Selling Your Data Could Be the Next Source of Income


Between the NSA, Google, and advertisers in general, the amount of your data that you give away for free is astounding. Everyone seems to be mining your data nowadays, but why aren’t you getting paid for it. (Technically you sign away your “rights” to some of your data by signing any “Terms of Service” agreement”)

I’ve always envisioned a better way to locally store all information from your interaction on a computer, instead of making that data really only accessible to services (sometimes malicious). These services take your data to try to better understand you, or people in your demographic. But if they really want to know what sites I visit, what I click on, where I look on my screen, etc., you’d ultimately have to store that information locally. Then, you could go to an “exchange”, where advertisers, etc. “bid” on your data. For example, say they’re trying to better understand 25-year-old males. My information would come up, and they could pay me $XX to know everything I’ve clicked, visited, etc. in a certain time frame.

Well, that wait might be over to start selling that data of yours. Thanks to Datacoup (https://datacoup.com/). With Datacoup, you essentially select which data you want to share (ranging from all types of social media to your checking account).  As I mentioned before, this data is worth millions, if not billions, of dollars to brands, advertisers, and data brokers. They’ll pay for access to the information that you care to share. Of course, what Datacoup is doing initially is strictly creating a better “marketplace” or “exchange” for this information. I think their next step should be some type of in-browser app that stores much of this data. Because today, if you think about it, these brands, advertisers, etc., can continue go through their traditional means of collecting your data (cookies, plug-ins, etc.). But until then, I think Datacoup has set a standard going forward for corporations to get to know more about a particular audience, instead of creating “back-doors” to access your data.

You could always “opt-out” of services that are usually inherent to programs, specifically your  web browser, by going here http://www.stopdatamining.me/.

Barring I don’t pick a perfect bracket and win  a $1 billion, this could be a nice second little income.

PS – This video of a guy who sold his data on Kickstarter, and makes some great points about selling your data and some metrics for context.

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