Computing to store privacy on blockchains can prevent violations by Cointelegraph

XIX. In the twentieth century, the barons of American industries prevailed by resorting to tangible resources such as oil and steel. Today, corporate titans want to achieve a greater height of wealth by collecting consumer data. But now, as then, the benefits of accumulating these resources come with an important business risk: spills.

Like oil spills, data leaks – whether they occur accidentally or as a result of hacker interference – can cause significant economic, legal and political harm to companies and consumers. Consider the impact on Facebook (NASDAQ 🙂 earlier this year. In April, the phone numbers, first and last names, email addresses and locations of 533 million users were shared in a hacking forum so that consumers and governments could also shout out.