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On 23/02/15 22:35, Jay Bennie wrote:
On 23 Feb 2015, at 21:15, Eion MacDonald <eionmac@xxxxxxxxxxxxxx> wrote:On 23/02/2015 20:46, Jay Bennie wrote:I just found this while looking at insurance, is anyone up on the details about what data is being made "portable"? http://www.gocompare.com/money/midata/ The general essence of this initiative is to "share" via a centralised government backed data broker, data to help companies actively match your banking behaviour with the best products. ... and will share information such as who provides your mobile phone and utilities. Its being presented as a solution to the non competitive markets. but seriously this is a !wtf #Featureof1984 as authorised by Teresa May and if anything it means the competitors will have enough info to know exactly how much to price at to get the most out of you. JMore intrusive than you think. a)banks and insurers can already access you credit information, e.g. list of all routine payments and one off payments if seller asked for a credit score before accepting you and any delayed or defaulted payment.That i don't mind, it prevents fraud, and the result is pass fail or a generic score to the retailer. Whats being proposed is sharing the actual detail, i.e how much you currently pay. IMO thats too far.
<snip>for there to be free markets (something detested by those selling you stuff or espousing the free market) there has to be price transparency - but there is no need to identify the customer. We are in a technical state where we can obtain and analyse all the data we need from the economy to examine and test economic theory - that's never going to happen!
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