IoTeX — A blockchain for the IoT with built in privacy (video).
“The privacy provided natively by Bitcoin and Ethereum is limited to pseudonymity. Transaction details are not confidential. The transaction amount and the assets being transferred, its metadata, and its relationships to other transactions, can be trivially learned by anyone. In fact, there are three aspects of privacy: sender privacy, receiver privacy and privacy of transaction details in this context.” (from the IoTeX Whitepaper)
Despite rising spending on IoT security, consumers around the world are deeply worried about how their personal information is collected and shared by the growing Internet of Things (IoT) market. Business and professionals are equally concerned, and they should be. “Internet of Things” technology cannot avoid the lack of privacy problem: IoT devices manufacturers do not have the know how to build in security and information privacy into their devices. Even then, they would still be left with all the users private data in their hands.
IoT must let users own and be in control of their own data, and to feel a sense of trust for the devices they use, and for the infrastructure that those devices use to interact and transfer personal data.
Can we count on IoT vendors to make that happen?
What if privacy was independently guaranteed by the network itself, instead? What if it was enforced by a decentralized consensus in a blockchain?
Check out my latest short video about IoTeX Built in Privacy feature!
And here is the full playlist!