The importance of privacy

Hodl Hodl
Hodl Hodl
Sep 17 · 2 min read

One of the core principles Hodl Hodl has always strived for is privacy. Achieving the ultimate level of confidentiality nowadays is not an easy task. In this post, we would like to speak up on how important it is to respect human privacy in everyday life.

Privacy is essential for a number of reasons that are not always obvious. The main ones have to do with the implications of not having it. Many people can be harmed or weakened if there are no restrictions on accessing and using private information by the public or governments. Other reasons are more fundamental and relate to the most essential of the human being. While respect for the person requires care for individuals privacy, losing control of personal information could cause unpleasant consequences like losing control of human dignity, and in some extreme cases, even of life itself. Therefore, it is necessary to protect this fundamental right among several others to ensure that we can enjoy a dignified life.

In recent years, we have seen countless news about the lack of information security or intrusions into personal privacy. These hacks into government and private sector systems have exposed confidential information about strategies, businesses, and people. It might seem that more and more systems are being compromised every day, and more personal data becomes available on the web.

Privacy also places limits on the power of governments and the power of some large corporations. The more someone knows about us, the more influence they have over us. And personal data is often used to make decisions or take actions that end up affecting our lives. Personal data can be used to affect our reputation, influence our choices, and shape our behavior. It can be used as a tool to exert control over us, and in the wrong hands, personal data can be used to cause us great harm.

Recognizing the importance of providing security and privacy guarantees to our users and systems, we recently began a major security restructuring to bring these concepts to even higher standards than those used so far and thus have more secure and confidential operations. This way, we will be able to provide a unified approach to protect the security of funds and operate simplified platforms while maintaining the guidelines of non-custody of funds and unrestricted respect for the privacy of our users.

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