Representatives that will craft the law for Internet best practices. As a cyber law expert, I have read both bills that are currently on the floor and have been watching with great interest the discussion they are generating. Business and consumer groups alike are all showing up and demonstrating the power of democracy at its best by expressing their opinions. This is volatile legislation because it could easily change the way personally identifiable information is handled and what businesses need to do with the information they have collected.
This isn’t called the Information Age for nothing! The free flow of data is the lifeblood of most businesses. And that lifeblood is thicker than water and almost as costly. Not only are there big bucks in general business information like listing data, there is a monetary value placed on each bit of preference information collected about you. This Wall Street Journal article reveals that one of the fastest growing businesses on the Internet is gathering consumer information. Is this a bad thing?
It depends.
These great technology advances are helping to make the consumers’ online experience as personal as having a valet and assistant combined even to the point of being able to predict what an individual is likely to want based on history. That’s pretty convenient! I was talking to a friend who was looking up medical symptoms on the web and targeted ads appeared on the right side offering up remedies commonly known to help ease symptoms of that ailment. To some people, that is a great service. Some even say that this is the era of great breakthroughs in human behavior research.
On the other hand, if you are interested in maintaining a modicum of a private life, some of these great technologies are a bit disconcerting. Though the benefits of social networking are being proven, many people are still uncomfortable not being able to control information that is and is not gathered about them.
This sounds like a dilemma to consumers but to a number of forward thinking technology firms it is an opportunity. I came across this company, which helps consumers monitor what advertising networks have in your profile and gives you the control over your own interest data. Bynamite claims to have the world's most honest privacy policy. It is well worth a read since it clearly explains what I believe, which is that the next generation of privacy is about controlling how your information is used.
What information you reveal, to whom and for what reasons, are your choice. Ask a business why they need your information beyond what you feel is necessary for your transaction. Be willing to say no. Research your privacy and opt-out options on websites and uncheck or check boxes to maintain whatever level of privacy you wish.
Or, as we say in each of our newsletters, it is up to you to stay aware and alert!
