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Data Lake's Consent-to-Earn: A Revolutionary Model for Data Monetization?

1 min read Original Link

During the last decade or so, data has become a hot topic and often a controversial one. As a result of Big Tech abuses and government-led collection schemes, people’s data is mined continuously and in ever-increasing amounts. Almost all of this is done without the consent of the individual whose data is being mined, and in some cases even without their knowledge.

Data Lake, an EU-funded startup, intends to change this. Known as Consent-to-Earn (C2E), their solution gives people agency over their data by giving consent to its use, and it’s also an easy way to take part in a data economy that’s transferring eye-watering amounts of money. Medical data is their first target, which is worth hundreds of billions of dollars. A single medical record may be worth a few hundred to a few thousand euros to a researcher, depending on its quality and type. In addition, medical records can be accessed by any number of researchers multiple times, making them a perpetual asset with recurring value. As of now, this value has been rendered inaccessible or is being absorbed by private companies trading people’s data without their knowledge and consent.

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