From the course: How Blockchains Will Change Business

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Data ownership: Use your data, don't lose your data

Data ownership: Use your data, don't lose your data

From the course: How Blockchains Will Change Business

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Data ownership: Use your data, don't lose your data

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- We don't have a good way today to let someone use your data without losing ownership or control of it. When you hand it over, you can no longer protect it or dictate how it's used without turning to legal agreements. And those are sure expensive to put in place and enforce. What if we could simultaneously share and protect data? And that protection was by default? Blockchains give us the power to share data with others and still control how it's used. Essentially, blockchains give a business or a person a locker, or a vault, for their data. If you hold the keys, you control how it's used, you grant and revoke access at will sharing only the absolute minimum amount of data with someone else. Let me illustrate how this works. In many countries, when you buy certain items at a grocery store, you're asked by law for a government issued ID and you hand a stranger at the register a lot of personal information: your name,…

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