Cryptocurrencies For Incentivizing And Securing Data

Freedom of data and data privacy are two critical but competing elements that define the today’s technology landscape. Data is extremely vital this digital age and is the fuel to the insights and analytics that are crucial in the operation and prosperity of companies.
On the other hand, the privacy of this data is a big deal to consumers. The government constantly takes action where data privacy is breached. Regulations spanning from all over the globe, from Europe to the US are impacting the way organizations manage and deal with data. They are now reflecting consumer perspective on the same.But it has not been smooth. The collection of data on platforms for the generation the insights and analytics make the organizations sitting ducks for data thieves. You will be shocked at the alarming rate in which data is being breached.2019 alone has seen over 25,000 records been compromised, costing companies over $3.9 million. It makes the current condition untenable for companies and consumers. Which begs an overhaul in the way data is collected, analyzed and stored. The overhaul is not just essential, but vital if at all we are to deal with big data.