How Blockchain Can Enhance Data Security and Privacy
We are in the digital world whereby every of our activities surroun the digital space and so there is a need for us to continually interact with personal data and informations daily. In fact as the year goes by, the more it looks it is growing much more and that is why there is a need for us to pay attention to security and privacy of those data. Quite a pity that nowadays the data on the digital space is not really been fully secured because it is looking like the data majorly personal data are been subjected to the cyber attacks.
The fact that a lot of personal data is been subjected to cyber attacks is resulting to huge financial losses for the users. This is where the Blockchain technology actually comes into picture because it actually helps to settle the challenges faced with the security and privacy of personal data and information. Today I will be going deeper to actually understand how the Blockchain is helping to enhance the security of data in all sectors of the world.
Let me start by first helping us to actually understand in detail what is Blockchain technology. Blockchain technology as many of us is aware of is that which helps to store and record lot of transactions that is carried out on computers and it is done in a way that data recorded can not be altered. The fact that Blockchain technology is Decentralised in nature make it easy because it is not limited to what is called the central authority and this helps to avoid fraud.
Talking about the key features of Blockchain technology that helps to enhance the data security. The first I will start by talking about of course is the Decentralisation nature. Like I said earlier, the fact that it is Decentralised helps it to eliminate those centralised authority. This really goes a long way to enhance data security.
The second feature that the Blockchain technology possesses which makes it to stand out is what I called the immutability. What do I mean by immutability. Immutability also contribute for data security because it works in a way that the moment any data is recorded or stored on the Blockchain, it can not be altered. By making the data to be immutable, it makes it difficult for those data to be manipulated or hacked thereby preventing fraud and manipulation of those data.
The last feature I will like to talk about is the Transparency. The fact that the Blockchain technology operates on the public ledger goes a long way to actually make all transactions to be seen by users. Trust me, this transparency of those transactions will help those data to be monitored and create this accountability system. With that every data can be traced to their source no matter what makes it difficult for it to be subjected to hack and fraud also.