Today, consumers don’t get a fair share of the value from their data. Data silos restrict the accessibility of data for consumers and other business and therefore restrict the potential to drive innovation and new services and experiences for consumers.
Lack of control hinders consumers to share their data transparently and with consent with service providers they trust.
The answer is putting consumers in control of their data. A number of startups are trying to get the personal data economy up and running, but so far they struggle to get the required scale, says Florian Werner from Mastercard’s Data & Services in this interview.