How Confident Are You to Share Your Personal Identity Over The Internet

📌 The last two years have seen dramatic changes in our lives, not least in digital consumption patterns. Digital trends have accelerated far more than they might have if we weren't in the middle of a pandemic.

Everything has moved online - the way we work, the way we shop, and even the way we seek entertainment and recreation. In 2021, we registered and used more digital platforms and products than ever before.

But flip a coin to see how many times we've sent our personal information, payment information and even physical identities, and you begin to understand why, along with the surge in digital consumerism, we've also seen a staggering spike in cybercrime.

💰 A record year for cybercrime

According to recent research, 2021 was a record year for cyberattacks, data breaches, and hacks, with a 600% increase in cybersecurity. The year 2021 saw a 17% jump in data breaches, with 280 million people affected.

One blockchain-based protocol focused on identity and identity verification, PhotoChromic, in a recent survey of 1,348 key opinion leaders found out how concerned people were about sharing their personal data if it could be hacked, stolen or misused. It also found out how safe people feel about sharing their personal information (PII) online.

✅ The results showed that: 

🟢 89% of people are concerned or very concerned that sensitive personal information could be hacked or compromised in the future.

🟢 Only 9% of people feel safe or very safe with their personal information online.

🟢 In the event of data breaches, etc., only 22% of people are confident or very confident that they know who to contact, how to recover their data and/or how to minimize the impact of a data breach on their personal, digital security.

Fortunately, this is where blockchain comes into its own, offering utilities that can protect and secure users' personal data. Many online platforms and protocols themselves do not require users to ever send their ID or personal information, only their wallet address. Blockchain works by distributing data across a huge network of nodes around the world. In contrast, companies store user data on a single server, giving hackers a single passageway through which to gain control of personal data.

🛸 A final word.

As digital trends gain momentum, so do those who seek to capitalize on this jump in potential victims. Blockchain provides users with identity management and security protocols to keep their personal data and information safe.