What Can Blockchain Do For Data Privacy?

by Akash Gaurav, CEO, Auxledger    Aug 20, 2018

blockchain

The world is now illuminated by the term internet and so is the development inside each floor of technology. Continuing with the major syntax of this internet revolution that is Blockchain, how do you think that you are going to take a risk on your data and privacy? Why Blockchain is so secure and is a must for each of your data encounter? So it’s Opaque now. But volatile industry struggle in adjusting to a contemporary digital era has tiled the approach. Those who use their broad knowledge of computer networks to feat and force others for economic or personal advance are the one to lean on. The wide range of technology brings advances and freedom with it but also brings its breakdowns in its corners.

Blockchain can aid suggestively reduce the superfluity of cybersecurity runs in the market. The world is creating myriads of solutions where blockchain technology sufficing the malfunctions into no consideration counter. This is for the data to be safe and secure where this platform gives freedom to trust the technology. It brought a clarity to the security in the same dimension we are living in.

Calling it a base for all data records blockchain keeps an integration amount of security to emancipate the privacy of one’s records. Meek logins and centralized IT substructure are also some of the major susceptibilities that banks generally go through. The disposition of blockchains permits validation of operators and devices deprived of password protection; the decentralisation of the network supports in creating consensus amid different parties for authentication through blockchain-based SSL certificates. The whole distributed and decentralized ledger system it holding is setting an antiquity with integral network system minimizing fraudulent flow inside the network.

There are countries like UK, Japan, Estonia and Russia which has realised the potential of Blockchain in Cyber security and data privacy. Advancements in Blockchain technology brought by Auxledger and Enigma are helping decentralise computation growing more secure and enabling newer smart contracts which are privately preserved. These ongoing innovations are ensuring that the privacy capabilities offered by Blockchain technology is improved and the adoption barrier for Enterprises can be reduced significantly.

Another breakthrough set by the newer advancements in blockchain technology is it reduced the vulnerability related to the privacy of asset transfer and secured the overall communication in order to halt data leak and cyberespionages. It’s end to end encryption of data foils up the sensitive data leakage which is known as metadata. In blockchain based platforms metadata cast-offed for communications or transactions is dispersed in the distributed ledger and hence cannot be unruffled at one central point. Hereby, blockchain came out as most disruptive technologies and aid the errors and cyber security issues in financial and technical world as well. Even with the smart tech architecture it is not only resolving the cybersecurity disputes but providing end to end encryption to the banking forums and institutions.