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Consumers are increasingly restless about the trade they have made with Big Tech: free services in exchange for personal data. They do not believe they can do anything about it, but in fact they can. What Big Tech has proved is that data is valuable and powerful. So what would happen to the balance of value and power between consumers and Big Business if consumers owned their own data? To find out, watch the Future of Finance interview with Sam Seaton, CEO of Moneyhub.
Questions that are being asked
- Why is data such a powerful tool for consumers?
- How exactly does consumer control of data put companies under pressure to cut prices, innovate and personalise?
- Is the data of sufficient quality and extent to achieve the vision of a digital economy driven by consumers granting access to their data?
- Are banks (and energy and telecommunications companies) resisting Open Data?
- What other sectors are vulnerable to an Open Data economy?
- How should price comparison websites evolve their business model?
- Can consumers be confident their data is transferred and held securely?
- What other forms of data will become available (e.g. mobile telephone data, Internet searches etc.)?
- What does the ideal Open Data regulation look like?