Why Hu.manity.co’s “My31” is Not a Sustainable Data Economy Model

Very true: but does IBM’s My31 deliver on its promise to give your data economic value?

The “buying” and “selling” of data as part of a “brokerage” arrangement is what we fundamentally object to in any form.

The question is, if not a new marketplace or economic model, what then — broadly speaking — is the point?

There is no getting round it: any form of “buying”/“selling” by definition requires a third-party medium of exchange to facilitate the activity — and whoever issues that medium can, and usually does, control those to whom it is issued.

The outcome for society, alas, is the same: a negative sum game whereby siloed data decreases in value due to it remaining unstructured by dent of being non-exchangeable at ever-lowering, “fair” market “prices”.

“Going once, going twice…” My31 “auctions” user data for medical research

Meritocracy be damned, long live meritocracy!

Not exactly: users are paid in a “currency” called “Hu”, which is apparently only redeemable for, er, T-shirts.

The point is that the motivation to trade user data for cancer trials should be the cure of cancer itself, not the acquisition of units of monetary exchange.

Remember, this is against the backdrop of a global “data market” in which we are yet to see anything more formalised than a Wild West-style free-for-all with participants picking over looted spoils.

On Decentr — as we give user data itself a payable value — the motivation to choose to share information is the increase in a user’s payable and tradable data value that the sharing of data on our platform promotes.

My31: claiming a “Human Right” that does not exist

How can you set up human rights around a system whose central construct has been explicitly used for millennia to oppress?

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