Data is the new oil - Seeker's Thoughts

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Friday, 21 September 2018

Data is the new oil


Data that means information which is stored online on various website to know about user’s liking, opinions, gender, location. 

The information can be used by social engineers to target campaigns and change the entire wind of the opinions during elections or for a campaign. 

The potential risk is that the information manipulates individual's minds and the outcome is controlled by big money investors, research institutions or may be political leaders. 

So, the data is the new oil term is relevant because the data is the most important thing for which governments and countries have been hunting for. 
Evidences
Due to the fear of misuse as recently there have been media reports of - Adhar Card leak, US election manipulation by Russia, to protect data remains utmost priority.  Even against the internet giant – Facebook, there have been some controversies that the data was misused by another firm. 

What did India do?
India set up the 10 member committee to recommend a framework for securing personal data in digital world. It was headed by justice B N Srikrishna.

Steps to protect 
It is necessary to create a collective culture that foster free and fair digital economy, respecting the informational privacy of individuals and ensuring empowerment, progress and innovation. It is also necessary to create trust between individuals and who process it.
Data Principles are necessary to protect personal data as an essential facet of informational privacy. The law is needed to protect the autonomy of individuals in relation with their personal data to specify were the flow and usage of personal data is appropriate, to create a relationship of trust between persons and entities processing their personal data. 
A new dimension- The right to be forgotten
Data principal which means the individual or the person providing their data has a right to restrict or prevent continuing disclosure. It also gives a data processor considerable leeway when it comes to decide right to be forgotten.  
There are some opposition about the recommendation of Draft of Personal Data Protection Bill 2018 against the right to be forgotten, to remove very old irrelevant and unnecessary information links from social media networks.  
The concept 'right to be forgotten' is prevalent in the EU and France. However the US did not prefer it as it might have suppressed the press freedom. A rape victim has right to be forgotten, at the same time criminal can not claim that he has the right to be forgotten what was done in past. 
Read Previous Post- Sanitation Workers- The Ignored ones

Conclusion
In highly growing online societies where services are also linked with computers like Adhar has be protected at any cost. Protecting data is essential as it will impact the entire social system including democracy. 
Policy makers and governments and corporates should balance the equation between individual privacy and data sharing. Therefore, there are various important aspect related to data, and data is no lesser than oil in today's world. 
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