{"id":160077,"date":"2021-01-21T17:08:49","date_gmt":"2021-01-21T14:08:49","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/why-secure-data-tokenization-should-scare-the-hell-out-of-big-data\/"},"modified":"2021-01-21T17:08:49","modified_gmt":"2021-01-21T14:08:49","slug":"why-secure-data-tokenization-should-scare-the-hell-out-of-big-data","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/why-secure-data-tokenization-should-scare-the-hell-out-of-big-data\/","title":{"rendered":"# Why secure data tokenization should scare the hell out of Big Data"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a24bfaf7dd1d\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a24bfaf7dd1d\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/why-secure-data-tokenization-should-scare-the-hell-out-of-big-data\/#The_missing_data_control_layer\" >The missing data control layer<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/why-secure-data-tokenization-should-scare-the-hell-out-of-big-data\/#How_can_data_tokenization_drive_demand\" >How can data tokenization drive demand?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/why-secure-data-tokenization-should-scare-the-hell-out-of-big-data\/#Programmatic_data_access_rights\" >Programmatic data access rights<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/buradabiliyorum.com\/en\/why-secure-data-tokenization-should-scare-the-hell-out-of-big-data\/#New_use_cases_for_crypto_data\" >New use cases for crypto data<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/buradabiliyorum.com\/en\/why-secure-data-tokenization-should-scare-the-hell-out-of-big-data\/#A_pressing_use_case_Immunity_certificates_and_COVID-19\" >A pressing use case: Immunity certificates and COVID-19<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/buradabiliyorum.com\/en\/why-secure-data-tokenization-should-scare-the-hell-out-of-big-data\/#Where_to_go_from_here\" >Where to go from here?<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Why secure data tokenization should scare the hell out of Big Data <\/strong>&#8221;<br \/>\n<img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDEvMDQ0ODFiZmYtMGNmNC00OTg1LTlmMzctZTJlODU4ZmRlZGRhLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-5a136f3a>Data is becoming one of society\u2019s most valuable resources. And yet, our existing <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>roaches fail to unleash its massive intrinsic value. Why is this the case?<\/p>\n<p>The issue is that our data \u2014 who we are, and what is relevant about us \u2014 is defined and collected by corporations and governments. Consumers were alarmed to find their \u200bphones were being <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.wsj.com\/articles\/homeland-security-watchdog-to-probe-departments-use-of-phone-location-data-11606910402\">tracked<\/a> by the government\u200b, for example. These organizations, whether private or governmental, seem interested primarily in using your personal identity and your data streams to enhance their power. If you are an average user, this means you are missing out on significant ways to define the data about and from you and leverage it for your own value.<\/p>\n<p>Unsurprisingly, consumer trust online is at all-time lows. Loss of privacy and fears about security make the average person wary of interactions on the internet. Today, the majority of our data\u2019s value is captured by a small handful of <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/technology\/\" data-internallinksmanager029f6b8e52c=\"4\" title=\"Technology\" target=\"_blank\" rel=\"noopener\">technology<\/a> companies that have the means to aggregate and analyze it. Although some companies, such as Apple, are making small strides in informing users about data privacy by <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.theverge.com\/2020\/12\/14\/22174017\/apple-app-store-new-privacy-labels-ios-apps-public\">\u200busing<\/a> \u201cnutritional labeling\u201d on apps\u200b, most consumers <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.pewresearch.org\/internet\/2019\/11\/15\/americans-and-privacy-concerned-confused-and-feeling-lack-of-control-over-their-personal-information\/\">\u200bfeel<\/a> their data isn\u2019t something they can control\u200b.<\/p>\n<p>This situation leaves users feeling like the data they hand over to these companies is unfairly used, with only a small fraction of its value being returned to them. For businesses, the data marketplace is unwieldy, while data separate from its context and computational systems lacks appropriate value.<\/p>\n<p>At the same time, the crypto world won\u2019t truly take off until many more people are actively engaged with the ecosystems. And yet, privacy is still missing at layer one. The challenge is in seeding the supply of compelling new services, and that, in turn, will draw mainstream demand from tens of millions of ordinary users.      <\/p>\n<h2><span class=\"ez-toc-section\" id=\"The_missing_data_control_layer\"><\/span>The missing data control layer<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>To address this lack of consumer trust and confidence in the web, we need new technology that allows users not only to control how their data is used but also gain value from it in a fair, open exchange.<\/p>\n<p>The missing piece? Technology that allows each of us to define our own digital identity and control access to our own data. Thus far, attempts to do this have been fractured and siloed.<\/p>\n<p>What if each of us first could \u201cdefine\u201d our identity, separate and apart from both government and corporate control? A digital passport, of sorts, utilizing self-sovereign identity to demonstrate who you are, in a secure, scalable manner. And what if each of us then could \u201ccontrol\u201d access to our data, sharing only how and when we choose, on our own terms?<\/p>\n<p>From the user\u2019s standpoint, enhancing one\u2019s privacy and security stems from directly controlling one\u2019s online identity and personal data. This will open up many new opportunities to engage online, for financial and other gains.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"How_can_data_tokenization_drive_demand\"><\/span>How can data tokenization drive demand?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Secure data tokenization, or SDT, is an emerging blockchain initiative that creates a new control mechanism over one\u2019s personal data and ensures that one\u2019s online tracings can remain confidential even when used by an application.<\/p>\n<p>These advances will not only make integrating blockchains into mainstream applications more practical and appealing but also unlock new value for the average user \u2014 who, for the first time, will be able to have sovereignty over how their data is accessed and used.<\/p>\n<p>SDT is easily transferable, private and highly customizable. This allows individuals to do everything from controlling how mainstream applications use their data to trading their data on open marketplaces, or engaging in new categories of DeFi apps, such as undercollateralized lending services that require data sensitive to share on the non-privacy-preserving chains like Ethereum. Previous issues of control, access and value now become tangible benefits of SDT.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Programmatic_data_access_rights\"><\/span>Programmatic data access rights<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>In particular, what we call \u201cprogrammatic data use\u201d can dramatically realign the incentives among users. With programmatic use, smart contracts on a Blockchain 3.0 network can enforce specific policies, while the blockchain records the transaction. Users can set policies for how they would like different capsules of data to be used. These policies regulate the usage of each capsule, even after the data has been shared \u2014 ensuring usage is always compliant.<\/p>\n<p>Keeping the data private also ensures that the user data cannot be reused or repurposed in any way without permission. As a result, the user remains in control of their data, opening up countless new value-creation paths that simply have not been possible before.<\/p>\n<p>Programmatically attaching money to the flow of data\u200b creates the possibility to establish a direct and repeated relationship between the data producer\/owner and the data consumer\/buyer. Users and entities on all sides can explore novel ways of cooperating and collaborating with each other.<\/p>\n<p>Once data is encapsulated in supportive computational systems as crypto data, end users can allow selective and consent-based computation on their information. With secure computing environments, end-users don\u2019t have to accept the current uneven trade-off between value extraction and data transfer. Instead, they can maintain access to and the confidentiality of their data, even when the right to use is granted to a third party.<\/p>\n<p>Secure data tokenization will empower users to control access to their data via programmatic access rights, while they are also able to define and manage their online identity through self-sovereign identity.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"New_use_cases_for_crypto_data\"><\/span>New use cases for crypto data<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Tokenized data and its ability to enforce programmable usage policies are a powerful key to protecting our data and a critical milestone toward creating an open, decentralized data economy that offers individual fair market value for users\u2019 information.<\/p>\n<p>Tokenized data can be used to protect data in mainstream applications, such as:<\/p>\n<ul>\n<li><strong>Healthcare apps\u200b.<\/strong> Human health data and genomic data are two excellent use cases. Highly sensitive biometric data from patients can be collected, aggregated and made available to researchers and others for analysis, while the underlying datasets remain fully secure and protected.<\/li>\n<li><strong><a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Social media<\/a> apps.\u200b<\/strong> The personal details we share on social media apps fuel lucrative, hyper-targeted advertising and marketing campaigns. With data tokenization, social media users are able to control what data is shared with third parties, including advertisers, and even request a share of the ad profits from social media platforms.<\/li>\n<li><strong>Financial apps.<\/strong>\u200b The promise of open finance is incredibly appealing, but the currently open design of blockchains makes it nearly impossible for secure transactions to take place with an appropriate degree of confidentiality. Data tokenization adds that privacy and security component as part of the user\u2019s data control layer.<\/li>\n<li><strong>Token markets.<\/strong> \u200bTokenized data also can be used in entirely new kinds of open marketplaces. Users can sell, barter or donate their data for a wide range of purposes, such as advertising, research and analysis.<\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"A_pressing_use_case_Immunity_certificates_and_COVID-19\"><\/span>A pressing use case: Immunity certificates and COVID-19<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>As vaccines begin to be distributed throughout societies, immunity-tracking systems can leverage crypto data in crucial ways. Individuals would have the guarantees they require to feel confident that their data is protected and not abused. <\/p>\n<p>Programmatic usage policies could be set, ensuring that only specific queries could be run by specific officials, and secure computing environments would help to ensure that data couldn\u2019t be copied and used for ulterior purposes. Pools of crypto data with similar policies could then be made, allowing officials to easily access the data they need to combat the global pandemic.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Where_to_go_from_here\"><\/span>Where to go from here?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>To fulfill the immense promise of these technologies, a number of steps remain before us. These could include:<\/p>\n<ul>\n<li>Further developing a\u200b digital stewardship agenda\u200b (including a new edge-to-all design principle)<\/li>\n<li>Exploring additional use cases<\/li>\n<li>Educating policymakers<\/li>\n<li>Initiating a tokenized data ecosystem of stakeholders.<\/li>\n<\/ul>\n<p>As consumers become more aware of their privacy and data rights, it is inevitable that they will scrutinize access. This shift could open the floodgates to more distributed applications and more widespread consumer use. <\/p>\n<p class=\"post-content__disclaimer\"><em>The views, thoughts and opinions expressed here are the author\u2019s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.<\/em><\/p>\n<div>\n<div style=\"background: rgb(239, 239, 239); border: 1px solid rgb(204, 204, 204); padding: 10px;\"><strong>Richard Whitt<\/strong> is a public policy attorney, technology strategist and business advisor. He spent over 11 years with Google, most recently as a corporate director for strategic initiatives. Richard is currently a fellow in residence with the Mozilla Foundation, a fellow in non-residence with the Georgetown Institute for Technology Law and Policy, head of digital stewardship on behalf of Oasis Protocol Foundation, and a member of the advisory board to FortifID.<\/div>\n<\/div>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/why-secure-data-tokenization-should-scare-the-hell-out-of-big-data\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Why secure data tokenization should scare the hell out of Big Data &#8221; Data is becoming one of society\u2019s most valuable resources. And yet, our existing approaches fail to unleash its massive intrinsic value. Why is this the case? The issue is that our data \u2014 who we are, and what is relevant about&#8230;<\/p>\n","protected":false},"author":1,"featured_media":160078,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDEvMDQ0ODFiZmYtMGNmNC00OTg1LTlmMzctZTJlODU4ZmRlZGRhLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[15047,74894,74892,1545,72366,5047,4965],"class_list":["post-160077","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-privacy","tag-blockchain","tag-tokens","tag-coronavirus","tag-data","tag-health","tag-technology"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/160077","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=160077"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/160077\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/160078"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=160077"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=160077"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=160077"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}