Saturday, August 8, 2020
Home BUSINESS Facebook Said To Mukesh Ambani, Data is Not Oil

Facebook Said To Mukesh Ambani, Data is Not Oil

In response to the country’s richest person Mukesh Ambani’s plan to store data inside the country, Facebook has said that data is not new oil. Countries like India should allow its free flow instead of depositing it within their borders. According to Facebook’s Vice President of Global Affairs and Communications, Nick Clegg, data sharing is extremely important for the country’s security as India is kept away from global data-sharing measures aimed at ending crime and terrorism.

Ambani compared data with oil

Recently Reliance Industries chairman Mukesh Ambani had said that data is the new oil. He proposed to store the data of Indian users within the country instead of taking possession of it by the Global Corporations. In response, Nick said that many people in India and the world feel that data is a new oil and as keeping the oil reserves within the national boundaries increases the economic prosperity in the country, in the same way, storing the data at home Will benefit But their thinking is wrong.

The value of the data will come from its free flow

Nick said that data is not oil. Data is not a limited commodity that can be monopolized, traded and removed from the ground and burned in cars and factories. If you have to compare the data with a liquid, then do it with water. The global internet is like a vast and borderless sea. The value of the data does not come from storing it or trading it like a limited commodity, but from the innovation that comes from its free flow. The algorithms and services and intelligence that will be created from this data will reveal the value of this data.

People get a chance to decide

He said that this innovation has the potential to bring great wealth to India. And this innovation will put India at the forefront of the global internet in the coming decades. He said that India should create a new template for the Internet that gives people the right to decide what will happen to their data. A template that promotes competition and innovation and is open to all and accessible to everyone.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisment -

Most Popular

Market Optimization Is the Way to Boost Your Late-Career Start-ups

In this time of the global pandemic, the whole world is battling the deadly coronavirus. To stop the spread of this virus, we had...

Agritech startup? Microsoft will Help you Build Solutions, Scale Them with These Unique Offerings

We all know Microsoft as one of the world’s leading technology companies. It currently offers many services and products like computer software, electronics, computers,...

Meet The 8 Mobility Startups Helping Frontline Workers in The Fight Against Coronavirus

Ever since the Coronavirus or COVID-19 broke out in Wuhan, China, it has spread throughout the world at a very rapid pace. A virus...

The 10 Best Cybersecurity Startups To Watch In 2020

We all must have heard the words like Cybersecurity, computer security numerous times in our daily life. But how many of us paid attention...

Recent Comments