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There are 10 distinct meanings of privacy.
Protecting Reputation
You’ve heard of money management, right? Well, there’s also reputation management. There’s a difference between having facts about a person and then making judgments based on those facts. Often, judgments are skewered, and the result is a soured reputation.
Showing Respect
We must respect one’s desire to keep personal data about themselves personal. That’s why it’s called personal data. It’s not so much that revealing one’s private information would do little, if any, harm. It’s the principle of respect that’s the bigger picture.
Trust
Trust is vital in any kind of relationship, from personal to commercial to professional. When trust is broken in one relationship, this could cause a domino effect into other kinds of relationships.
Social Boundaries
We all need a sanctuary from people’s interest in us. When boundaries are crossed, relationships can be tarnished. Nobody really wants everyone to know everything about them, or vice versa.
Freedom to speak freely
We’re all free to think whatever we want without fear of repercussion, but turning those thoughts into speech is what can create problems—both real and perceived.
The Second Chance
Thank goodness that once we get our foot stuck in the railroad track, we can yank it out and start over. Having privacy promotes the second chance, the ability to make changes.
Control
You’ll be hard-pressed to come up with a transaction you can complete in public or online without forking over your personal data. Minus cold cash transactions, just about every move we make requires some revealing of personal information. And the more that your data is out there, the more likely someone can use it to control you.
Freedom of Political Association
Due to privacy, we can associate with political activities, and nobody ever has to know whom we voted for for a political office.
What others think of You is none of your Business
Privacy means never feeling you must explain or validate yourself to those near or far.
This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author.
Sergiy Fitsak Managing Director, Fintech Expert at Softjourn
14 August
Oleksandr Strozhemin Co-founder and CEO at Trinetix
13 August
Elaine Mullan Head of Marketing and Business Development at Corlytics
12 August
Abhinav Paliwal CEO at PayNet Systems- A Neo Banking Software Platform
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