The past few months have seen a handful of data scandals emerge that have finally demonstrated to Brits the intrinsic value that their data holds, and the risks that come with giving it away so…
Bonacio posits “with privacy becoming an increasing concern, but users reluctant to sacrifice the ease of use that Internet freedom allows them, blockchain offers a solution to reconcile data protection with simplicity without the need for regulation.”
I know that blockchain is a frequent source of ridicule, but I do see a future in which users could have one page on the Internet that they use as their virtual CV, and this is fueled by a distributed, headless ledger system. I just don’t have the time, expertise, or coding chops to make this happen. If you do…send me a note. 🙂
Until recently, we have given our data away because we either didn’t realise we were doing so, or because we perceive it to be a small price to pay for an easy transaction. Data that holds value for all sorts of companies can be collected from any manner of online interactions; from a baking video you liked on Facebook, to the tube stop that you tap in at every morning with your contactless card.
It is clearly time for a shift in the way we view our data, and crucially, the way we secure it. Blockchain technology provides a solution that safeguards data without sacrificing any of the functionality that a free and open Internet provides. Blockchain is essentially a vast, distributed, ledger where data is stored across a web of different devices, rather than in one centralised place that makes it vulnerable to hacking. Most essentially, blockchain relies on sophisticated cryptography to ensure that all the data it stores is safely encrypted.
Candidates can then apply for jobs with a CV that is trusted and credible but; moreover, they are safe in the knowledge that their data is securely held. They can use their own biometric data to share the data they want, when they want, and they can employ smart contracts to dictate how long their data is accessible to the people they’ve shared it with, such as recruiters or potential employers.