Stumbled upon very interesting article and here is the part related to personal data:
Prof. Shoshana Zuboff from Harvard says that personal data should be treated like body organs and as a human right rather than as an asset that can be bought or sold. According to Zuboff, no corporation should be allowed to use private data to influence user choices.
Prof. Shoshana Zuboff
As you read further along here are interesting thoughts: “Of course, blanket regulation of data would come rife with issues. Some regulations like Europe’s General Data Protection Regulation (GDPR) and the California Computer Privacy Act (CCPA) urge consumers to opt-out of data usage by companies. But this is problematic as consumers are usually unaware of how their data are exploited by corporations.
Moreover, much of value creation in the digital economy relies on the effective use of data to improve market interactions and consumer decisions. Over-regulation aimed at ensuring privacy runs the risk of imposing too many controls over data acquisition by platforms, which could in turn directly impact the platform’s ability to enable efficient markets.
Regulators will need robust frameworks explaining uses of data that benefit consumers and markets and those that are purely exploitative and aid value concentration towards a single actor, typically the platform owner. Ideally, the regulation would deal with data ownership and usage rights in a manner that not only enabled the platform to create an efficient market but also protected the ecosystem actors and assisted the bodies that represent them.“