Many people are now opting to provide technology companies with their personal data in exchange for access to software. Do the advantages of this outweigh the disadvantages?

Sharing personal
data
with
software
companies
in exchange for using free
access
to their
software
is worry a trend. In my ,opinion Personal
data
should not be used for commercial purposes.
However
, many
software
companies
use it for their commercial benefits.
Data
user
companies
have
access
to millions of
information
of their
users
which help
companies
to add new feature to their applications.
Whereas
software
users
have the risk of leaking vital
information
to hackers.
Software
companies
use
data
to solve universal problems like
access
to banking and credit facilities for marginalised and poor segments of their database
users
. Many fintech
companies
now have
access
to the
data
of
users
who don’t have
access
to normal banking facilities.
Therefore
, they launched many neo-banking apps to provide credit and banking facilities for them.
For example
, In India Apps like Paytm, google Pay has revolutionised how banking happens among the poor sections of society. I am of the opinion that despite advantages
users
are at risk of leaking
information
to hackers.
However
, the biggest risk of sharing
data
is
users
don’t have their consent of using their personal
information
to
companies
. To cite an example, In Europe GDPR guidelines are introduced by Eu to prevent
such
practices. Which leads to strict policies for sharing
data
with third parties. Social media apps like FB, WhatsApp and Instagram are now closely monitored because of
this
.
Therefore
, I would argue that opting to share personal
data
with
software
companies
have disadvantages that outweigh the advantages.
To Conclude
, Sharing
data
in return for
access
to
software
has more drawbacks than benefits. It will have far-reaching consequences for its
users
. If, strict
data
-sharing guidelines are followed
then
only
access
to
software
should be allowed to
users
.
Submitted by yash334 on

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