We live in a dynamic and ever-changing world, with data breaches increasing and regulators looking to tackle the issue with strict restrictions on data management. One such regulation that has had a widespread impact is the General Data Protection Regulation (GDPR) brought in by the EU. It is having an effect all over the globe, not just in the EU countries. Essentially, if you’re processing data that has even a single EU citizen involved, then you must conform to the regulation. These tight and strict regulations have been brought in to combat the ever-growing number of data breaches which have an impact on individuals and companies. In a digital age, where previously there was little to no regulation, privacy was an afterthought. Now, privacy is beginning to reshape the internet. So, it might just be that blockchain technology, the innovation powering the world of cryptocurrencies, holds the key to preventing data breaches. Major Data Breaches and Blockchain: Use Cases The case of 500 million compromised records You might be surprised to learn that around 5 billion records were compromised in 2018. According to the study conducted by RBS, the most vulnerable sector is the business sector – it accounts for…
