Data As The Fuel Of Modern Economy

Data is the new oil as it has gradually evolved as a valuable commodity that can be bought and sold, and serves as a strategic resource for nations. Indeed, digital assets now matter far more than physical ones. The Internet, it has become clear, is not so free, after all as users are paying in the form of personal information, which is collected by “data brokers” and sold to third parties.

In 2018, news broke out that the political consulting firm Cambridge Analytica had harvested personal data from tens of millions of Facebook users and sold it to political campaigns. The ....