Data privacy is perhaps the defining issue of modern debates about internet regulation. Never before have people had so much information about all aspects of their personal lives online. The battle for control over this data in terms of revenue generation and other aspects is enormously complicated. This is because the various interests literally compete for this interest in the future.
It goes without saying that despite some efforts and guarantees from companies to which you provide your data, privacy violations are the order of the day. In today's age of internet hacking, shady parties somehow find opportunities to stay ahead of corporate security mechanisms. Sometimes companies are simply negligent or sell data to third parties as a lucrative model in modern marketing.
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Similarly, users need accurate and secure storage services for their personal information. This is not always the case with the available available cloud servers. Needless to say that hackers can infiltrate storage servers in the cloud, such as in the case of celebrities such as Jennifer Lawrence whose nude images were leaked online. If this can happen to the high and the powerful, what is there to protect the average Joe online?
Blockchain as a solution for the protection of personal data
This technology is versatile and efficient. This allows users to independently save personal data and fully determine how it is transferred to someone else. Moreover, the blockchain is reliable, which means that it eliminates dependence on almighty centralized entities. In general, the cryptographic encryption blockchain makes a transparent, unchanging, and decentralized solution.
As such, blockchain technology has enormous benefits for all stakeholders. Users can use their computer space to store data in the network. Users also have the option of choosing who will see their personal information and how much of it is accessible.
In other words, you have more control over generating income with your data. Blockchain technology therefore eliminates the sale of personal data without the owners' knowledge.
These options are also useful for government agencies that need to release digital documents. Blockchain technology can standardize and speed up the publishing, updating or revocation of documents.
Moreover, it can facilitate KYC processes for suppliers of goods and services. Instead of delivering a stream of documents, supply chain suppliers can easily use blockchain to streamline the process by using blockchain to store a complete set of required standardized digital documents. Accordingly, the verification of partners and customers becomes faster, making KYC processing immediate.
Implementing such concise solutions
The use of a digital identification facilitates the involvement on the blockchain. In a scenario where digital identification is used everywhere, the decentralized flow returns to the people, securing a future with safer and more confidential processing of customer data. In addition, people can share the benefits of generating income with their data. In the future this is definitely the right way. In the age of big data, blockchain solutions are essential to bring true privacy compliance to the internet.
Bockchain startups are currently using the technology, allowing the community to create a personal data ecosystem where users can share and sell their data whenever they see fit. This is the essence of distributed computing.
In a nutshell
Data protection using blockchain technology is not only useful, but also a necessity. Decentralized storage can be an excellent antidote to this age of mass privacy breaches. In addition, users can actually take advantage of the commercial potential of data that generates revenue. Gaining power over how and to whom a user can share or sell their own data is a clincher, ensuring a future in which individuals manage their private data better and where everyone can participate.
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Posted via Steemleo