Brazil data experiment

Data is the currency of the modern world. It is why the likes of Meta and Google are worth around $2 trillion dollars. Globally, politicians are debating about the best ways to regulate data collection.

In Europe, Meta was required to give users the option to opt out of sharing their data. Meta responded by charging those users a monthly fee equivalent to what they could sell that data for. As you can imagine, regulators felt that was unfair.

Brazil is experimenting with creating digital wallets for internet users, allowing them to sell their data directly to various companies. It sounds interesting, but it also sounds very messy. You can read the details here - Brazilians will soon be able to sell their digital data.

I have worked with small businesses and I can see that having access to potential customer data is very important. If you are a business selling edgy women's clothing from a single store in Parkhurst, you want bang from your Instagram advert. You want to make sure that young ladies based in Joburg North see your ad, not a retired farmer living in the Karoo.

For me, I don't mind Google having access to basic data about me. I get to use many of their products for free, and I'm also served ads relevant to me.