Providing Data Privacy with a Self-Sovereign Identity Model
Today, news broke that the medicare numbers for all Australian's are available for sale on the 'darkweb' and it seems that part of the Government's solution is to digitise the medical records of all Australians. Interesting! Just about every institution these days is defacto in the privacy data protection business, whether they like it or not. The risk of a hack is huge and the cost for mitigating that risk is very significant. The problem is that these institutions have put themselves the centre of protecting and storing private data. The blockchain provides the opportunity, by use of a 'self-sovereign' identity concept, to flip this model around and put individuals at the centre of their own data. Institutions can still access what they need, but they do not have to store or keep the data on a centralised computer. In this video from consensus 2017 experts in this field set out what the future of data privacy may look like and it is very encouraging.