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DATA DIVIDEND – A Profit Sharing Ratio?

DATA DIVIDEND – A Profit Sharing Ratio?

Doris Ukaonu

In 2019 there is a noticeable trend towards the implementation of a data dividend. As regulating of tech companies is becoming more urgent, the idea of consumers getting paid for their digital data is heating up.

If digital advertising has reshaped the future of the internet, what if there was a more efficient way to share the wealth than a Universal Basic Income? Google & Facebook and others such as Amazon, Snapchat, Twitter and LinkedIn among others would pay consumers for access to their data.

Source: Redding Record Searchlight

Recently the idea of a “data dividend” has received renewed attention, due to interest from California Governor Gavin Newsom. The idea that people are entitled to a cut of the profits from the data they are producing from their online activity and even location data that companies are collecting holds some intuitive appeal.

California governor Gavin Newsom’s proposal that big tech companies pay a dividend to residents is the latest attempt to address a widening income gap in the state that boasts the most billionaires. Details on how it would work were few particularly how it would replicate the most successful state dividend, Alaska’s.

Source: KGTV

“California’s consumers should also be able to share in the wealth that is created from their data,” Newsom said Tuesday night. “And so I’ve asked my team to develop a proposal for a new Data Dividend for Californians because we recognize that your data has value, and it belongs to you.”

The payout would be in exchange for something people are already giving up: their personal data.

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Source: Triple Pundit

With coming automation and increasing pressure of artificial intelligence on how the internet works and captures consumer attention, it only makes sense. A “data dividend” that internet firms would pay users is an idea that’s likely to also be pushed by Millennial democratic socialists such as AOC.

In an age of privacy reformation, it’s only natural data dividends will be implemented sometime in the 2020s since technology company giants are under increasing pressure from regulators around the world to disclose more about their data collection and give users better control over personal information.

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