Banking Data

Saturday, March 12, 2016

We put our money in a bank for safekeeping as well as for (a very conservative) rate of return paid as interest on our deposit by the bank.

The bank takes the money deposited uses it to make other investments such as purchases and loans that give the bank the income which it then shares with its shareholders and customers.

The bank also provides us services tied to our deposits, services that allow us to make more sense of our money and use it most effectively balancing short- and long-term needs.

The bank promises to keep our deposits secure, utilizing the best of class technologies and security measures for both in-person or online safety. But, realizing that 100% security is never possible, our deposits are insured by a government agency and the bank for a reasonably large sum of money.

We could replace "money" with data and "bank" with re-users of our data.

to be continued…