A strategy for Consumer Data Right
Nathan (Nate) Kinch
Practical ethics, organisational trust, nature inspired governance
The Consumer Data Right proposes to empower individuals with meaningful control over how they participate in the digital economy. It intends to do this by giving people new tools and protections that will enable them to share their data with the most trustworthy organisations, on terms they are actually comfortable with. By doing this, its hypothesised we, as individual or organisational participants, will benefit from new innovation and healthy market competition.
But this is not where we are today. We're just getting started on this journey.
Today the digital economy is imbalanced. It often disempowers individuals. It's organisation centric. It relies on many, high risk and arguably outdated business models, like RTB advertising. Individuals don't actively share data. They passively share it, engaging in what we refer to as the Agreement Bypass Bias (ABB).
We all want the future to be better than it is today, which is exactly why we need a shared vision. We need a 'North Star'. We need something that motivates us to ask and answer the hard questions. We need visibility of tangible progress to sustain our motivation in such a way we keep doing the hard work.
Just last week I had the opportunity to present at Cuscal's Curious Thinkers. During the presentation I proposed a vision, a strategic action plan, a series of tactics and key measures of progress for the Consumer Data Right ecosystem.
This builds upon our work designing information sharing ecosystems, specifically the work we've contributed to the Consumer Data Right here in Australia and Open Banking in the UK.
If you missed the presentation, don't fret. Here it is :)
We're (Greater Than X) putting this out there to invigorate discussion. This shouldn't be an echo chamber. We should be encouraging, supporting and challenging each other to think and behave more ambitiously. We should be optimising for the most socially preferable societal outcomes.
We trust this presentation - the ideas and the specific content - is of use. If you'd like to chat about any of this, hit me up!
Founder-CEO of Umio | Creator of Bergson AI and Health Ecosystem Value Design? framework | Founder-CEO Ooex Platform for Bringing Real Experience to Life? | Author Interactional Creation of Health | Adjunct Lecturer.
5 年Was working on this problem 18 years ago when John Hagel was first writing about infomediaries. Data control is fundamentally linked to the value derived from data. For as long as people derive surplus affect / experience value from sharing of their data, ownership will reside with the creators and owners of that surplus. With network effects powering increasing returns, that ownership will increasingly reside with a few companies. Data monopolies will result, with abuses of that power already evident. For data control to shift in favour of the person and their data, people must own the means of value creation and derive returns from its use beyond surplus personal experience value. At the level of the individual consumer, the balance of power is too tipped in favour of the value creator, but there are models that can work at the level of the real or virtual community. Where a community of persons co-creates surplus affect value from pooling and bargaining power of their data. And gets a return. For example, a community of people with the same disease or condition who pool their data on their lived experience to derive surplus value from traditional data owners in that disease space .. pharma, medtech, healthcare providers..
30 Years Marketing | 25 Years Customer Experience | 20 Years Decisioning | Opinions my own
5 年And let's not forget that in an ideal society, the possession of rights goes hand in hand with the exercise of matching responsibilities. What would be the matching responsibilities of these controlling customers? #ThinkItThrough
30 Years Marketing | 25 Years Customer Experience | 20 Years Decisioning | Opinions my own
5 年If only individuals were interested in controlling their data. The trouble is they aren't. They just want it to be used to create value, ideally on their terms. Focusing on control is an ideological mistake. And it doesn't serve customer one bit! #SkateToWhereTheValueWillBe