INSUBCONTINENT EXCLUSIVE:
The legislation has been anticipated for years, but its implementation is welcome now more than ever, in the wake of data breaches like
those carried out on Equifax or Facebook.GDPR is empowering users where their data is concerned
As well as requiring companies to beef up their security and handling of any user information, it allows individuals to request the purging
of their information from company databases
It imposes steep fines on the companies that fail to adhere to strict standards.One of the downsides that critics have been quick to point
out is the capacity of smaller businesses to implement the changes necessitated by GDPR
Whilst large companies will find it easy to invest in updating their policies and tweaking their infrastructure to reflect the changes in
the end for such businesses).I believe blockchain technology can help, not only for smaller businesses, but for large ones as well
with the zero knowledge storage of the blockchain
and centralised aggregations of data in a system that allows individuals to remain sovereign over their own information has gleaned a great
deal of interest and around the technology.The result will be widespread disruption across sectors
Whilst the current state of securing data is best analogised as racing to build taller and thicker walls, the new one would forego this
need, as there is nothing for the walls to protect
Users would truly own their own data with zero-knowledge storage to secure personal information, and could choose to interact with their
information, including highly sensitive card details, physical addresses, phone numbers, and names
Hackers seeking lucrative targets need look no further than databases brimming with thousands of these collections, which can be used for
With a platform that harnesses the power of decentralisation to effectuate payments, consumers and merchants could interact in a trustless
The user would not need to worry about their data being vulnerable, as it never leaves their possession, and the merchant can focus their
efforts and channel funding into other areas of the business, as emphasis on securing customer information is no longer required.This is
Distributed ledgers unlock a wealth of potential applications in everything from supply chain management to genomics
Adding transparency, cryptographically-assured security and new incentive models to enterprises of today, blockchain technology could vastly
alter the current architecture of businesses across the board.Alastair Johnson is founder and CEO of Nuggets.oj2VZAXGAcBQjzMGoTUCR5.jpg#
