A columnist, Han Ming, has published an article on digital data and personal information being assets in the People’s Daily, the biggest newspaper in China.

In his article, he recognises that data is a valuable asset, and personal information is also a property right. A reasonable mechanism to reflect the value of information should be established based on the principle of,  “who owns, who benefits; who uses, who pays”.

He mentions that it is also imperative to protect the property rights of owning your data from a legal perspective, as soon as possible. Previously, there were legal provisions stipulating that network operators should publicize the purpose of their information collection and user’s consent has to be obtained for the use of that information. The practice should be extended into all areas involving personal information, especially in the “Internet+” industry. As long as the data is used by merchants to provide better services to consumers, rather than for selling as profit for company’s own good, the users can choose their level of disclosure as well as whether it is free of charge or sold at a cost.

We of the Cyber Republic know very well the above principles, and we are glad to see that the mainstream media has recognised the problem and has taken the initiative to publicize it and educate Chinese citizens. The principals are not new, and what is essential is the proper implementation and enforcement. Fortunately, the best solution (Elastos) is around the corner with nice progress in Elastos development: Elastos Carrier, Rutime, DID, merged mining, and the upcoming DPoS consensus, to name just a few. A new internet that safeguards personal information and digital assets will solve this massive problem and create a new economy of wealth to the society as a whole.

For the original article, please read: http://blockchain.people.com.cn/n1/2019/0411/c417685-31024683.html

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