Online life takes a huge part in our daily routines. How to protect your personal data? How to stay anonymous on the web? Is 2020 a year of privacy? These questions are raised by BTCMEX today!
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Early cryptocurrency adopters talked about online privacy and anonymity back in the 80s. Find out about the Sypherpunks’ movement on BTCMEX Blog. With the technological development questions of digital trust and personal data protection became even more vital today.
The early Digital Economy failed to protect our privacy and well-being. Internet is full of stories of breaches, hacks and privacy violations. In recent years, the issue of privacy has come to dominate tech news headlines. Activists all over the world are raising awareness of the value of personal data and digital information.
Many agree that blockchain - a secure distributed ledger introduced with the first notable cryptocurrency Bitcoin - is a key to increasing digital trust. Blockchain technology has seen a number of successful implementations beyond digital currencies. Could personal privacy protection with blockchain be the thing to push the tech into the mainstream? Read more about the use of Blockchain in industries.
Both enterprises and personal web users are turning heads towards blockchain to improve the privacy and data collection issues. Through blockchain's decentralized nature and elimination of the need for a central authority, user privacy is increased. Moreover, Zero-knowledge proof system - a consensus decision-making protocol, reveals nothing about a transaction except the fact that it’s valid. It was developed to maintain the blockchain's nature of decentralization while decreasing a network’s transparency. In other words, using this type of protocol prevents revealing senders’ and receivers’ addresses. A zero-knowledge proof is already successfully implemented to protect medical data.
Apart from public blockchains - networks that are available for everybody to download - there are also private blockchains. Sometimes called permissioned blockchains they ensure an extra layer of privacy because they require a granted node access to participate.
Crypto projects are already helping to secure users’ privacy from online tracking. What is important to understand today - personal data has a huge economic value. The online information is being tracked because it is worth something. In the modern world, decentralized technologies like blockchain hold the most personal privacy protection potential.
Please note, that the article is a part of BTCMEX Blog, the views and opinions expressed here are the contributing author’s only, and do not necessarily represent the views of the company.
Julia Bulakh for BTCMEX