Could blockchain be the answer to the privacy crisis we are facing? Let’s take a look at how personal privacy protection with blockchain could be the solution.
. Privacy is one’s ability to determine what type of information is collected about them. It’s the ability to decide that a web site won’t collect data on the types of products we browse, the types of songs we listen to, or the times of day we like to shop. Protection is how well the data is secured once it is has already been gathered. The first part, privacy, is a right of the user. The second is the responsibility of the data gatherer.
Case in point: because blockchain is immutable, it means that a user will never have the option to go back and “erase” certain parts of their personal history if they wish to remove it from the blockchain itself. This single issue already defies the EU’s General Data Protection Regulation, which says that all users have thei.e. the fact that I shopped for a certain book title on Amazon should not exist in the data ether forever. But with blockchain, it would .
In today’s marketplace, data is value. Every single search we perform on Google, every item we buy online, every time we use our valued customer ID at the grocery store—all of this information is being tracked because it is worth something to someone. The Internet of Things, and the network of billions of connected devices we’ll all be sharing, means that we’ll soon be providing exponentially more information about ourselves to anyone willing to collect it.
Blockchain represents the ability to empower users to decide which data they are willing to share, and with whom. No, they won’t be able to delete data collected about their visit to a certain porn site. But they could turn off access to that node of the blockchain to ensure that no one else knows the visit ever happened.
Here’s the thing: there’s tremendous potential for personal privacy and data protection with blockchain; I'm a believer. However, we are years—and years—out from having the
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