Network effects are a well understood phenomenon. The value or utility a node derives from a network increases as more nodes join the network. However, the main beneficiary of a network’s network effects is the owner of the data of the network. In centralised networks such as Facebook or Twitter, the overwhelmingly vast majority of the value created by the network accrues to the centre for this reason. The centralised owner owns all the data in the network, thereby solely profiting from all t...
