It solves the problem of having to give the company enough information for them to steal your identity in order to do business with them. That isn't a power com

It solves the problem of having to give the company enough information for them to steal your identity in order to do business with them. That isn't a power companies should have over you, and those who do should be extremely heavily regulated to ensure their data protection is top level quality. This way it isn't a big deal if small businesses leak data, since they don't have the important parts, so they don't need to be regulated that hard.