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The Personal Data Economy: Overview and Insights · 2 Insights into Competitive Dynamics Dr. Nicola...
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The Personal Data Economy: Overview and InsightsDr. Nicola JentzschBerlin, 31. März 2017
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Overview
1. Overview of the Ecosystem and Platforms
2. Insights into Competitive Dynamics
3. Conclusions
Dr. Nicola Jentzsch (31.3.2017)The Personal Data Economy: Overview and Insights 3
Overview of the Ecosystem and Platforms
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• Emergence of a new market • Different types of business models
• No dominant player has emerged thus far
• Increasing degree of organization• Initiatives and associations
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CitizenMe(UK)
DataCoup(USA)
Personiq (DE)
MesInfos (FR)
OpenPDS (USA)
MyData Interoperability
Model (FI)
Gini‐SA(EU)
2010‐2012
MyData Initiative
(FI)
Data Fairplay (DE)
CompaniesGovernment initiatives / government cooperation
Customer Commons(USA)
Qiy Foundation
(NL)
OpenID (USA)
RespectNetwork(USA)
Cozy Cloud (FR)
Digital Me»di.me« (EU)
The Good Data (USA) Personal Data
Ecosystem Consortium
(UK)Meeco(UK)
Digi.me(UK)
Project VRM (USA)
MyDexCIC (UK)
Open Identity Exchange
(GB)
CoMaFeDS (DE)
MiData.coop(UK)
W3C Platform for Privacy
Preferences (USA)
LETsmart (DE)
Kantara Initiative (USA)
MyPermissions (IL)
DT Privacy Bot (DE)
Humada(USA)
ISO (CH)
Verify(UK)
Smart Disclosure Initiative (USA)
Handshake (USA)
Jolocom (DE)
OAuth 2.0(UK)
PGuard(DE)
Research projectsStandardization
initiatives
Fig. 1 Ecosystem
Source: Jentzsch (2017)
1 Overview of the Ecosystem and Platforms
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• Re/locate control over digital profile to consumer (choice of privacy settings)
• Increase transparency of data generation, flow and usage
• Allow innovation by facilitating access for developers of new products and services
Primary goals stated by platforms
1 Overview of the Ecosystem and Platforms
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Fig. 2 ‘Traditional’ Intermediation Model
User
Telecom
Banks/FIs
Insurance
Retail
Telecom
Banks/FIs
Insurance
RetailConsumer Reporting
Agency(aggregation, analysis,
licensing, sales)
Primary Transaction
Secondary Transaction
Consumer Direct
Products
Source: Jentzsch (2017)
1 Overview of the Ecosystem and Platforms
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Fig. 3 PIMS Model
User
Telecom
Social media
Banks/FIs
Retail
Telecom
Social media
Banks/FIs
RetailPersonal Information Management System
(Platform)
Primary Transaction Secondary Transaction
AuthorizationConfiguration
PeersConfiguration
Source: Jentzsch (2017)
1 Overview of the Ecosystem and Platforms
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Taxonomy
Centralization of information at service provider (w/wo
consumer direct contact): Google, Experian, Acxiom, Facebook
Provider‐centric Intermediation Platforms
User‐centric information management based upon a technical
platform and a related trust framework
User‐centric Intermediation Platforms
Hub models: (i) Centralizing models (server, clouds)
(ii) Decentralizing models (local storage at user)
Distributed models: Data storage in DLT, BlockChain
1 Overview of the Ecosystem and Platforms
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Name Type Functions €/$/£? Architecture
Meeco (UK) Firm(for profit)
Curating functionsLinkage data setsIntent castingMarketplace
Planned App/platform/cloud/local storage
Telecom Italia (My Data Store)(IT)
Firm(for profit)
Curating functionsData centralizationMarketplace
Planned App/platform/ personal cloud
Deutsche Telekom (DE)
Firm (for profit)
Curating functions (FB)Transparency
In evaluation App
MesInfo (FR) Project (non‐profit)
Curating functionsLinkage data sets
Not planned Platform/personal cloud
Table 1 Preview of Business Models
2 Insights into Competitive Dynamics
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Competitive Dynamics
Consumers Companies
Platform
Direct network externalities
Indirect Network Externalities
Price = 0 Price > 0
Fig. 4 Multisided Markets
Direct network externalities
• Attraction of both (or multiple) sides• Achieving a critical mass• Competition against large players, academic projects
2 Insights into Competitive Dynamics
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• Competition in market for personal information goods
• True value‐added: Information quality and portfolio key
• Trusted third party (large player build platforms, too)
• Superior reward mechanism
General insights regarding competition
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• Stated versus revealed preferences: Guidance?
• Transaction costs (time costs, cognitive effort)
• Potential inertia
• Unintended behavioral unraveling?
• Cost/benefit trade‐offs
General insights with respect to consumers
3 Conclusions
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General Insights
• Market in the making with great challenges
• Unclear dynamics of uptake by companies & consumers
• Additional channel co‐existing with other intermediation?
• Political support could reduce encountered obstacles
3 Conclusions
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Supportive Measures
• Increase precision of consent language (ML)
• Exchange on interoperability and portability standards
• Yearly conference, PPP
• Transfer knowledge from research community
Vielen Dank für Ihre Aufmerksamkeit.
DIW Berlin —Deutsches Institutfür Wirtschaftsforschung e.V.Mohrenstraße 58, 10117 Berlinwww.diw.de
RedaktionDr. Nicola Jentzsch [email protected]