RE: Crypo News....1 Feb 2023 18:21
WHY DATA PRIVACY IS IMPORTANT ... IN THE NEW WORLD !
WHAT’S GOING ON HERE?
Although most people aren’t aware of it, Bitcoin transactions and blockchain actually solve the problems surrounding privacy, confidentiality, and anonymity.
WHAT DOES THAT MEAN?
Much time has been wasted in Bitcoin development on ways to make transactions anonymous because people often confuse anonymity with privacy and confidentiality.
In reality, complete anonymity is neither desirable nor achievable. For honest transactions, there should be ways to verify who you’re transacting with and even keep records if there’s a need to do so.
WHY SHOULD I CARE?
Information security’s "CIA" principle is that information should be confidential, have integrity, and be available — and Bitcoin provides the means to achieve these principles.
Parties can share keys proving transactors’ identities, or any other information relevant to their business, without making that information public or accessible to anyone who doesn’t need it.
That said, we don’t need to fear the Big Data and Digital Everything world as long as data can be handled properly.
Bitcoin, after all, handles data properly. FX for one, does not.