Nowadays, your home Internet network connects more networks and devices than Arpanet in the early 1970s. Left are the days when the Internet connections that made up the WWW (World Wide Web) might be outlined on a piece of paper. With the spread of the Internet and the increase in the number of interconnected devices to millions and billions, the amount of information produced has also increased.
A report by IDC discovered that nearly 90% of all data in the world had been created in the past two years only. In 2018 alone, 33 zettabytes were created (one zettabyte corresponds to one trillion GBs). By 2025, we will create 175 zettabytes a year and have an additional 15 billion more devices connected online, mostly thanks to the Internet of Things.
Privacy and Data Ownership Concern
Data, it is often said, is like oil and serves as a lubricant for the web companies’ economy. If this analogy is correct, we are far from reaching top data. We're running out of fossil oil, but the demand and supply of data show no signs of declining. Our omnipresence may be responsible for why we have become so used to give out our personal data to various companies. The claim that you are not concerned with the right to confidentiality because you have nothing to hide is no diverse than saying that you are not interested in freedom of expression.
If our card details are stolen, we cancel them and command the bank a new one. After filtering out our password, we shrug our shoulders and generate a stronger one. This unintended attitude towards the loss of a source is invisible in every way.
There is a privacy concern by selling personal data to third parties. Additionally, the so-called free services such as search engines continue to capture personal data, which can be later used for personalized content and their platform monetization.
Much can be done to prevent a subset of Internet users who have sufficient knowledge and concern to protect their online privacy to prevent their data from falling into the wrong hands. It has been understood that blockchain growing popularity over a decade has led to data protection-related innovations in a period of renewed debate about data privacy.
The Argument for Digital Privacy
As the struggle for digital privacy intensifies, crypto protocols become a new battleground where the right to anonymity is won and lost for 40 years.
To what extent does the business world align conventional data structures with an accelerated trend towards data protection? One of the areas where this dilemma arises is encrypted enterprise blockchains and some of Crypto-powered privacy protection technologies.
The team behind сyber is making efforts to develop the protocol to provide permission-less, open, and general-purpose search engines delivering more power and control to the users. The aim is to manage your own privacy and data protection and ownership.
Team of cyber states: “the scalability of the proposed implementation is sufficient to index all self-authenticated data that exist today and can serve it to millions of agents of the Great Web. The blockchain is managed by a superintelligence, which functions under the Tendermint consensus algorithm with a standard governance module. Though the system provides the necessary utility to offer an alternative for a conventional search engine, it is not limited just to this use case. The system is extendable for numerous applications and makes it possible to design economically rational, self-owned robots, that can autonomously understand objects around them.”
This method lets users safeguard their communication networks with cryptographic privacy. It prevents snoopers and government agents from reading the content of the communicated information in search engines. The technique provides a degree of privacy for any sensitive material contained within the digital package.
The possibility of a compliant, data protection-protected blockchain could have not only the support of the supervisory authorities but also the large companies, which many see as the key to the global introduction of blockchain technology.
A Growing Platform
Data protection is at risk, and blockchain-based technologies can be the answer not only to limit the decline in privacy but also to serve as a formidable protective power. Different blockchain protocols allow different levels of anonymity, confidentiality, and data protection.
There are different types of open, decentralized blockchain solutions that allow anonymity and trust, as multiple blockchain-based applications and cryptocurrencies already used prove with high confidentiality. However, there is a careful and intricate balance between data protection, transparency, regulation, and adoption.
The various report shows the cryptocurrency network continues to advance, showing persistent progress this year. 2019 has also perceived a new development emerges as speculators have confidence in that the cryptocurrency ecology is undergoing an influx of regulatory procedures and institutional interest.
Cryptocurrency users should learn about the possibilities and limits of blockchain scrutiny and use appropriate strategies. They should decrease their need for data-hungry web browsers and social media platforms in favor of data protection-friendly alternatives. There is no anonymity in times of social recognition, facial recognition, and in-depth checking of packages.
The combination of data protection technologies and blockchain can not only protect digital identity for consumers, but the technology union also offers many advantages for searching the Internet, from financial credits, and the protection of medical data to supply chain management and electronic reconciliation. As blockchain transactions are more and more commonplace, from individuals to businesses, we need to make sure that personal data and wealth data are protected in the more significant blockchain and crypto industry.