How much is privacy worth around the world and across platforms?
Understanding the value that individuals assign to the protection of their personal data is of great importance for business, law and public policy.
In the digital age, consumers share lots of personal info online and the concept of data privacy is typically applied to personally identifiable info (PII) and personal health info (PHI).
A new study by the Technology Policy Institute estimated how much people value their PII and how these vary across countries, data types, and platforms.
Here’s few highlights:
1. Privacy values differ across countries. Germany’s status as the country with highest value for privacy.
2. On average people placed the highest value on keeping financial data, biometrics (fingerprint), and texts private.
3. A tech platform would need to pay users:
– $8.44 monthly for their bank balance info
– $6.05 to look at the texts
– $5.80 to share cash withdrawals data
– $7.56 to share fingerprint data.
– $1.82 monthly to share location data
– $0,00 to receive ads through text message
Privacy concerns arise wherever PII is collected, stored, or used. However, even if I am not sure this is the true cost of privacy, this is a good attempt to quantifying it.
