{"id":115067,"date":"2017-10-27T13:50:38","date_gmt":"2017-10-27T17:50:38","guid":{"rendered":"http:\/\/countingpips.com\/?p=115067"},"modified":"2018-06-01T15:53:36","modified_gmt":"2018-06-01T15:53:36","slug":"trading-roundup-can-data-be-considered-currency","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2017\/10\/trading-roundup-can-data-be-considered-currency\/","title":{"rendered":"Trading Roundup: Can Data Be Considered Currency?"},"content":{"rendered":"
October 27, 2017<\/div>
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By Admiral Markets<\/b><\/p>\n

\"DataDollar.jpg\"<\/a><\/p>\n

You may not know it, but companies like Google, Facebook and Amazon are targeting you, every day, because your data is worth a lot to them. How you move around the web builds up a unique footprint, which helps these companies, and their contemporaries, better understand how to target you for advertising, increasing the likelihood that you hit that oh-so-important ‘buy’ button.<\/p>\n

To highlight this, renowned Russian anti-virus and computer protection company, Kaspersky Lab, recently demonstrated how personal data could be used as a currency at their two-day ‘pop-up shop’ in London. The Data Dollar Store<\/em> saw potential buyers queuing for hours to buy unique artwork, and they were quite surprised at the methods that could be used to pay for it\u2026 Their very own, personal data \u2013 images and videos of themselves, for example.<\/p>\n

Kaspersky Launches The Data Dollar Store<\/em><\/h2>\n

The store attracted shoppers desperate to get their hands on exclusive prints and artwork by Ben Eine, the famous street artist. It began as a usual retail experience \u2013 browsing, picking up your favourite items, and taking them to the counter.<\/p>\n

However, when the customers were asked for payment, it didn’t involve their wallets, the currency required was Data Dollars \u2013 a new monetary unit created by Kaspersky Lab that is basically customers’ personal data stored on their smartphones \u2013 for example, images, videos, and SMS texts.<\/p>\n

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Source: Kaspersky Lab<\/p>

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What’s the Point?<\/h2>\n

Kaspersky Lab is looking to raise awareness of the true value of personal data and appealed to other security companies to follow their example by using the Data Dollar symbol.<\/p>\n

\"Data<\/a><\/p>\n

Source: Kaspersky Lab<\/p>\n

The amount of personal data continues to grow exponentially and consumers are totally unaware that they have a potential “gold mine” on their hands \u2013 literally. Personal data is a currency that holds its value regardless of geographical position or the variable monetary course. According to Kaspersky Lab, this lack of awareness represents a huge obstacle in the process of understanding why personal data needs to be protected.<\/p>\n

They hope that the Data Dollar currency will raise awareness among users and make their Internet browsing experience more secure.<\/p>\n

During the period of two days, Kaspersky Lab’s improvised shop in London demonstrated how data could work as a currency. The Data Dollar Store attracted many customers.<\/p>\n