The personal information of many individuals is held by large internet companies and organizations.

Many giant web business establishments possess personal data collected from millions of their users all over the world. There must be some benefits and drawbacks of this situation, but I believe the flaws of it will outweigh the advantages. On the one hand, life will become more convenient if the number of internet-based firms managing pieces of individual information increasing. This is because people will not need to bring their physical identification or credit cards, which sometimes causes a huge problem when lost. In fact, multiple businesses, banks, in particular, have started to offer digital credit cards, and the feedback from their clients has been very positive as the possibility of losing it is significantly low. Also, powerful security strategies can be applied to protect the personal data, which is more reliable than the action individual can take. On the other hand, the concern about the leak of personal details and identity theft has been growing. Most companies based on the internet try their utmost to build a strong firewall, but it is also true that hackers' techniques are progressing. As a result, a single day does not pass without news reporting that individuals' vital information, such as bank account details, social registration numbers and so on. This is something that should be worried because such data is traded in the black market and used for international fraud, and the victims have no clue until the police approach to them. In conclusion, there are both upsides and downsides of people's details being handled by plenty of online companies. Therefore, it seems to me that we lose more than we gain from personal data collection done by independent business organisations due to a higher chance of leakage and involvement in the rime.