If user data is the currency of the information economy, then where are the banks? That's the question posed by the founder of a product innovation company that is exploring the potential of data banking as a business model for the Web.
In this month's Inside 1to1: Privacy, we take a look at data banking and exchange. It's a provocative concept and one that will certainly need to be teased out a bit before taking off.
Many have criticized privacy policies for their complexity, saying that legalese-laden language obscures the information consumers need to know. Qwest hopes to dispel this notion. The company worked with plain language experts to describe its business processes in a way the average consumer would get.
The revised policy will take effect in August. Will it work? Only time will tell. We'll circle back on the topic in an autumn issue of Inside 1to1: Privacy. Stay tuned.
J. Trevor Hughes, CIPP
Executive Director, IAPP