Blockchain Security is Going to Make its Case for Protecting Your Personal Data Soon
Blockchain’s Impact On The Security Of Personal Data
The internet is huge, and it continues to grow at an immense rate every single day. As such, it contains colossal quantities of personal data belonging to its users. However, the issue lies in the fact that most of this data is being managed by third parties — centralized companies which own and control servers to which this data is being uploaded.
Of course, most of it is being stored by major corporate giants such as Google, Facebook, and alike. Just like these companies, the servers are centralized as well, meaning that they can be controlled and accessed by a single entity. This also leaves them vulnerable to hacking attacks and data breaches.
The last few years have seen countless such attacks, with millions of people around the world being affected as a result. Facebook hacks alone affected hundreds of millions of people, not to mention data leaks such as the one revolving the Cambridge Analytica.
Because of these events, the public finally started taking their privacy seriously, as the uncomfortable truths regarding how fragile their online security is, finally came to light. Some chose to delete their accounts in order to prevent suffering from data breaches in the future, while others started using online privacy tools. However, while this is one potential solution, it is not a permanent one, and it also results in users having to deny themselves access to platforms such as Facebook just for the purpose of remaining safe.
In some instances, such solutions are not even possible, as hacks of British Airways or Marriott proved. These are cases where users had no way of protecting themselves, and they depended on these companies handling the security. As we now know, their methods have proven to be ineffective, particularly Marriott, which had suffered a long-term data leak that spanned over four years, and has affected nearly half a billion of its customers.
How Can Blockchain Help?
Blockchain technology can help in several different ways, and there is a number of reasons why ‘going blockchain’ could immediately improve the safekeeping of personal data. The first thing to note is that data stored on blockchain cannot be altered, manipulated, or even deleted. It is completely immutable.
Next, there are several different levels of access to stored information, meaning that the owner of data can decide who can access their personal information, as well as what information can be accessed by this third party.
In addition, blockchain technology can provide a much more secure system which can be used for handling sensitive data. This is of great importance, as massive hacking attacks are now happening almost on a weekly basis. The demand for greater security is growing by the day as a result, and blockchain-based companies are becoming more and more successful as a result.
This is one of the main reasons why established data-handling organizations should consider going blockchain sooner, rather than later. If they don’t — they are risking losing their clients, and eventually going out of business.
The New Age Brings New Currency — Your Data
Social media websites such as Facebook, Twitter, Instagram, as well as many others, have brought hundreds of millions of people together. With all of these people in the same spot, their data is becoming more and more easy to acquire. As such, data has become quite a valuable currency among hackers, but also among companies, particularly those who handle it carelessly.
Individuals using social networks often have their data gathered and sold without them even knowing about it, much less providing consent. This type of treatment was unknown for a long while, but now, people are becoming increasingly aware of it, and they do not approve.
Because of it, many have started migrating to decentralized versions of social networks, abandoning Facebook and moving to platforms such as Steemit, Minds, or Memo. Platforms like these do not only protect users’ private information, but they also allow them to make a profit by creating and posting their own content for the enjoyment of others.
As of yet, none of these platforms has reached mass adoption that traditional social media has, and it is likely that it will take a long time for them to reach that level. It is also possible that none of them will ever get there. However, sooner or later, one or more platforms will appear, and they will manage to do it, and it is firmly believed that that is the future of social media.
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In rounding off this piece: Blockchain Security is Going to Make its Case for Protecting Your Personal Data Soon. Here’re most prominent words:
- Blockchain Technology
- Hacking Attacks
- Social Networks