There is reason to be optimistic about the future of cyber security. In today’s world, there is always a “weak link” in the chain that hackers can exploit. In a blockchain world, there are no longer any weak links and every action taken on the blockchain is part of a completely verifiable and trackable digital ledger.
How can businesses walk the tightrope between using critical customer data and protecting their privacy? Emerging privacy technologies like blockchain and confidential computing provide an ideal solution.
There is an obvious problem with how we approach cyber security. But blockchain may enable a single marketplace of enterprises, consumers, vendors and geographically-diverse security experts to help revise the hiring model, make cyber security more efficient, and decrease the impact of malicious attacks globally.
The features that make blockchain so attractive to enterprises are also the very features that could lead to headaches like “blockchain privacy poisoning", which Gartner has named as one of the biggest risks facing organizations over the next few years.
It’s no secret that big tech giants hold some of the world’s biggest data repositories. With an unhealthy concentration of market power in the media industry through their exclusive “walled gardens'' of user data, where can the internet go from here?
A permissioned blockchain like Hyperledger Fabric network provides more control over data to participants than public blockchain and data subjects have more command over their personal data.
Technology should provide us with the tools we need to feel in control of our personal data, not the opposite. Is there any technology available that can actually stop the companies from making money out of our data?
Both governments and companies are shepherding the application of blockchain technology across various industries, and of particular interest is how the technology will usher in an era of blockchain contracts. While the blockchain holds promise, there are legal concerns beyond the technological benefits and challenges.
Researchers from MIT believe that even when electronic voting methods are secured by blockchain technology, they are still far too vulnerable to outside attack.