Binex News

Consumers Will Have Full Control Of Personal Data On Blockchain

It’s become commonplace occurrence now that we hear about major data breaches or news about companies  sharing highly confidential personal information with several third parties without the knowledge of the consumer or without seeking his/her permission. This is where the company Tide Foundation wants to change this scenario by providing the consumers with entire control of their personal data on the blockchain as they can now manage their own encryption keys.

This startup Tide Foundation wants to create an open marketplace  which has been announced by the company .

“The overall concept is that when a consumer engages with a business and provides that business with personally identifiable information, the Tide Protocol encrypts that information and provides the consumer with the only key to decrypt it,” Tide co-founder Issac Elnekave expressed in an interview to  TechCrunch.

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