Why do you think crypto is built on blockchain? I mean BTC could have been any other digital currency. But no – Satoshi specifically used this tech to roll out the first cryptocurrency. Plus, a variety of government agencies, which rely on sensitive information, are moving their infrastructure on the blockchain. This is because the tech offers optimum security and data privacy.
It has become a mainstream concern in the modern era. Let it be an ordinary startup or an intelligence agency, hackers know how to penetrate in traditional systems. One of the primary reasons is that we use centralized storage schemes.
Let’s say company ‘A’ has an on-site data center. This situation makes it really handy for a hacker to get into the firewall and compromise the only point of failure.
However, while using a blockchain network, the information is widely spread in a cryptographic environment. It does not only make it impossible to hack the information, but a hacker would need immense financial resources to sabotage the network.
Why is it important to care about data privacy and security?
Have you ever thought what happens when you surf the internet? Well, let me clue you in. There are algorithms running at the backend of popular websites which track every single move. Some go a step further and track your activity even if you haven’t opened their tab. This is serious. What’s more thrilling is that this HUGE data is stored at centralized locations (relatively). Therefore, if a cybercriminal wants to gain access to (even a specific) record, your privacy could be compromised.
It is worth noticing that in the 21st century, information is the key to establishing your monopoly on the internet. Over the years, when blockchain was not so mainstream, cybercriminals have enjoyed looting the centralized gold mines. It is important that we realize the potential and move our outdated technologies to this robust one for providing a safe environment to the users.