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There are numerous Internet users who are willing to share personal information on the web. This may be a positive development, as long as websites have measures to prevent personal identity theft. There will be an E-commerce boom if more people choose to provide personal information online. Visiting a shop personally has become a luxury in the modern world, where overworking has become the norm in the workplace. This can be o
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vercome by simplifying the payment process for online shoppers as they enter credit card information beforehand and permit the bank to deduct the payment directly. This can boost the revenue of online retailers as people place an order faster and do it more frequently. Internet-based retailing will become a massive job creator and a key contributor of tax revenue for the economy of a country. The trend towards providing person
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al information online also shows that a growing number of people have seen the potential of tapping into social media and Internet-based businesses. Information such as bank accounts and passport numbers is submitted to social networking websites and online trading platforms to verify their identity, which is valued in the digital age, as people are aware that fake accounts are widespread in the cyber world. Platforms can cond
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uct background check of applicants, and each person can register for one account only, thereby building the public trust in the credit of each account. Some professionals, including freelance writers and scholars, are happy to provide personal information as the first step towards running a popular social media account and building an online reputation. On the other hand, there is a risk that people can suffer a financial loss
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if their information is used by cyber criminals. The astounding pace of technological progress has been a double-edge sword as hackers can use advanced tools to discover weak spots of bank systems and mainstream social networking websites. Even the systems of Internet giants like Facebook can be hacked by criminals, and without the consent of account holders, personal information is used for malicious purposes. For example, c
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yber criminals can make unauthorized withdrawals and transfers when they gain access to account information. Victims can lose money if their personal information falls into wrong hands, and their careers or personal reputation can be damaged if they fail to handle overdraft. In conclusion, I agree that there are financial gains of sharing personal information on the Internet, as long as people are aware that their personal inf
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ormation can be misused.
