Blockchain: Data Protection And Privacy

Published date29 December 2021
Subject MatterPrivacy, Technology, Privacy Protection, Fin Tech
Law FirmONTIER LLP
AuthorMr Derek Stinson

Many industries, such as the Government and cloud storage services have already started to use Blockchain to confidently secure their data and warn off potential threats. Blockchain has significant potential to change data transactions in the future, requiring more permissions to gain access to said data - but how?

The decentralised nature of blockchain ensures that no data loss will occur if a computer or node is compromised − in other words, there is no single point of failure. This is achieved by breaking data into small fragments and distributing them across a network of nodes, creating a digital ledger of transactions with no central control point.

Furthermore, activities and data on the blockchain are encrypted and it is possible to prove that data has not been tampered with. Users can assess file...

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