The Data Market: A Proposal to Control Data About You

Abstract

The current legal and economic infrastructure facilitating data collection practices and data analysis has led to extreme over-collection of data and the overall loss of personal privacy. Data over-collection has led to a secondary market for consumer data that is invisible to the consumer and results in a person's data being distributed far beyond their knowledge or control. In this paper, we propose a Data Market framework and design for personal data management and privacy protection in which the individual controls and profits from the dissemination of their data. Our proposed Data Market uses a market-based approach utilizing blockchain distributed ledgers for data distribution transparency and control and digital rights management technologies to provide for data confidentiality and secure distribution of the data. Our market framework and design provides an economic, legal, and advanced technology infrastructure that protects an individuals' right to privacy while nurturing a flourishing information economy.