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Decentralizing Privacy: Using Blockchain To Protect Personal Data

Decentralizing Privacy: Using Blockchain To Protect Personal Data

Decentralizing Privacy: Using Blockchain to Protect Personal Data The recent increase in reported incidents of surveillance and security breaches compromising users privacy call into question the current model, in which third-parties collect and control massive amounts of personal data. Bitcoin has demonstrated in the financial space that trusted, auditable computing is possible using a decentralized network of peers accompanied by a public ledger. In this paper, we describe a decentralized personal data management system that ensures users own and control their data. We implement a protocol that turns a blockchain into an automated access-control manager that does not require trust in a third party. Unlike Bitcoin, transactions in our system are not strictly financial they are used to carry instructions, such as storing, querying and sharing data. Finally, we discuss possible future extensions to blockchains that could harness them into a well-rounded solution for trusted computing problems in society. Continue reading >>

How Blockchain Can Protect Our Personal Data From Hackers - Marketwatch

How Blockchain Can Protect Our Personal Data From Hackers - Marketwatch

The way companies store personal data is broken. The cybersecurity industry has mushroomed in recent years, but the data breaches just keep coming. Almost every day brings news of a new data breach , with millions of records compromised including payment details, passwords, and other information that makes those customers vulnerable to theft and identity fraud. Its bad news for the companies too, as not only do they face huge fines (which are only getting tougher), they also suffer serious reputational damage. These are not small, naive businesses; they are major, often global, brands. They spend millions of dollars on security and yet still find themselves suffering. The best way to avoid a data breach is to not store any data. That sounds obvious, but until now its been virtually impossible. Merchants need user names, passwords, payment details and other personal details to deliver their services. And they usually need to keep hold of that information which means there are or thousands of databases worldwide containing some of your most sensitive personal data. No one would leave a written list of all their personal details at every physical store they go into but online we do it all the time. No wonder the Webs inventor, Tim Berners-Lee, said in March 2017 that Weve lost control of our personal data. Bring on the blockchain. The advent of decentralized blockchains means we now have the opportunity to store, share and pay in a completely new safer way, which puts the user back in control. The existing data security model is clearly dead. Blockchain is the fundamental change we need to protect both consumers information and businesses reputations. A combination of biometric security on your device, and the blockchain principles of private keys controlled solely by the Continue reading >>

Blockchain Startup Can Help Consumers Profit From Their Personal Data

Blockchain Startup Can Help Consumers Profit From Their Personal Data

Blockchain Startup Can Help Consumers Profit From Their Personal Data New crypto-powered marketplace will reward users for their personal data with up to 100% cashback German startup repay.me plans to launch a Blockchain-powered marketplace which will share revenues from personal data with its community. The platform will offer users up to 100% cashback on their purchases. Retailers will be able to sell and advertise their products. Think Amazon ads. In 2014, Dutch student Shawn Buckles auctioned off what he called his digital soul. The highest bid paid him $480. The deal included his emails, calendars, geolocation health records, etc. The news was a reminder of how we manage our personal data online. Companies collect all footprints from interacting with their products, from cookies to interests and likes, selling them to advertisers and marketers. When it comes to profiting, however, the individual consumer is largely left out of the equation. Repay.me wants to change this. It believes that profits from user data should go back to the community. It will launch a utility token, called REME-Coin , to be used as the main currency on the platform. Its ICO is set for Feb. 15, 2018. Customers will be able to use the coins also on partner sites, offline retailers, restaurants etc. Advertising on the marketplace and access to consumer data will sell for coins as well. Every token will provide holders with a certain number of ads on the repay.me platform. The coin issue price is expected to be significantly lower than that of ads on comparable marketplaces. Coins will be backed by user data which the company refers to as the gold of the 21st century. The goal is to create what is considered one of the first tokens with intrinsic value and real growth potential. The platform g Continue reading >>

From Gdpr To Blockchain, Were Getting More Power Over Our Data

From Gdpr To Blockchain, Were Getting More Power Over Our Data

From GDPR to blockchain, were getting more power over our data Get ready for individual bank accounts for your personal data An earlier innovation: safety deposit boxes at Chancery Lane There were significant privacy violations in 2017: DeepMind's controversial data-sharing deal with the NHS ; Facebook's 110 million (98m) fine; Google's 2.4 billion fine; scammers selling personal data. We woke up to the idea that a few big companies, such as Google, Amazon, Facebook, Apple and WeChat, had used our data to become near-monopolistic entities. In 2018, EU regulations such as the General Data Protection Regulation and the Second Payment Services Directive will give consumers new rights and change their power relationships with these companies. And new technology such as private-data accounts will help us acquire ans use data for our own benefit. Private-data accounts are like individual bank accounts, but they contain personal information, not money. Hosted by data stores such as people.io , Cozy.io , digi.me and the Hub of All Things , of which I am the founder and chairman, many will let us legally own our own data, bringing it in and pushing it out as we wish, without our having to identify ourselves. And they will do this automatically or at the touch of a button. Inside these accounts, our data will become our asset, one to which we can give specific access rights in return for services. This will flip today's internet (in which we give up all of this data in return for access to services) on its head. A new generation of apps and websites will arise that use private-data accounts instead of conventional user accounts. Internet applications in 2018 will attach themselves to these, gaining access to a smart data account rich with privately held contextual information su Continue reading >>

Major Blockchain Group Says Europe Should Exempt Bitcoin From New Data Privacy Rule

Major Blockchain Group Says Europe Should Exempt Bitcoin From New Data Privacy Rule

Major blockchain group says Europe should exempt Bitcoin from new data privacy rule Since people can store personal data in blockchains, the technology could fall under the purview of the upcoming European change to privacy law. But blockchain technology may be fundamentally incompatible with Europes new privacy rules, Washington, DC think tank Coin Center said today in a new post . The General Data Protection Regulation (GDPR) will take effect on May 25th this year, more than two years after it was first signed into law. Under the new rule, if an EU citizen requests that their personal data be erased from a companys records, the company will have to obey. But with blockchain, a complete erasure of any stored personal data might not be possible, experts told The Verge. Modifying data on a blockchain is very hard, Oxford Law lecturer Michle Finck told The Verge, If you were to delete or modify data from the blockchain to comply with the GDPRs rights to amendment or the right to be forgotten, you wouldnt just change that piece of data, but the hash of the block containing the data and of all subsequent blocks. Finck added, I think its safe to say that currently, most blockchains are incompatible with the GDPR, especially permissionless blockchains. She said that although many blockchain projects are currently thinking about how to design tech that would be GDPR-compliant, the problem is that there are so many points of tension...way beyond the right [for personal data] to be forgotten. Its the basics of blockchain technology. By their very nature, transactions on a blockchain arent meant to be deleted but to be recorded permanently. It would also be difficult to stop every place transmitting a Bitcoin transaction. This is by design, Andries Van Humbeeck, co-founder and b Continue reading >>

Blockchain Could Help Us Reclaim Control Of Our Personal Data

Blockchain Could Help Us Reclaim Control Of Our Personal Data

Blockchain Could Help Us Reclaim Control of Our Personal Data Its a strange world we live in when large companies such as Experian, Equifax, and TransUnion are able to store huge quantities of our personal data and profit from it in a way that doesnt benefit us. And when those same companies lose our personal data and make us susceptible to identity theft, theres virtually nothing we can do by way of retribution. However, technology may be able to help us wrest back control of our personal data. Encrypted distributed ledgers have big implications for identity systems.They would allow us to keep certified copies of identity documents, biometric test results, health data, or academic and training certificates online, available at all times, yet safe unless you give away your key. At a whole system level, the database is very secure, as each single ledger entry among billions would need to be found and then individually cracked at great expense in time and computing. Using smart, distributed ledgers to prove our identities and store our personal data could shift the power of (and profit from) data management from big, established firms back to individuals. Its a strange world we live in when large companies such as Experian, Equifax, and TransUnion are able to store huge quantities of our personal data and profit from it in a way that doesnt always benefit us. And when those same companies lose our personal data and make us susceptible to identity theft, theres virtually nothing we can do about it. Equifax lost the data of more than 140 million people , and recompense is not forthcoming. Meanwhile, the CEO may be stepping down with a pension worth $18 million . Clearly, the system is broken, and its time to stop and ask ourselves why we continue to rely on a system that d Continue reading >>

How Blockchain Can Revolutionize Personal Data Storage?

How Blockchain Can Revolutionize Personal Data Storage?

You are here: Home Security How Blockchain Can Revolutionize Personal Data Storage? How Blockchain Can Revolutionize Personal Data Storage? Blockchain, the technology underlying the cryptocurrency Bitcoin , is modeled to revolutionize as per the nature of commercial transactions. Bitcoin is a non-governmental and peer-to-peer currency, and it is the first currency of its nature. Bitcoin is famously known as a virtual currency, and its maker is trying to make it equivalent to the currencies issued by the government. Unlike other currencies issued by a central bank, the Bitcoins have no support from governmental institutions. Bitcoins are generated through mining process. The blockchain is not an official currency, but it is a system to clear, settle, track, record and validate the ownership of assets as they are traded. A growing number of institutions and services are shifting their transaction systems to those based on blockchain technology. It is all because of reliability and flexibility the blockchain offers. Nowadays we can observe a leap in popularity of services and platforms, intended to be used for Bitcoin exchange and trading . The Bitcoin blockchain is a popular technology that involves ledges transaction to maintain the network of servers known as nodes. Every node manages a ledger reflecting the possession of assets. The blockchain ledger is disseminated because it is controlled simultaneously on all of the nodes in a network. It is easy to obtain a complete and continuous record of all transactions from its origination. Valid transactions are entered into the blockchain ledger in blocks or group with the help of cryptographic methods to confirm the reliability of all transactions. The transactions are recorded in the blocks to chain all of them in a ledge Continue reading >>

Personal Data Is Worth A Lotheres How Blockchain Can Help You Monetizeit

Personal Data Is Worth A Lotheres How Blockchain Can Help You Monetizeit

The future of search is here! Worlds First Decentralized Search Engine Ecosytem. Blockchain based. Check Desearch.com Personal Data is Worth a Lot Heres How Blockchain can Help You MonetizeIt Personal data is rapidly becoming one of the most valuable things in society. Something that most people didnt even consider just a few decades ago is now a huge part of the way we conduct our day-to-day lives. In simple terms, personal data is the name given to facts and figures about us that are collected to be used or analyzed in some way. When it comes to our online activity, our personal data includes things like our browsing habits, the content we share, our internet history, and much more. This information is extremely valuable to companies, for lots of reasons. Knowing what people are searching for and understanding their desires can help marketing companies to laser-focus their advertising on just the right people. The content you share on Facebook can be used to generate traffic to the site, bringing in more customers and boosting profits for the owners of the network. Every time we use social media, search engines, or allow companies to access our data in any way, were generating something highly useful and valuable. Although our data is worth potentially millions of dollars, we dont get to see any of that money, because we dont own our data. When we post on social media, that content is owned by the network. When we use a search engine, the details of the search are owned by the service provider. Every day, ordinary internet users are providing billions of dollars worth of data to companies for free. Companies use this totally free resource to make business decisions, sell to marketing companies, and draw people onto their websites. Meanwhile, the actual creators of th Continue reading >>

Blockchain And Data Protection Law: When Anonymous Data Becomes Personal

Blockchain And Data Protection Law: When Anonymous Data Becomes Personal

Blockchain and Data Protection Law: When Anonymous Data Becomes Personal December 2017 - Blockchain | Data Protection & Privacy | IT Law | GDPR Blockchain and Data Protection Law: When Anonymous Data Becomes Personal Data processing on a blockchain is widely perceived to be completely anonymous and therefore immune to data protection laws which are applicable only for processing of personal data. However, this perceived immunity is not at all absolute rather, data processing on a blockchain may fall under data protection laws. Lawyers Natalie Eichler and Thorsten Jansen demonstrate some current and future applications of blockchain technology where data protection laws may in fact apply. At first sight, data stored on a blockchain appear to be anonymous, consisting mostly of hashed values and cryptic wallet ID numbers which cannot be directly linked back to the individual to which they relate. As a result, some may assume that, due to the apparent anonymity, there is no room for the application of European data protection laws. Data stored on a blockchain may not be considered anonymous, but as personal data, because the individual person is identifiable. In fact, a closer look at European data protection laws pertaining to the identifiability of an individual person reveals that data stored on a blockchain may not be considered anonymous, but as personal data, because the individual person is identifiable. According to recital 26 of Directive 95/46/EC and recital 26 of the GDPR , when assessing whether an individual person is identifiable, all sources of information and all measures must be considered that are reasonably likely to be used to identify a person. This includes measures and information sources available not only to the person currently processing the data Continue reading >>

Blockchains And Personal Data Protection Regulations Explained

Blockchains And Personal Data Protection Regulations Explained

Blockchains and Personal Data Protection Regulations Explained Apr 26, 2017 at 13:30 UTC|UpdatedApr 26, 2017 at 16:34 UTC Jacek Czarnecki is an attorney at Warsaw-based law firm Wardynski & Partners, where he specializes in areas including fintech, digital currencies and blockchain. In this opinion piece, Czarnecki discusses data protection laws in the EU,outlining in an easy-to-read overview how they present both challenges and opportunities for industry innovators. Not a day goes by whenwe don't hear about a new application for blockchain technology. A cryptographically secure distributed ledger (secured by means of member consensus )is turning out to be the solution for many problems and inefficiencies in the world around us. And this isn't just about technological improvements or the reconstruction of business models: different blockchain use cases will leave a mark on the economy, society and, perhaps, also on politics. Blockchains - especially public ones such as bitcoin or ethereum - break many paradigms, including legal ones. We are thus entering an interesting transition period when successive applications of this technology will encounter legal norms not always adapted to the new reality. One of the more interesting examplesto look at is personal data protection. Legal regulations protecting personal data are of great importance in many areas where blockchains already exist: finance, healthcare, electronic identification systems, etc. And whilethe application of existingdata protection regulations in blockchain technology will cause issues, there are solutions. First things first,why are blockchains a challenge for the protection of personal data? There are three main reasons: Blockchains are decentralized and distributed. It is virtually impossible to identi Continue reading >>

Blockchain Technology Is On A Collision Course With Eu Privacy Law

Blockchain Technology Is On A Collision Course With Eu Privacy Law

Blockchain technology is on a collision course with EU privacy law Those who have heard of "blockchain" technology generally know it as the underpinning of the Bitcoin virtual currency, but there are myriad organizations planning different kinds of applications for it: executing contracts , modernizing land registries , even providing new systems for identity management . There's one huge problem on the horizon, though: European privacy law. The bloc's General Data Protection law, which will come into effect in a few months' time, says people must be able to demand that their personal data is rectified or deleted under many circumstances. A blockchain is essentially a growing, shared record of past activity that's distributed across many computers, and the whole point is that this chain of transactions (or other fragments of information) is in practice unchangeable this is what ensures the reliability of the information stored in the blockchain. For blockchain projects that involve the storage of personal data, these two facts do not mix well. And with sanctions for flouting the GDPR including fines of up to 20 million or 4 percent of global revenues, many businesses may find the ultra-buzzy blockchain trend a lot less palatable than they first thought. "[The GDPR] is agnostic about which specific technology is used for the processing, but it introduces a mandatory obligation for data controllers to apply the principle of 'data protection by design'," said Jan Philipp Albrecht, the member of the European Parliament who shepherded the GDPR through the legislative process. "This means for example that the data subject's rights can be easily exercised, including the right to deletion of data when it is no longer needed. "This is where blockchain applications will run into Continue reading >>

Blockchain For Sensitive And Personal Data

Blockchain For Sensitive And Personal Data

Blockchain for sensitive and personal data Returning control over our personal data to us through the Blockchain explored by experts from Swiss Re and IBM Research Restoring customer control, trust and transparency over the use of sensitivepersonal data. Easing the burden of data ownership for the insurance industry. A joint initiative by Swiss Re & the IBM Research Lab We hate getting insurance. Its such an impossibly convoluted process. With all the personal data we put out there on the net, why cant we have a smart app on the mobile that tells us what we need and lets us buy to cover the same way we buy train tickets or books on Amazon? As an insurance IT professional, I know that dealing with personal sensitive data can be a colossal headache. As an industry, we put a lot into gathering and harmonising such things as policy and claims data and as soon as we have it, we fret over protecting it from ourselves in accordance with ethical principles and multivariate, fast-evolving legislative frameworks. Tap into other sources like fitness trackers or buying behaviour to drive Insurance made Simple? Challenging. Social media? Unthinkable. Or is it? Lets look at the underlying problem. It all comes down to trust and transparency. Data modellers know that when a model causes inordinate pain it is usually because it does not represent reality quite right. So, where is the flaw in how we deal with personal sensitive data? Well, insurers act as guardians of individuals personal sensitive data. And they shouldnt. The power to decide on who can see my personal data should be with me. Is that possible? Traditionally, the answer has always been no. There simply wasnt a way to ask consumers in real time, nor a way to analyse large amounts of highly distributed data. So, we have b Continue reading >>

Blockchain Data Protection Law | Deloitte Legal Deutschland

Blockchain Data Protection Law | Deloitte Legal Deutschland

IV. Potential conflicts with data protection law Blockchain applications are currently amongst the most discussed topics when it comes to the precursors of the fourth industrial revolution. Within the global Deloitte network, the Deloitte Blockchain Institute was founded in order to analyze and consult on the technical and economic potentials and risks of blockchain applications for sector-specific industries (e.g. telecommunications or media ). The following article deals with blockchain applications from the perspective of data protection law, in particular the Regulation (EU) 2016/679 of the European Parliament and of the Council of 27 April 2016 (General Data Protection Regulation - "GDPR"), which will enter into force in May 2018. In addition to an approximation to the term blockchain (cf. section I.), the main question addressed by this article is, to what extent this technology will impact on those areas of life that have been traditionally regulated by analogue law and institutions (cf. section II.). Finally, the potential of blockchain is briefly addressed as an instrument of data protection (cf. section III.) and explains the extent to which data protection law may create certain boundaries to potential applications of blockchain technology (cf. section IV.). As the term already suggests, one of the essential characteristics of a blockchain is the concatenation of blocks. More specifically, such blocks are comprised of a certain number of cumulative records, the contents of which are interconnected in such manner that each subsequent block contains a cryptographic image of the previous block. Thus it can be ensured that data cannot be manipulated unrecognized after the respective data has been entered into a block, completed and "attached" to a subsequent blo Continue reading >>

Wibson Lets Consumers Take Back Control Of Their Personal Information Through Blockchain-powered Data Marketplace

Wibson Lets Consumers Take Back Control Of Their Personal Information Through Blockchain-powered Data Marketplace

Wibson Lets Consumers Take Back Control of Their Personal Information Through Blockchain-Powered Data Marketplace Individuals will be able to safely monetize their data through the Wibson platform launching during Mobile World Congress 2018 BARCELONA, Spain, Feb. 23, 2018 /PRNewswire/ --Wibson is pleased to announce the launch of its blockchain-based, decentralized data marketplace that provides individuals a way to securely sell validated personal information in a trusted environment. The Wibson prototype mobile app will be the first step in supporting consumers' ability to monetize their data with direct offers from data buyers. Highlighted by an exclusive event for industry leaders and partners from the consumer data and blockchain worlds, the Wibson app launch will coincide with Mobile World Congress in Barcelona (Feb. 26th March 1st). Through the release of the Wibson iOS and Android apps, individuals can connect to data sources, such as Facebook and their mobile device location, monitor offers from data buyers, and sell their personal data. "In today's economy, data equals money. Unfortunately, that exchange hasn't made its way into consumer wallets until now," says Wibson.org founder and CEO Mat Travizano. "Wibson completely changes this dynamic by restoring ownership over our personal information. Now consumers can access their data, and can choose to profit from these transactions how and when they want." Wibson is built on a set of core principles designed to protect individuals. Because the marketplace is inherently transparent, users have complete insight into the intended use of their data, including if it is anonymized, who the buyer is and the price they will be paid. Investors in Wibson include Telefonica, Kenetic Capital, and DG Capital, among many oth Continue reading >>

How The Blockchain Will Secure Your Online Identity

How The Blockchain Will Secure Your Online Identity

How The Blockchain Will Secure Your Online Identity Opinions expressed by Forbes Contributors are their own. Have you ever been the victim of identity theft? It is an ugly experience. Calling up credit card companies to change all your cards and dispute charges. Resetting passwords to all of your applications. Always worrying whether someone may call up your cell phone provider with your leaked information to commit a SIM porting hack, meaning they would have access to all of your text messages. Once someone has access to your texts this is the gateway to getting into many online services, even if you were being diligent and using two factor authentication. We increasingly rely on the internet for communicating with friends or family (e.g. Yahoo hack ), staying in contact with professional associates (e.g. Linkedin hack ), banking (e.g. JPMorgan hack ), and even confirming credit card purchases for face to face transactions (e.g. Oracle hack ). Our user names, passwords, and personal information are being stored on centralized corporate servers, many of which remain ripe for the picking, despite the attention on this class of problems over the last several years. Once your personally identifying information genie is loose, it's extraordinarily difficult to put it back in the bottle. Ideally the only risk you should have when it comes to managing your digital identity is whether or not your personal systems have been compromised, instead of worrying about every corporation you've ever dealt with in the past. In the offline world, you update your proof of identity every few years, receiving a drivers license, ID card, or maybe a passport if you travel internationally. When you go to a club, they check your age on your ID. When purchasing an Amtrak ticket you prove who yo Continue reading >>

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