By Jack M. Germain
7/16/2021 5:00 AM PT
Shouldn’t You Get Paid When Companies Use Your Personal Information From The Internet? How much is your personal information published online worth to you?
Would you register your personal information to get paid when companies track you and use your own information to target you for ads? Invisible enables you to do just that.
Don’t expect to make a ton of money, at least until the concept is adopted more widely, admitted Don Vaughn, product manager at Invisible. Then you could generate substantial passive income with very little effort.
Invisible’s innovative Information Registry program has the potential to become a game changer in the online advertising industry.
Currently, Big Tech and the advertising industry are using information about you for free. Both companies benefit from your data for targeted advertising purposes.
Now they are not offering you a red penny in compensation for the use of your private information. But that is likely to change as consumers become more persistent with the blatant theft and use of their personal information.
Of course, new legislation that rides the gimmicks of big tech more will fuel those efforts further. Moving an entire industry to a more consumer-friendly model requires involvement on multiple levels. You can now get this pump ready by signing up to Invisible and getting paid.
With Invisible’s product, you can get paid to license your data. The company believes that people are – or at least should be – in control of their data; no corporations, says Vaughn.
“We’re empowering people to use their own data to make money from their data, just like businesses make billions of dollars in card transactions every year,” he said.
The E-Commerce Times spoke to Invisably’s Vaughn about the possibility of making money from your personal information. We found that signing up for this passive income channel represents a fundamental opportunity for an important trend to capitalize on data that is no longer your private domain.
Selectively license your payable data profile
Spend some time searching the internet. You will find numerous companies and smartphone apps that can be used to earn small pots of passive income. Some even offer strategies to get paid for using consumers’ personal data.
A home industry is growing, with some companies actively working to change the practice of “stealing” people’s personal travel and shopping information just to make money from them through targeted ads. Their goal is to transform the advertising industry in general in favor of a data model based on the use of 100 percent consumer-approved and proprietary data.
However, there is no longer a cog in the rolling wheel of paying for consumer information. The changes in social media have made it a lot harder to make money or build a following as quickly as people used to be.
So what other alternatives are there to make some extra cash? The monetization of data is fast becoming the future of passive income.
How it works
Invisible’s model enables users to control the types of information licensed for marketers. But the company has so far done nothing against advertisers and other data scrapping operations to enforce so-called license violations.
“That’s not what we’re focusing on right now. We only focus on allowing you to take control of your data. Essentially, we’re releasing a product that allows you to filter news, events, and products will reset your own data, ”Vaughn explained.
Expanding the company’s role in protecting licensed user data from stealth without paying is beyond Invisible’s current goal. Vaughn notes that he wishes the company could solve the entire privacy problem at once. However, it is very difficult to prevent other companies from using your data, he repeated.
“They’re following you all over the web. A privacy guide is on our roadmap. A lot of people just toss their hands in the air when they reveal their personal information is to start getting paid,” said Vaughn.
As soon as people realize they can defend themselves against blatant data theft online, they will become more interested in the services Invisible offers in the future, he added.
Your privacy, your choice
Essentially, Invisible works much like an athlete’s agent. The agents monitor who makes money from the image of the athletes in advertising. Invisible thinks everyone should have this right.
Invisible’s approach is to get consumers to control their personal information online now. It’s kind of an entry into the ground floor movement.
Start small now and earn big returns later. Invisible hopes consumers can make about $ 1,000 a year on their data over the next two years.
Right now, you’re getting a few dollars a month. But soon that could be around $ 100 in passive income, and that’s only from Invisible.
When you add in the other platforms that are now launching similar personal data licensing models, your passive income pot could see some bigger payouts. What could a few hundred dollars more a month do for your life?
“We make it super easy to share and license your data with Invisible and earn money with it. In this way, you are also helping to change the way data is obtained to a 100% data model with consumer consent, ”said Vaughn.
Invisible recently launched its online platform designed to help people make money by sharing and licensing their personal information with advertisers. Advertisers already use this data.
Jim McKelvey, who previously co-founded Square, founded Invisible with support from Peter Thiel’s Founder Fund. His goal in founding this company is to build a future in which approval counts and people come first.
He hopes the people-first system will set a new ethical benchmark for any company in the data space. He wants Invisible to be living proof that a better way is possible.
“It costs exactly $ 0.00 to register your personal information with Invisible. The company forwards your licensed information to new advertisers.
These new advertisers want to serve you relevant ads. But they sign up to pay you to use your personal information to get their targeted ads.
Nobody gets your social security number and all of your non-public information. The ad makers will only identify the details that might get you to buy their advertised products, Vaughn explained.
Monetization is the thing
Advertisers who sign up with Invisible are happy to pay consumers to access their personal information. They want to show you relevant ads.
“So when you provide the details that say you’re shopping at Target, advertisers pay you for that knowledge in the first place. And that’s where the money comes from, and that’s why we do all the hard work, and you get yours Data and, in return, you will see more relevant ads online that are under your control or based on your data, “explained Vaughn.
Sustainable business model?
Will this strategy of getting consumers to sell their personal information gain in importance? That remains to be seen.
ECT News Network surveyed our audience online for a week in June and asked, “Would you license your personal data to advertising platforms if you were paid directly for it?” Eighty-nine responses gave these results:
- Yes – so much of my personal information is already in the hands of advertisers anyway; I can get paid for it too. (9 percent)
- Possibly – It depends on how much I am being compensated and how the data I authorize to share is used and protected. (21 percent)
- No – I would not sell my personal information at any price. (70 percent)
What do you think of selling your personal information to advertisers? Use the reader comments feature below to do your part!