Blockchain Technology is Changing Records and Privacy Security
There are all sorts of records that should be out of public glare when it comes to an individual, a family, or a corporation. These records might come to mind immediately. For some people, they might feel as though their financial records are extremely private. for others, their own assets and net worth are their personal business and no one else’s. This might be paramount to their privacy, and that would be a fair point.
Of course, there are other people that might have more skeletons in their closet, and the fact that they have been arrested in the past is embarrassing to them. While on some level these records can be accessible and in certain databases; to these people, they might wish that their criminal records were more private. Of course, this is a controversial topic, and many employers might feel as though a background check is an absolute, and that this certification is very relevant when it comes to hires.
Records and Privacy
We all know that there can be disputes that involve businesses and individuals, where these records must be accessed on some level. However, there is one type of record that many believe should always remain private: medical records. Medical records are arguably the most private records that you have. They involve your body, your health, and information about your life condition that could potentially be used against you, unethically.
There are laws in place to prevent employers from discriminating against employees based on their condition, as well, which is why the data needs to be protected even more. There are millions of people that are affected by identity theft every year. This occurs in all parts of the world, and credit card theft causes the loss of billions of dollars annually.
However, believe it or not, medical records are hacked, too. They often might even be combined and used as “identity kits”, and it’s easy to see how knowing the medical condition of a certain high-profile CEO or politician could prove to be extremely valuable, and as leverage when it comes to other crimes, such as blackmail or extortion.
Big Plus of Blockchain
The big plus with blockchains is that layers of access can be pre-set to ensure that no one without requisite credentials can have access to it.
Blockchain technology would definitely make it harder to “hack” these medical records, because of the immutability, transparency, and decentralization/encryption of these records. This is essential, considering how big of a sector that healthcare is. Consider this: the United States spends roughly 20% of its GDP on healthcare.
Shouldn’t there be steps taken to actually ensure that these records are safe? We know, more than ever, that even the largest companies in the world, whether it’s Yahoo, Target, or Hilton hotels, can be targeted, and hacked. Data simply isn’t always safe, given the current structure. Blockchain technology could not only improve this security, but at the very least, provide information that shows when records have been tampered with.