How Can Leverage Blockchain and AI for Data Privacy and Cybersecurity?

For a decade, the incidents of security breaches have been continuously increasing. Most cases belong to users’ personal security data and information. It highlights the need for better security and privacy modules in our system to prevent such cases.?

The inception of cybersecurity advances and new legislation control the situation on a partial level. However, advancements combined with blockchain and artificial intelligence have the potential to usher in a new era of efficient, automated, transparent, cost-effective, and future-proofed privacy and security applications. Here we discuss how these technologies can have a measurable impact on the subject of cybersecurity and how you can get the most from them.

Background

There is an exponential rise in the amount of data as the digital presence of enterprises is enhanced. Businesses are now offering hyper-customizable services personalized to the users’ identities. Centralized organizations such as Amazon, Google, and Facebook are sought after by cybercriminals to do breaches. Recently, a breach happened with Equifax, which affected more than 140 million customers.?

Together, blockchain and artificial intelligence are able to help with the security and protection of personal data. They can enable users to know what, when, where, and how much of their personal information they share with others.?

The Significance of Data Privacy

Data such as biometrics, social security numbers, card information, browsing history, addresses, email identities, and more are the most usable names in the tech space. Preserving this sort of personally identifiable information is the responsibility of every organization to prevent breaches.?

Data and Privacy Breaches

Information security is the branch of cybersecurity that reveals how to store, manage, arrange, and secure information. Owing to advancements in software and technologies, data breaches are on the rise. The risk-based report of 2020 on data breaches suggests a count of 37 billion data violations in 2020, which is 140% more than in 2019.?

The above data consists of incidents of unauthorized access by malicious actors to gather confidential information such as credit and debit card details and identity details. Subsequent events will happen, such as fraud, theft, and illegal use of personal information.?

The more data is gathered, the more attacks occur. That is why we need to consider data security.?

Privacy Regulations

A new regulation recently launched in the global market is the General Data Protection Regulation (GDPR). It started in the EU in 2016, and in the USA it is the California Consumer Privacy Act in 2019. The regulations offer privileges to users like

• Deny the sale of personal data.
• Access their personal data at any time.
• Request the organization to delete their personal data.?
• Get privacy privileges without discrimination.
• Aware of what personal data of yours is collected and stored.
• Get full access to where your data is sold and to whom.?

With these privacy laws, various organizations can safeguard the privacy laws of their users. Implementing the systems and regulations might be a challenging task for some enterprises due to a lack of technology. However, blockchain and artificial intelligence may make compliance convenient and simple.

Blockchain and Privacy

One of the most important advantages of blockchain technology is that it enables organizations to leverage personal data in more secure ways than previous ones. It is of significant importance for blockchain architects to give full-fledged flexibility to users to read and write transactions in a shared ledger, and how the data can be transferred, authenticated, and stored. Take a short glimpse of how private data can be protected in blockchain applications.

Decentralized Identities

In the blockchain-based platform, users have full access to their accounts, especially their personal data. There are no incidents of data breaches occurring because personal data can be stored on private databases and blockchain-based pointers. Such solutions may be helpful in applications including licensing, healthcare, and insurance.?

Zero-Knowledge Proofs

Zero-knowledge proofs enable data access while protecting individuals' privacy and data control. They can be used to mathematically validate the truth of a statement or condition without revealing any data.

Artificial Intelligence and Privacy

Data privacy brings us artificial intelligence in this field. It works suitably in different disciplines, such as facial and speech recognition, medical diagnosis, financial modeling, and more. It can fully control and verify how much data can be shared with organizations and stakeholders. Salient ways are given below on how AI enhances security and privacy as follows.

• Easily identify malicious viruses and attacks on the system.
• Give flexibility to users as to where and how much data they share with stakeholders.
• It creates automatic insights and extracts large datasets.
• Conveniently store and manage personal information without leakage.

Key Takeaways

From the above information, we can conclude that the Inclusion of blockchain and artificial intelligence together can speed up data security and privacy exponentially. Blockchain prevents unauthorized access, whereas artificial intelligence inhibits the malicious virus' entrance. Blockchain offers full-fledged control of their data to the users. While artificial intelligence offers help in decision making and gives access to users’ hands.

If you need any help with the inclusion of technologies such as Blockchain and Artificial Intelligence, Applore Technologies is not far away. Connect with us, we feel happy to assist you at every point.?