Big Data is the "new oil" of the digital economy, according to speakers at Russia's 2017 SPIEF economic forum.
In order to prevent uncontrolled sales of this valuable and important info, the government should streamline and oversee it, according to the participants.
The chips haven't yet settled in the global understanding of how we should treat Big Data. Is it private information or public domain? is one of the most pressing questions around which laws and regulations will be made.
"Right now we are undergoing a major revolutionary upheaval in the society," noted residential aide Igor Shchegolev, "not only a technological revolution, but a revolution of moral standards as well." He said that sometimes ordinary citizens don't understand what they're doing, and inadvertently give away too easily things like personal information.
"Maybe some of the users will do what Native Americans did, when they traded their land for glass beads, unaware of its true value," he added.
"Today, a vast amount of Internet companies offer software for free, but collect Big Data on users in return," commented Alexander Zharov, the head of Russia’s communications watchdog Roskomnadzor. "Currently, the Russian legislation and international laws do not mention the notion of Big Data. We need to codify approaches toward the processing of Big Data, terms of its storage, transfer and secondary use."
"My forecast is that a law on the issue will inevitably appear," maybe in 2018 or 2019, he told reporters on the sidelines of the forum.