“Data Belongs to Users” — Tim Cook on the Global Data Crisis
The global data crisis has finally reached a breaking point. In the wake of the Equifax hack, the Facebook hack, GDPR, and California Data Protection Act, the worlds largest CEO’s and companies now find it critical to weigh in on the issue.
While we’ve long shared the importance of keeping your data secure, it’s exciting to see this crisis come into focus at the worlds largest companies.
Earlier today, Apple CEO, Tim Cook, shared his thoughts and a few pillars of privacy via a series of tweets.
Theme: Privacy is a Fundamental Human Right
In the past, consumers had little recourse against privacy, calling central data collection firms a “necessary evil”. Consumers believed that the right to privacy simply was a pipe dream, that you must share your private information in order to exist in the world.
With Bloom’s advancements and technical innovations, there is a new path. We share this overarching belief that privacy is absolutely fundamental to the future of technology.
1. Eliminate The Sharing of Raw Information
At Bloom, the belief that you do not need to collect most information is at the core of our product vision. Every moment, servers are logging, cataloging, and selling your personal, private information. This is not technically needed.
Advancements in technology make it more possible then ever to verify information without storing raw personal details.
2. Users Should Know What is Collected
Every moment, servers are logging, cataloging, and selling your personal, private information.
In the US alone, more than 10,000 companies are pooling and selling your personal data — governments are struggling to curb the epidemic. While policies like GDPR attempt to mitigate the global data crisis, the problem is only getting worse.
These servers are frequently hacked, breached, and shared with third parties.
Modern methods of data sharing are critical to upending this long held practice of data sharing.
3. Data Belongs to Users
The data industry is a murky one. Riddled with scams, dark markets, and illegal underground sources of data, the problem is getting worse.
4. Security as the heart of Privacy
In 2017, Equifax was hacked, leaking the private information of more than 145 million Americans. This was one of the most notable leaks in recently history.
Additionally, two years before that, 123 million American households had sensitive information publicly exposed due to the negligence of Alteryx, a marketing analytics firm.
Bloom is trying to change this.
Bloom Creates a Better Future
At Bloom, we are giving you the tools to take back control of your data.
Bloom enables you to own, authorize the use of, and protect your data using the latest advancements in blockchain technology. With Bloom, the risk of your data being exposed in a data breach or leak is greatly reduced. No more centralized data storage. No more selling off your data to the highest bidder. No more risking identity theft. Your identity, and your highly sensitive personal and financial information, is securely safeguarded on your own personal device using cutting-edge cryptography.
