand of a specific area. Even windshield wiper activity is an important information for those interested in providing timely weather update, according to Fortune.

HPE’s blockchain director Raphael Davison said that this kind of information is valuable if channeled through the proper route. And right now people are just giving it away for free. So why not monetize for additional income?

HPE has already partnered with Nokia and a Swiss startup called Streamr to transform this idea into reality. The payment will come in the form of cryptocurrency called DATAcoin. Last year, Streamr managed to raise $30 million in their initial currency offering.

The goal is to have users place their data on a blockchain using web-connected devices and selling it to governments, ad agencies, pharmaceuticals, and other private companies interested in purchasing the information. This will essentially cut off the corporate middleman and directly place the consumer in front of companies seeking certain data.

And it isn’t just drivers who can benefit from this. Farmers to small and large businesses can take advantage of their collected data and sell them to people operating in certain niches. The HPE is currently looking at ways on how to enable patients to collect and share their medical and health records, which can stave off some of the hospital bills they’ve accumulated.

Of course, it’s going to take a few years before all of this can be implemented to the point that farmers and drivers will benefit from it. However, the technology to usher it in the real already exists so it may not be too far off. Steamr’s CEO Henri Pikhala said that the ultimate goal is to develop the idea where users can simply have an on and off switch to collect and sell their harvested information.

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