Rewarded for sharing your data? Sign me up!
Companies now starting to pay users for their data, in efforts to be more ethical. Large Bluetooth security flaw detected proving potentially harmful to millions. Blockchain’s future looking bright as privacy-preserving technology booms. Canadian federal elections being ‘watched’ for their history of ‘watching’ public.
Rewarded for sharing your data? Sign me up!
Drop Technologies has secured USD$44 million in investments towards growing a technology-based alternative towards traditional customer loyalty programs. With over three million users signed up already, as well as 300 brands on its platform, such as Expedia and Postmates, the company is headed in the right direction.
Given that Facebook and other tech giants are monetizing data without user permission, getting paid for it doesn’t seem like a bad idea after all. “I’m a Facebook user and an Instagram user, and these guys are just monetizing my data left and right, without much transparency,” said Onsi Sawiris, a managing partner at New York’s HOF Capital.” At least if I’m signing up for Drop, I know that if they’re using my data I will get something in return, and it’s very clear” (Source).
This alternative to rewards programs basically tracks your spending with all of their 300+ brands, and lets you earn points that you can spend at certain companies such as Starbucks of Uber Eats. If it’s an alternative to credit card rewards, it will be beneficial to consumers looking for extra savings on their purchases. So don’t drop it till you try it!
Bluetooth proving to be a potential data breach vulnerability
Researchers have discovered a flaw that leaves millions of Bluetooth users vulnerable to data breaches. This flaw enables attackers to interfere while two users are trying to connect without being detected, as long as they’re within a certain range. From music to conversations, to data entered through a Bluetooth device, anything could be at risk. “Upon checking more than 14 Bluetooth chips from popular manufacturers such as Qualcomm, Apple, and Intel, researchers discovered that all the tested devices are vulnerable to attacks” (Source).
Fortunately, some companies such as Apple and Intel have already implemented security upgrades on their devices. Users are also advised to keep their security, software, and firmware updated at all times.
Get ready for blockchain advancements like never before
For the past decade, blockchain has been used to build an ecosystem where cryptocurrencies and peer-to-peer transactions are just a few of the many use cases. (Source).
Traditionally, data is shared across centralized networks, leaving systems vulnerable to attacks. However, with decentralization as an added security measure to blockchain, the threat of a single point of failure across a distributed network is eradicated.
As more and more companies turn to blockchain to gain the benefits of more efficient data sharing and easier data transfers, privacy is overlooked.
In most public blockchains today, transactions are visible to all nodes of a network. Naturally, of course, the issue of privacy is raised due to the sensitive nature of the data, and this transparency comes at a cost. With digital transformation happening all around us, privacy protection cannot be ignored.
To address privacy, many blockchain companies are employing privacy-preserving mechanisms on their infrastructures, from zero-knowledge proofs to encryption algorithms such as Multi-Party Computation (MPC). These mechanisms encrypt data as it’s shared and only reveal the specific elements needed for a specific task (Source).
Costs efficiencies and a better understanding of consumer needs are just a few of the advantages of privacy-preserving mechanisms being introduced. As data and privacy go hand in hand in the future, equitability and trust will be our key to unlock new possibilities that enhance life as we know it (Source).
Upcoming Canadian elections could turn into surveillance problem
Once again, the Canadian federal elections are raising concerns about interference and disruption through the misuse of personal data. In the past, political parties have been known to use their power to influence populations who are not aware of how their data is being used.
Since data has played a major role in elections, this could become a surveillance issue because experts who study surveillance say that harnessing data has been the key to electoral success, in past elections. “Politicians the world over now believe they can win elections if they just have better, more refined and more accurate data on the electorate” (Source).
A related issue is a lack of transparency between voters and electoral candidates. “There is a divide between how little is publicly known about what actually goes on in platform businesses that create online networks, like Facebook or Twitter, and what supporters of proper democratic practices argue should be known” (Source).
The officials of this upcoming election should be paying close attention to the public’s personal data and how it is being used.
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