At present this data is smeared across thousands of different locations in hundreds of formats ranging from paper forms at your chiropractor's office to digital records captured by the supermarkets you frequent to the often erroneous credit profiles kept about you in the vast data warehouses of companies such as Experian and Equifax. It is stored by the IRS, lost by TJX and analyzed by anyone who can get their hands on it.

This data might be high grade (for example, your tax returns and medical records are in-depth, detailed and specific), or low grade (such as your searches and your click stream as you navigate Amazon). But whatever the source or the quality, that data has value and it is guaranteed that someone, somewhere, considers even the smallest part of it valuable and worth exploiting.

Just consider the various customer loyalty programs that supermarkets run. You enter your ID and the detailed knowledge about what and when you buy gives them an in-depth, detailed and very personal profile of you. They know what kind of plonk you drink and even your favorite brand of hemorrhoid cream. It doesn't get much more personal than that.

Now, if you truly owned any of your data then you'd be able to control who gets access to it, what parts and how much of it they could see, how long they could retain it and what exactly they could do with it. That is, of course, exactly what the commercial world doesn't want and, for a number of profound reasons, not what I suspect the majority of people want either.

Let's first consider what it would mean to own your own data. Owning anything is a responsibility and in the case of any data, this is a task that requires a lot of sophistication and knowledge if you're going to do it effectively and reliably.