Blockchain protect personal privacy

1 Feb 2023

In recent years, with the development of big data, artificial intelligence, cloud computing, and mobile Internet, our lives have become more and more dependent on various services provided by Internet companies. Although these services are indispensable to people, what most people do not expect is that their private data are being secretly stolen by these large Internet companies and profit from them.

Web 2.0

For users, data privacy rights are often violated. People are infringed on privacy rights while enjoying various services provided by Internet companies, but often many people are not aware of it for various reasons.

In fact, there is nothing wrong with the use of private data for the benefit of mankind, but the essence of the problem is that most of the ways that Internet companies obtain private data are illegal, more often than not, the data is collected maliciously without the knowledge of the person concerned, Data is collected maliciously, and most people do not have superb technology to judge whether their private data is illegally used or violated, which also leads to their inability to produce evidence that is beneficial to them. This is not for ordinary people. a good thing.

Due to the difficulty of proof, the cost of doing evil for Internet companies is currently quite low , and it is precisely because of this that companies like Facebook will collect user privacy in a grand and illegal manner.

Combining the Web3.0 era of blockchain, the right to privacy will be in your own hands.

We all understand that everyone has the right to process their own private data, and not be forced to surrender their privacy or be used secretly by Internet giants. In web3.0, the abuse of personal privacy data must be terminated. In what way will the abuse of privacy data be terminated?

Blockchain must be the best option.

In recent years, the blockchain industry has developed rapidly, and a large number of decentralized applications are built on the blockchain. At the same time, the development of the chain economy also needs to be further expanded in order to benchmark the traditional financial model. Therefore, privacy-related topics have also attracted the attention of blockchain practitioners.

Blockchain focuses on the idea of ​​decentralization and code as law. More and more people believe that blockchain will be a great tool to solve the abuse of private data, and the blockchain project Oasis Network, which focuses on privacy protection, is born. At the right time, it has won the attention of many people.

Oasis network blockchain technology solves data utilization and privacy protection issues.

There are two main functions implemented by the Oasis blockchain network. The first is the collection and protection of personal privacy data. The second is to ensure that private data is used in various applications and is not leaked.

1. Protection of personal privacy information

The protection of private data is an important direction of the current application of blockchain technology. The simple anonymous blockchain projects such as zcash, dash and other currencies actually mainly realize the concealment of fund transfers, in this way we can prevent our transactions from being tracked . Of course, because Oasis also supports smart contracts, there are more things that can be done, such as personal identification information, etc., which can be protected in the form of blockchain, and only users themselves can access these data. There is a private key to have absolute control over the digital currency in the wallet. If we regard transaction records that need to be hidden as personal private data, the same effect can be achieved.

2. Rationalized application of private data

Since the actual application scenarios are more complicated, private data does not necessarily have to be hidden from the public, and reasonable use also has great uses.

For example, a user’s chain credit actually requires a smart contract to read some of the user’s private data to a certain extent. There is actually no human intervention in this link. Everything is executed using blockchain smart contracts, combined with the application of on-chain credit. In fact, the hidden blockchain privacy technology can do many things, such as combining DEFI to realize the application in borrowing and other scenarios.

Another application scenario is to implement paid applications for private data. Blockchain developers can use existing smart contract programming languages ​​to create DAPPs for private data utilization. This method is different from the previous illegal methods of obtaining user privacy data by giants, that is, whether Internet giants are willing to actively pay for users’ private data, such as using smart contract access authorization, or using token incentives to contribute their own part. The right to use private data is finally gathered together to process the corresponding data and provide it to the data research company, and the user finally gets rewards.

simple example :

If we want to have a task of investigating the salary level of the company’s employees, we can use the Oasis blockchain network to write a private smart contract. This smart contract obtains the salary information of most people in the company when collecting salary information. Authorize, and then execute the privacy smart contract. The final result of the contract execution is that the average salary of the employees in the company is greater than 8,000 dollar and less than 9,000 dollar , so there is no other way to know whether the specific salary of a person in the company team is greater than 9,000 or Less than 8000, but the applicant can evaluate the company's quality based on this salary level .

So who can know the salary of a specific person? In fact, apart from everyone knowing their own salary, there is no way to know the salary of other people. Even the creator of this smart contract can't know it, so that you can protect sensitive data like salary and contribute your own data. After being used as a sample of salary survey, employees can also get token rewards on the chain, so that a win-win situation can be achieved.

to sum up

The blockchain privacy protection function is actually widely used in application scenarios. There will be corresponding solutions in combination with smart contracts on the blockchain. In addition, the development of cross-chain technology will actually make the future blockchain privacy technology more numerous. a public chain can be applied, and this will form the new era of Web 3.0 important functions, and ultimately achieve the purpose of privacy protection.

Write & Read to Earn with BULB

Learn More

Enjoy this blog? Subscribe to amro


No comments yet.
Most relevant comments are displayed, so some may have been filtered out.