This app is paying you for using your personal data! Understand how this work is done

highlights

Cayden is an American startup that has received funding of $ 6 million.
Next year this app will start beta testing with 10000 people.
In 2018, Nandan Nilekani has also discussed like this.

new Delhi. An app named Caden is giving people money in exchange for their personal data. This is an American startup that allows people to download their data from websites like Amazon or Airbnb and put it in a personal vault. Those who agree to share this data on their own free will, this app gives them a part of the revenue. Significantly, the value of your personal data is very high in digital marketing, but you do not get any benefit from it. In such a situation, continuous discussions are going on to change this situation.

Various companies are restricting the use of their data to provide security to their users. For example, Apple issued a new policy last year, which states that now apps need to take permission to track users’ personal data. Please tell that many people have refused to give permission. It is becoming difficult for such digital marketing companies to collect or track data.

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How will Cayden work?
According to an article published in the Wall Street Journal, people still have no control over their data. No opinion of the user is taken in how they are to be used. Cayden is trying to change that. This app will also give many options to those whose permission will be sought to share their data. In this, the user will be asked how and where your data can be shared. The company is about to start its beta test among 10,000 people from next year. It has also raised funding of $6 million. Yahoo co-founder Jerry Yang is also among those who put money in it. According to the news, the user / consumer will be given between 5 to 20 dollars for data sharing.

Discussion happened 2 years ago in India
You will be surprised to know that exactly the same concept has been discussed in India 2 years ago. It was started by Nandan Nilekani, the architect of Aadhaar. He had said that people should have full rights over their data and should use it for better healthcare and loans on easy installments. The Telecom Regulatory Authority of India (TRAI) had also said that the owner of the data should be the consumer and the companies can only be its custodians. They should not have any primary rights over the data. Currently there is no reward for data sharing in India. But it is possible that in future Indian people will also get the right value of their data.

Tags: business news, data privacy, Data Protection Bill, earn money, Personal Data Protection Bill

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