Data has become the most valuable commodity in the world, the same way as oil was a century ago, and concerns are similar: most of the world’s data is in the hands of a few giants, namely Google, Facebook, Amazon, Microsoft and Apple.
As their reach keeps expanding and profits keep rising (their collective profit was over $25bn in the first quarter of 2017), experts are calling for the need to break up their dominance or to create another platform that would provide a more private method of browsing.
For example, German companies are planning to curb the data industry’s dominance by creating a joint platform that will allow customers to determine whether and how their personal data can be used by third parties.
In the meanwhile, the data dominance by industry giants results in personal users’ data being tracked, collected and sold to third parties.
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Source - IT News Africa