The arrival of the internet has made the users capable of creating their online identity through various social networking websites, multi-player gaming websites, virtual communities and e-commerce websites. Therefore, information about the personal lives of more and more people are now easily available through the internet on various digital platforms.
The amount of user-generated data will increase significantly as some other technologies like 5G, AI or artificial intelligence and Internet of Things or IoT, which are associated with the internet, emerges. As per a recent research, the global data sphere will reach an overwhelming 163 trillion GB or 163 Zettabytes by the end of 2025.
Along with the increasing database comes the incidents of cyber breaches as well as the misuse of the information of the end users. The blockchain is blamed for disrupting the ownership of the user information.
The online identity of a user doesn’t consist of the username and password anymore. The digital identity of a person revolves around his online presence, shopping history or profiles in different social media platforms. However, sometimes users don’t have any control over the data that they share and some businesses use the information without the knowledge or consent of the user.
Though the use of blockchain has been criticized by many people, it can be the used to put an end to the misuse of information and users can be in control of the data they share online. Blockchain technology is till now being used in cryptocurrency.
Users can enjoy their self-sovereign individuality and they can share their personal information with only whom they want to with the help of blockchain technology. However, if people start using this technology, advertising or content agencies that use user information will face huge problems.
Despite the fact that there will be some obstacles in managing the personal data, the change brought by blockchain will surely change the way user data is being used presently. Blockchain can truly bring a huge revolution and stop the misuse of millions of users’ information only if the technology is utilised effectively.