Does Blockchain Solve Growing Privacy Issues?
The right to privacy is considered to be a basic human right in all parts of the world. That privacy extends to individuals’ right to control their own personal data.
Regulations governing how personal data are gathered and managed are rapidly being developed. The GDPR has been enforced since 2018 in the EU, and the CPRA in California since 2020.
Blockchain allows entities to protect the privacy of individuals. Common databases, which typically store and manage in a central location by a service provider, are prone to security vulnerabilities.
In contrast, blockchain-based platforms users are anonymous and there is no centralized database to store their data and as a result the data can be transferred with a high level of privacy.
With respect to which of your personal data are you concerned about data leakage?
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