When we authorize the processing of our personal data on the Internet, we are effectively authorizing service providers, such as banks or credit cards, to access our data to authorize a payment. We return to the simple concept of a centralized system, when there is a third party that must authorize the operation, in this case a transaction, unfortunately our data may not be adequately protected or in any case are always processed by a third party who could make mistakes. in the processing, or be fraudulent and treat our data in a bad way. It is for this system that our personal data, our spending habits or even the parameters of our health, have become commodities on which we began to make money without our knowledge. And who are the protagonists of these activities? Of course, large companies and multinationals such as Facebook, Amazon or Alphabet (Google) which up to now have not always treated our personal data in a transparent and correct manner, gaining and treating them only for their commercial and lucristic purposes.
What if we used bitcoin to make a money transfer over the internet? Would our privacy be protected in any way? The answer is YES!
At the basis of the introduction of bitcoin in 2009 there is precisely the desire to make it a digital currency that however protects users' personal data or their privacy. In fact, unlike other means of payment, bitcoin allows you to maintain anonymity, as bitcoin works without the need to process the personal data or other sensitive information of its users, because they are simply identified through an alphanumeric string thanks to the use of advanced military-derived encryption techniques. The great innovation brought by Bitcoin therefore lies in the possibility of making payments without identifying oneself.
That's not all. Thanks to the adoption of the Blockchain for the management of personal data, being a safe, reliable, immutable and above all decentralized technology, i.e. it does not need to centralize the power of validation or decision in a single subject, the danger that has now become concrete would be eliminated. The use of our personal data on the Internet solely and only for commercial and profit-making purposes by large companies or multinationals. In fact, today our personal data on the Internet are managed in a totally centralized way by large players who make their use more prone to their commercial objectives.
Bitcoin, internet and privacy. Do they make a perfect match? the answer for me is YES.
