Kaspersky Lab created a two-day pop-up shop in London called the Data Dollar Store, which used personal data, or “Data Dollars,” as the only form of currency accepted. The Data Dollar Store demonstrated the monetary value that personal data could have in future retail transactions, raising awareness for consumers of the importance of securing personal devices against data loss.
Woburn, MA – October 3, 2017 –Kaspersky Lab created a two-day pop-up shop in London called the Data Dollar Store , which used personal data, or “Data Dollars,” as the only form of currency accepted. The Data Dollar Store demonstrated the monetary value that personal data could have in future retail transactions, raising awareness for consumers of the importance of securing personal devices against data loss.
The Data Dollar Store caused a stir in the heart of London, as customers lined up from the early hours to purchase exclusive prints and artwork by renowned street artist Ben Eine. Upon entering the shop, customers were presented with a normal retail experience – browse through the products, pick your favorites and bring them to the counter to pay. However, when customers were asked for payment, it was not for what was in their wallets. Instead, customers were asked for “Data Dollars,” the new currency created by Kaspersky Lab consisting of personal data held on smartphones, including images, videos or text messages.
Kaspersky Lab created a video to capture the success of the Data Dollar Store, including how customers reacted to the new retail experience and their willingness to pioneer the new currency. The opening of the Data Dollar Store was intended to raise consumer awareness about the value of data, while appealing to other market players to join in this effort by using the Data Dollar symbol.
“We see the Data Dollar mainly as a means to raise awareness for the value of data,” said David Emm, principal security researcher at Kaspersky Lab. “So, if a website is offering services for free, but in return using customer data to monetize their service, they should use the Data Dollar symbol, to demonstrate that a form of exchange is actually happening.”
As the amount of personal data continues to grow exponentially, consumers could unknowingly be sitting on a gold mine of Data Dollars, which hold value regardless of geographical location or currency exchange rates. The lack of awareness around the value of data is a massive obstacle in making people understand why they should protect their devices. The Data Dollar Store is aimed at demonstrating the value of data and encouraging consumers to secure their data for a safer online experience.
“It’s easy to forget about the vast amounts of data we share on a daily basis,” said Emm. “The feeling of loss if it is taken away against our will becomes much more real when someone is actually physically taking your phone and deciding which data to take. This effect has been an interesting area to explore with the Data Dollar Store. According to a global survey 1 , while 29 percent of people worldwide have become victim of a cyberattack, 39 percent leave their devices unprotected from attacks. Customers should value their data, as much as the money in their wallets and purses. If it has a value, it can be used as way of exchange or purchase. However, we don’t want to feel out-of-pocket if that valuable data is lost or stolen so protection is key, or if the data we trade is misused.”
To learn more about the Data Dollar Store from Kaspersky Lab, visit www.datadollarstore.com or view our video.
About Kaspersky Lab
Kaspersky Lab is a global cybersecurity company celebrating its 20 year anniversary in 2017. Kaspersky Lab’s deep threat intelligence and security expertise is constantly transforming into security solutions and services to protect businesses, critical infrastructure, governments and consumers around the globe. The company’s comprehensive security portfolio includes leading endpoint protection and a number of specialized security solutions and services to fight sophisticated and evolving digital threats. Over 400 million users are protected by Kaspersky Lab technologies and we help 270,000 corporate clients protect what matters most to them. Learn more at www.kaspersky.com.
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