Want To Get Paid For Your Personal Data? Here’s How

Rather than having companies sell your information without your knowledge, wouldn’t you prefer to get paid when companies track you?

One company, called Invisibly, lets you do just that. You may not be rolling in dough after signup, however the concept might eventually change the way users interact with the online ad industry. It’s possible to earn passive income through Invisibly by giving you the control to license your data. Still in its growth phase, Invisibly hopes to help grow the amount that consumers receive over time.

Many technology companies are taking your sensitive information and profiting. They sell this information to other agencies who in turn use it for targeted advertising and marketing purposes. This is a large industry that profits from private consumer data, with little to no consequence. While passive income is the result, the main goal of companies like Invisibly is to create an environment where consumer’s own and can consent to the release of their data.

If you’re looking for passive income ideas, data monetization may be right up your ally. While it’s difficult at this stage to fully stop groups from abusing your data, it’s important that a privacy-focused mindset becomes mainstream. Once enough people see the value in their data, and that they do have the ability to control it, it may be easier to push back against things like data theft.

Jim McKelvey started the company with an ethical approach in mind. Invisibly functions as a middle man, or agent, who oversees a user’s right in making money from advertisements. Advertisers can sign up to the platform and will pay consumers for access to their information in order to show relevant ads.

Whether or not Invisibly’s approach is viable as an upcoming business model is still unknown. Many people would prefer not to sell their data at all, and have full privacy over their personal information. Before you dive into it headfirst, it would be a good idea to think about what information you do and don’t value as strongly, and how much you feel it’s worth.