Data ownership is about access and privacy. So, a user having the power to share their data in different ways. Maybe they share only with a group of trusted friends via encrypted messages. Maybe they share the keys to that information with a little more. Maybe they would rather not risk the encrypted data go to certain people, so they localize how that data is released. The information being referenced here is rather general -> data where personal access control is desirable. There are some use cases where certain assets may be completely desirable not to be transparent, yet utilize encryption, security, and decentralization to make certain guarantees on that data.

I'm fine with Bitcoin transactions being public and global as that transparency enhances the product and allows anyone to validate the public state of all Bitcoin which is important for being money, but other things outside the money domain perhaps not so much.