Toni Fan: Data Deposit & Transfer
on Friday, September 8, 2017Toni Fan Money Quote saying it’s routine to move money from one bank to another, but we cannot so easily move our data. Toni Fan said:
“It’s easy enough to deposit assets, in the form of money, in one bank and withdraw it from another. But it’s far more difficult, if not downright impossible, to transfer personal data” — Toni Fan
Share the Toni Fan Money quote image above on your site:
Short Link to this Quote:
In this quote, Toni Fan is drawing a comparison between how easily money can be transferred between banks digitally, versus how challenging it is to transfer personal data between organizations in the same seamless way.
The best interpretation is that Fan recognizes it is simple for financial institutions to move assets like money around electronically as needed, but personal data, which is also increasingly digital, faces many more obstacles to being easily portable or “withdrawn” from one source and deposited with another.
Fan sees data as harder to transfer between entities if individuals want control over their information and choice in where it resides. The overall message is that while money is fluid in the digital world, personal data lacks the same liquidity and mobility due to technical and policy limitations.