[2018-02-23] How the blockchain will help fight theft of confidential info

Decentralisation against hackers: how the blockchain will help fight theft of confidential information:
https://bitcoingarden.org/decentralisation-hackers-blockchain-will-help-fight-theft-confidential-information/

The blockchain is often seen as a technology that is capable of liberating many sectors from middlemen, decreasing the operating costs and improving transparency and security in the relations between the market participants. But would the technology of decentralised ledger help to overcome one of the greatest challenges of the modern world, the secure storage of personal data?

The year 2017 beat the records in leakage of personal data as a result of cyberattacks and vulnerabilities in the storage systems. According to Gemalto, a company that works in the field of cyber security, 1.9 billion records were compromised in the first half of 2017, more than during the whole year 2016 (1.37 billion). Approximately 10.4 million records leak to the Internet daily. According to the Russian company InfoWatch, the figure is much higher – 7.78 billion records in the first half of 2017.

One of the greatest thefts of last years was the hacker attack against Uber. In October 2016, the cyber criminals managed to steal the data of 50 million Uber users and 7 million Uber drivers. Names, email addresses, mobile phone numbers, driving permit numbers were stolen. According to some users, their accounts were hacked, and they received invoices for journeys they had never made. Back then, the media reported that Uber had to pay $100,000 to a hacker in order to retrieve the personal data of its users.

Every minute, gigabytes of information are generated in the world. The data volume is growing with such a tremendous pace that the companies outsource the storage of information to other services increasingly often. The most popular of these services are cloud storages. Amazon, Microsoft, IBM and Google became leaders in this field, controlling 60% of the whole cloud storage market (Infrastructure-as-a-Service, IaaS). The cloud storage is the quickest growing segment of all the cloud services. In 2017, the cloud market storage, according to preliminary assessments, grew 36.8% to reach $34.6 billion, and by 2020 it will reach $71.6 billion....

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