Data privacy and security are undoubtedly one of the most essential components of an organisation. Furthermore, it has been witnessed that several organisations have undergone several forms of data breaches which have cost these corporations losses in huge amounts.
However, Dr Eric from UNSW feels Block Chain is an effective platform to prevent crucial data of organisations from being compromised. Specifically, blockchain works on peer-to-peer data sharing. As a result, it would ensure that the hacker won't be able to locate the primary source of data.
Moreover, with this decentralisation of the data, one can ensure there is no single point of failure. Therefore it would lead to an increase in the workload of the hacker to obtain relevant information.In the meantime, Dr Eric Lim is also the founder of the UNSW crypto clinic and also is a professor in such a field.
