Data and the digital economy: why people must take back control
In 1997, 27 years ago, Tim Berners-Lee, the inventor of the world wide web, said: “We lose out on the simple benefits we could realise if we had direct control over this data – and could choose when and with whom to share it.”
Member Download
This content has been restricted to logged in users only. Please login to view this content.
His words are even more relevant today. We still live in a world where large companies and governments hold the personal data of billions. This model has been great for targeted advertising and the surveillance economy. But it has also been a disaster in terms of security, with rampant data breaches leading to the theft of billions of dollars a year.
The status quo is unsustainable. We need a new model for the digital economy, one that returns control to individuals. This is the people-centric approach. It will create a world where you choose which data to share with the companies you trust.
Introducing the MEF ID & Data Yearbook 2024
The MEF ID & Data Yearbook 2024 is the first ever yearbook for the personal data and identity community. It provides the latest insights and data on this dynamic world-changing topic.
Download the report today and discover:
- How big is the market for personal data and identity?
- What are the benefits of a people-centric approach to data?
- How can we make the people-centric identity model workable?
- What are the user journeys for PIMS, wallets, authentication, and onboarding?
This report is a must-read for anyone who wants to understand the future of personal data and identity.
Key Takeaways
- The Current Model of Organizational Identity is Unsustainable: The present system where individuals relinquish control of their data to large enterprises poses significant risks like data breaches and misuse.
- Shift Towards People-Centric Digital Identity: There’s a growing movement towards empowering individuals with control over their personal data, enabling them to choose how and with whom they share it.
- Benefits for All Stakeholders: This shift offers advantages for individuals (restored trust, reduced risk), enterprises (freedom from data collection and storage burdens, access to accurate customer data), and governments (improved access to data for societal benefit).
-
Focus on Verifiable Digital Credentials: The foundation of this new model lies in the development of verifiable digital credentials and user-friendly applications for their management.
-
MEF’s Role in Shaping the Future: MEF’s ID & Data program is actively involved in establishing this people-centric identity model.
-
Call to Action: The yearbook encourages stakeholders to participate in shaping the future of this transformative industry sector.
