All of your data is stored in an encrypted wallet/ID via decentralized storage solutions. Only you have access to your data and control over your data via a private key like a crypto wallet.
I highly suggest you guys checkout Decentr. They are building blockchain platform that allows individuals to have ownership over their personal data to exchange and leverage for economic benefits in a decentralized and secure way. I think it's false to say we can't collect data in a secure way therefore stop the data economy. We should be seeking to empower individuals with the ownership of their own data to create a true data economy.