Data is the New Oil

This is what we are being told by the economists and other internet experts ( including Mukesh Ambani )

That begs following question :

If old Oil made citizens of those OPEC countries so rich , can new Oil ( citizen’s private / personal data ) , make Indian rich ?

I always believed it could - and in order to realize that dream , I suggested a mechanism in the form of :

Privacy  for  Sale     ……………………………………….. [  26  Aug  2017  ]

Only Answer ;  a Statutory  warning  ……………..[  10  Nov  2018  ]

And repeatedly urged Shri Ravi Shankar Prasadji , to modify the proposed DATA PROTECTION BILL to incorporate my suggestion , which would enable 300 million Indian users of Facebook to earn $ 20 ( Rs 1,400 ) per month !

Far more than that Rs 600 per month that might get announced in tomorrow’s  BUDGET  under Universal Basic Income !

Here is the evidence :

Facebook to Shut Down Research App After Outcry Over Paying Teens to Harvest Data From Their Phones   

Extract :

According to a report, the Menlo Park, California-based company is paying as much as $20 (roughly Rs. 1,400 ) monthly to people to install a VPN app called Facebook Research on their iOS or Android smartphones.

The Android and iOS app, the existence of which Facebook has confirmed, is offered via third-party app testing platforms and asks for root-level permissions, giving it broad access to the activity on the participating user's smartphone. The Android app will continue to be offered, Facebook said.

Facebook responded………….

..It wasn't ‘spying' as all of the people who signed up to participate went through a clear on-boarding process asking for their permission and were paid to participate.

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To the critiques ( of my suggestion ) :

Of course , Facebook will not agree to pay $ 20 ( Rs 1400 ) per month to its 300 million Indian users for parting with their personal data ( - there are 10 ascending DATA LEVELS described in my proposal – each carrying higher price tag )

But , among the Social Media web sites , there seems to be an acceptance ( - even if grudging ) that they will need to compensate their users for their personal data , using which they have minted billions of dollars of Ad Revenue over the years – and continue to do so

If all the countries agree to implement my suggestion , I have no doubt that all the Social Media web sites will fall in line and agree to share their profits with their users

This is a golden opportunity for India to lead the rest of the World  !

And , my suggestion is not confined to only the Social Media web sites

It covers ALL web sites including E Com / Search engines / Fintech / Apps / Mobile Wallets etc

Even if each of these sites / apps , agrees to pay its user , just $ 1 ( Rs 70 ) per month, it is entirely possible that the Indian Government need not,

#    Introduce Universal Basic Income

#    Worry about finding Rs 7 lakh*crore per year

#    Hassle with the thorny issue of “ WHO “ is poor enough to be eligible for UBI

#    Fret over the method of this Direct Benefit Transfer

#    Decide which of its existing subsidies need to be withdrawn ( - horror in an election year ! )

Dear Shri Ravi Shankar Prasadji ,

I am sure , you will not fail to see the SIMPLICITY / ELEGANCE of my suggestion , which does not impose any financial strain on the exchequer , nor fear any opposition from other political parties

Just re-draft that  Data Protection Bill

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31  Jan  2019

Rsvp :  hcp@RecruitGuru.com