Could Blockchain Be the Answer to Fortified Data Security?

With the advent of new digital technology like AI and the internet of things, more of our private and sensitive information is being stored online than ever before. Data security is therefore a growing priority for everyone — especially since hackers launch attacks every 39 seconds, which affects one in three Americans a year, the London Economic reports. Blockchain technology can offer a more secure alternative to centralized data storage, keeping you safe and in control of your own data.

What’s wrong with current data storage?

Traditional cloud storage uploads your data in a cloud, where it’s saved in the service provider’s data center. To access your data, your computer sends a request to the data center, which then sends the data. The distance between you and the data center, however, can result in a slow delivery — which is frustrating when you’re expecting fast and instant access to information. Moreover, even though traditional cloud data storage is designed to be safe and secure, it still isn’t immune to compromising data. The service providers themselves design their own privacy policies to enable them to legally access and share your personal data. Big companies are also able to access and search non-encrypted files.

How blockchain technology helps data security

Decentralized blockchain technology is a much more secure system than conventional methods of data storage. Traditional cloud storage is a highly centralized system, leaving it vulnerable to possible hacks. If the service provider is attacked, the entire storage system can be compromised. Alternatively, decentralized storage distributes data across an extensive network of nodes — a process termed sharding. If one of the nodes is attacked, the rest will still be left functioning healthily, causing minimal damage. The lack of central authority makes the system fairer and more secure.

Protecting your data

Ensuring computer and communications security in this day and age is an indispensable step. Blockchain technology encrypts your computer data, which makes it unreadable without a private key. The process of sharding also makes it impossible for anyone else to access the information in its entirety as it’s widely distributed across an extensive network of nodes. However, it’s also important to backup your data on multiple secure locations (like on a hard drive or a USB flash drive). Storing and encrypting data on USB flash drives will keep your data protected in case of computer failure. And since it’s encrypted, your information will be unreadable if it gets lost or stolen. Encryption protects your data with a key or translation card — it’s therefore also important you store the password safely to help further protect your information.

Although still in its infancy, we can expect to see blockchain technology revolutionize data security in the near future. On the other hand, centralized cloud service providers may experience a drop in profit and become overpriced or even obsolete over time. Ultimately, blockchain technology is both secure and reliable, as well as transparent — which makes it appealing to companies and individuals alike.