In 2016 the General Data Protection Regulation transformed the rights of European Citizens to the ownership of their data. It was a move that was intended to directly counter the US belief (inspired by their First Amendment) that anybody could do what they liked with it, creating fortunes for the likes of Google and Facebook.
What it did not do was to restore the control of the data to the individual, indeed the establishment model where an institution demanded information which they then held on their computers remained the standard, which is the way it had always been, and nobody sought change. Partly through incompetence, but also as a result of a very capable criminal community, hacking meant that no data was really safe.
Something had to change, and that led thinkers and innovators to come up with the concept of the 360° economy, a euphemism to suggest the complete reversal of the model. In future the data owner would maintain and retain ownership and control of all their information, and if anybody else wanted to access it, they could only do so with specific consent, for a specific purpose – permission could be withdrawn at any time. Thus mydatalife was born.
There were similar security challenges, for more on that please see the Security tab.
With several distinguished contributors conducting research and creating opportunities within this area the concept is bound to evolve and develop, doubtless driven by customer demand. “Change is the only constant”, credited to the Greek philosopher Heraclitus 2500 years ago.