With the recent popularity of database and network businesses like 23 and Me and Ancestry, is it possible to monetize your Biometric data yourself?
If people are curious enough to pay $200 to view detailed data about how they compare to others, what if you offered that same type of data to people who are curious to know who they are similar to?
After taking a Biology 101 Class and learning about the basics of research, cells, and science, I was inspired to develop an application to monetize Biometric data for good.
I began to realize that majority of Biometric data is currently monetized by medical professionals.
Now companies like Apple, Google, Samsung, Fitbit, Weight watchers, Akins, 23 and Me, and Ancestry have made Biometric Data big Private company business. These companies don’t create the data; They receive the data from the public. They have figured out how to charge the public to collect Biometric Data using wearable technology or DNA samples.
I began to also wonder why there is not a public web portal available to view your Biometric data? Only people with private healthcare insurance plans are able to log into an app or website to view test updates from medical professionals. Why can’t I or anyone create a public Biometric Database?
So, that is when I did some brainstorming and purchased the domain name BIOMETRICPORTAL.com.
I believe everyone, poor or rich should have the first opportunity to monetize their personal Biometric Data.
Every single human being is unique and the traits that make up who you are can not be found anywhere else in the world.
Everyone, even identical twins are unique because no two people, feel the same, think alike or like the same things.
If you were able to own a “monetizable” personal Biometric data page where people could subscribe to view updates on your personal health, would it be possible for you to earn a living by just existing?
With the help of research, brainstorming, and development, and implementation, I plan to create a new platform that monetizes Biometric Data.
Top comments (4)
This is crucial: monetizing any form of biometric data in healthcare applications calls for very significant ethical and privacy considerations. The potential of gaining full insights into personal health is enormous, but so will be user consent and data security as the real take away from such innovations. Innovators must learn to walk along the fine line that matches innovation with protection of sensitive health information.
Monetizing biometric data in healthcare apps is very exciting but, at the same time, poses serious concerns in the area of privacy and security of personal health data. So, transparency and user consent must be a key consideration for any strategy. There needs to be a balancing act between innovation and protection of personal health information.
So when you say "monetize your biometrics", are you selling your data to companies for their private endeavors, or is this for a centralized health card-type system?
The Biometric Portal could be developed to offer multiple service benefits like your vision of a centralized health card type system.
My vision would be simpler. You would be selling your actual Biometric data to individuals or companies that are curious or need people for case studies, clinical trials, research papers for medical journals, etc. Your Biometric data could have a royalty or value. Using data only, this service would operate as a software as a service with minimal overhead cost. The web hosting cost, database cost, and basic business expenses would be the only necessary overhead.
A centralized health card system could require money transfer licensing and banking regulations as well as insurance and Federal reporting. The fees and liabilities associated with issuing credit for health care could have risks that out weight the reward due to international money laundering laws and medical insurance kick back issues. The idea of a centralized health card is definitely feasible if the card was backed by an existing financial institution such as web-bank, Visa, Paypal, Libra, or Bitcoin.
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