US presidential candidate: 'Users can make money from their data by turning it into personal property'

Democratic presidential candidate Andrew Yang announced his comprehensive plan to regulate the technology industry in a blog post on Thursday.

In a blog post on November 14, Andew Yang, the Democratic candidate who will run for the US presidential election in 2020, has launched a plan to adjust his technology, if elected.

Accordingly, his top priority is to establish "data as a property right". This will give people more control over their data and potentially allow themselves to make money when technology companies want to use this data in their products and services.

US presidential candidate: 'Users can make money from their data by turning it into personal property' Picture 1

Andrew Yang, US presidential candidate 2020.

Compared to the present, this will create a huge change in the whole of the United States, as well as affect the global. Today, companies often own all user-generated data on their platform, restricting access to that data by both users and authorities, as well as making a lot of money from it. . With Yang's proposal, he believes that "our data is now more valuable than oil."

"By taking steps to increase transparency in the process of collecting and monetizing data, individuals can begin to reclaim ownership of what belongs to them," Yang said in a statement. plan.

According to a report cited by Yang, the collection and use of personal data by Americans has become a $ 198 billion industry and he said that users did not receive the money that was worthy of what they spend. In a debate in October, he asked the audience: "How many people remember checking their data in mail? It was lost. It was sent to Facebook, Amazon, Google."

In addition, Yang also wants to address issues such as technological ethics, misinformation, biased algorithms and modernization of government regulatory agencies. He wants to create a separate agency, whose task is to minimize the "health impact of modern technology" on people, especially children.

Yang further explained his views at a fundraising event in San Francisco this week, noting that technology executives like Elon Musk agreed that the technology industry needs more regulation.

The adjustment of the technology industry has become a popular and increasingly mentioned issue within the Democratic Party recently, which is also a major highlight in the 2020 election race in the US. Some other candidates like Elizabeth Warren even propose to "break" the giant technology corporations.

Refer to Business Insider