Dr Carissa Véliz has article published in ‘Harvard Business Review’

Dr Carissa VelizDr Carissa Véliz has had an article on privacy and the future of banking published in the Harvard Business Review. In the article, Dr Véliz argues that our personal data is in urgent need of guardianship, and suggests that banks may be the best suited institutions to take on that role.

Harvard Business Review is published by Harvard Business Publishing, a subsidiary of Harvard University. Articles published in the review cover a wide range of topics relating to a variety of industries, management functions, and locations. The focus is predominantly on areas such as leadership, organisational change, negotiation, strategy, operations, marketing, finance, and management.

In the article, Dr Véliz says, ‘the ability to collect and exploit consumers’ personal data has long been a source of competitive advantage in the digital economy. It is their control and use of this data that has enabled the likes of Google, Amazon, Alibaba, and Facebook to dominate online markets. But consumers are growing increasingly concerned about the vulnerability that comes with surrendering data’.

Dr Véliz goes on to consider the business opportunity that is presented by the need for companies to ensure that consumers’ digitized data is protected. After considering other possibilities, she mentions ‘Solid', a project led by Sir Tim Berners-Lee, inventor of the World Wide Web and Research Student (Research Fellow) at Christ Church, involving storing users’ personal data in virtual ‘pods’ that work like secure USBs.

She concludes by suggesting that ‘banks’ business model and their experience give them a comparative advantage over other businesses to become our personal data guardians’, thanks to being at the forefront of security methods, having experience in safeguarding data and privacy, and their tendency to have more local and personal relationships with their clients.

You can read the article in full on the Harvard Business Review website.

Dr Carissa Véliz joined Christ Church as a Postdoctoral Research Fellow in 2017, after gaining a DPhil in Philosophy from Christ Church. Prior to this, she gained a BA in Philosophy at the Universidad de Salamanca, and an MA in Philosophy from the City University of New York Graduate Center. Her research interests include political philosophy, practical ethics, and digital ethics, especially privacy.