We are increasingly aware of the importance of our personal data. Primarily due to numerous data leaks and the fact of numerous sales of personal information on the black market. Yes, huge corporations like Apple or Samsung prioritize the preservation of sensitive user data. However, they find it difficult to store and use them at the same time. That is why blockchain technology is the perfect tool for solving the online privacy problem.
There are constant news in the media about the problem of personal privacy, which is represented by constant data leaks and the general technological illiteracy of the world population. In the Pew study, nearly 80% of respondents said they are very concerned about how companies are using the data they collect. In MState's study, 24% of respondents stopped using certain apps due to privacy concerns.
Today, an increasing number of people are actively protecting their data by refusing the services of companies and applications that use personal data. This is why Apple, Lyft, Dropbox, and Adobe have started taking a consumer-centric approach to data privacy. Consumers' understanding that their personal data is a commodity is increasing.
Free TON is a prime example of a secure blockchain. This blockchain has some of the best features compared to Ethereum, Binance Smart Chain, and Stellar. Data security directly depends on the use of blockchain. Each of the above blockchains provides a different level of data protection. Ethereum is the most popular blockchain, but Free TON may soon overtake it. This blockchain is just over a year old, and its capabilities exceed those of all other blockchains.
Privacy and large companies
Now is the time to start thinking about data privacy in the long term. For example, for the emergence of regulations governing the safety of children's toys, several decades and incidents have passed. Likewise, consensus is formed for online products and services. Consumers already know not to shop on unsecured sites. It is quite possible that soon they will begin to refuse services of companies and sites that cannot guarantee the confidentiality of data. Confidentiality will be for the information age what product safety was for the industrial age.
Companies should offer consumers better privacy protection and data control. This will be one of the first steps to ensure that users begin to fully trust the companies. In addition, companies need to be honest with users about how user data is stored and used. For example, Apple has begun labeling apps in its App Store to provide users with information about how apps use their personal data.
Complete privacy is the future we are moving towards.
Blockchain and privacy
A blockchain such as Free TON can provide not only confidentiality, but also transparency of all activities within the network. Blockchain is not a 100% solution to data privacy issues. However, along with other information technologies, the situation may change. Technically speaking, blockchain is the foundation for solving the privacy problem, on top of which other technologies will be used. It is possible to create an ecosystem that will allow users to control access to their data, potentially having the opportunity to sell it.
Modern technologies make it possible to separate, protect, or manage customer data from other data. They are difficult to port and manage, but blockchain technology can help with this very problem.
Very often, users have to transfer complete control over their information to applications in order to use it. There are projects that create secure enclaves within applications so that consumers can easily manage them and companies can use them with the appropriate permissions.
The combination of Blockchain and Secure Computing allows applications to use their data without disclosing it to the application owner, and secondly, to track their use in an immutable public ledger (blockchain). Blockchain and Secure Computing allow us to use our data on the services we love without giving up control of the data or disclosing our personal information.
Free TON is a revolutionary blockchain with a throughput of 100,000 transactions per second. It provides instant transactions with TON Crystal cryptocurrency, uses secure and reliable Proof-of-Stake consensus, and smart contracts written in different programming languages. Thanks to scalability through sharding, the blockchain provides 100,000 transactions per second.
As consumer sentiment shifts towards proactively protecting data, privacy efforts will become more formidable. As a result, consumers will have more granular control over their data. In the case of B2B, data that was previously too confidential for other purposes can be used by businesses. This confidential data will also be available to anyone who needs to cooperate.