Michael Fertik: Reputation is the new currency, data is the new oil

Michael Fertik, a Digital Privacy Pioneer and the CEO and Founder of Reputation.com said that he was “ecstatic” about our new reputation economy in one of his interviews with Andrew Keen of TechCrunch. He believes that the reputation can be used as replacement to currency.

But on the other side, Fertik is not ecstatic with the new online products that are emerging in the market nowadays. One example is the facial recognition technology which he said is exploiting the online consumer’s privacy. According to him, data is the new oil because among all the people, the only ones who do not get any benefit from the social economy and new online products nowadays are the consumers themselves. But he believes that there are still solutions to these issues, these are the products that entrepreneurs like him provide which will authorize consumers in our Web 3.0 world of personalized data.

As with his company, Reputation.com, being the provider of services that will keep companies and individual identities safe on the Internet, he believes that they are in a good position in the digital ecosystem. He has a great team working together for the company to become the new rating index in the said ecosystem.

Why Data is the New Oil

Publicness, Transparency and Being Naked

Entrepreneurs: How to Build Privacy Companies 

Source: TechCrunch

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