...Yes, 1.57 per cent discount is better than a jab in the eye, but, is that all? Surely that personal data is worth much more than that?

It reminded me of some of the conversations I’ve had on the topic of consumer data privacy with senior executives in the tech industry. Yes, ensuring consumer data privacy is extremely important, the tech executives would say (because we don’t want the government setting new laws.) They would also note that while consumers will say they are very concerned about maintaining the privacy of personal data, they will sell that privacy very cheaply. This can be seen in things like supermarket loyalty cards, filling out “win a free vacation” cards in coffee shops, etc.

Clearly, the value of private consumer data is known, there are huge numbers of companies that collect, sell and monetize that information. But, it is not a public figure. If it were made public, I bet consumers would think twice about giving out their private data too cheaply.

I've long maintained that there is a good business opportunity in establishing a venture that would allow consumers to be gatekeepers of their own private data. A system that allows the consumer to be the gatekeeper to their private data, maintain the quality of that data, and allow access to all or part of that data to different entities. And for substantially more than a measly 1.57 per cent discount.