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Blockchains May Not Solve the Internet’s Privacy Issue

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People are frequently surprised to learn that whatever they believed was anonymized and consolidated information sharing is not quite as secure as they believe. Even when the premise is correct, the outcomes are frequently not. In huge data sets, a cellphone might not have been linked to an identity personally. However, people can still use details about occupations and medical services, as well as other data sets. They can use this to reference personal interests and primary locales. As a consequence, researchers may identify an individual from among these massive sets of data and even deduce a few of their particular plans and operations.

In recent developments, many blockchain-based firms have come up with ideas of a privacy-focused ecosystem where people can retain their information. However, we should keep in mind the various obstacles these firms have to face. Though venture capitalists are excited about this new prospect, it does not look very promising in the long run.

To begin with, individual data has very little to no value. The value of data skyrockets when it is consolidated, aggregated, and monetized. It is only possible with huge datasets, comprising data from millions of people. Companies fight for these datasets of millions of people, not individual information.

In this context, privacy is set to be a luxury option. It is very difficult to envision that blockchain-based technologies will change it. All endeavors need capital, and information is the most valuable capital of our era. Let’s see

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