"Google has built a $750 billion empire on its centralized cloud infrastructure and exclusive access to a vast store of user data. Many tech experts wouldn't expect the online advertising and data powerhouse to be interested in blockchain -a technology that, in many ways, obviates the need for the cloud and enables users to wrest control of their data from big tech companies."
""There is a growing awareness among both the public and regulators about cybersecurity and privacy," says Daniel Gasteiger, cofounder and CEO of VALID, a blockchain-based digital identity and personal data platform. VALID is among a handful of blockchain companies that give users a digital wallet for storing their data to which they hold exclusive rights. Only a wallet's owner can decide to share or sell the data it contains, as opposed to deferring the decision to the likes of Google and Facebook."
Google has built a $750 billion empire on centralized cloud infrastructure and exclusive access to vast stores of user data. Reports indicate Google is developing blockchain-related technology that can obviate the need for centralized cloud services and enable users to reclaim control of their data. Decentralized blockchain technology does not necessarily threaten big tech and could offer strategic benefits. Recent privacy scandals at Facebook and ongoing Google privacy issues have increased public and regulatory focus on data handling. Blockchain replaces centralized authorities with distributed ledgers that transfer ownership to users, and firms like VALID offer digital wallets granting exclusive user control over sharing or selling personal data.
Read at PCMAG
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