Digital AssetsGlobal StandardsIdentificationMarket

The Myth of Free Services

Free or not-so-free: that is the question. In days gone by, the cost of a product or a service was exactly what it said on the price tag. $1.99 for a quarter-pounder, 23 cents for an apple or $10 for a car wash. However, as we move further into an increasingly digital economy, this is no longer the case. Instead of paying an agreed amount for an item, users are, knowingly or unknowingly, also paying with their personal data.

The average consumer doesn’t usually stop to consider the hidden costs that they are paying for access to the multitude of everyday services they are enjoying, including search engines, news websites, social media and wifi; or even the hardware they are using, like Google Home, Amazon’s Alexa, FitBits and Apple Watches. Almost everything is recorded, monitored and sold. Social media posts are tracked by algorithms to measure personal sentiment and values. GPS is used to track daily movements. Spending habits are identified. All of this and more besides is aggregated and sold for vast sums to interested parties.

 

READ MORE OF THE ARTICLE AT BLOCKPASS MEDIUM

Based near Windsor, England, Matthew Warner is an enthusiast for innovative, cutting edge technologies. He is a B.Eng. graduate in engineering with honors from the University of Warwick and also holds an PGCE in education degree. Matthew is a member of Mensa.
Free AllCoinsNews Email Updates
Get the latest cryptotoken market news and blockchain developments!
We respect your privacy.