The number of records compromised in Q1 and Q2 2018 has already surpassed the total number of breached records for all of 2017, as identified in Identity Theft Resource Center’s (ITRC) 2017 Data Breach Industry Summary report. There were plenty of additional data breaches that took place in the first half of 2018, which means the number of compromised records could actually be much higher. The data breached had occurred from various online and social media website particularly relating with e-commerce.
The information stolen could be financial information such as credit card stolen from Saks, Lord, and Taylor with over 5 million records breached; health-related information as in the case of PumpUp data breach; contact information of over 19 million users stolen from the databases of Sacramento Bee and worst of is the stolen national identity information of 1.1 billion Indian citizens. The information scraped from databases can be used in illegal manners.
Solutions had been procured to curb this menace but the most efficient of all is using the blockchain technology to prevent a data breach. The blockchain is considered to be the public distributed ledger which comprises of nodes interconnected to a number of computers all around the globe. With this technique, it is impossible for hackers to get users’ information as all data would be verified before permanent storage on the blockchain. The blockchain is both transparent and immutable (that is all information cannot be falsified).
The DataXchain project is a blockchain based project to help in monetizing some users’ data such as music, personal information, and images. This project not only helps to safeguard users’ personal information from hackers but also helps to make a profit by selling in a peer-to-peer transaction method with data users which comprises of individuals, organizations and even countries.
DataXchain helps links data owners to data users using a smart contract that will allow the data owners to get paid in DataXchain token while the data users get to download the purchased data.
The DataXchain token (DXCT) is a utility token created on the Ethereum blockchain. The token is ERC-20 compliant with one billion in total supply.
Below are some of the reasons why investors should buy DXCT tokens.
DataXchain is a credible and viable platform that will revolutionize data trade and ownership, addressing the needs of a vast and fast-growing market, estimated at one trillion euros by 2020 and 163 Zettabytes of data by 2025.
Considering the recent problem related to data theft, the issues of personal data rights had gained prominence with the DataXchain project being the perfect solution. Another reason is that the project is backed by South Korean company Xiilab (a big-data industry giant and a leading provider of AI software and service).
Also, the project is in strong partnerships with solid fintech industry leaders such as LINUX foundation, Oracle and Ethereum, and MFU.
The last reason is the reputable team of experts and advisors working on the DataXchain platform. The team is led by Mr. Baek Yong Chang as the Chief Executive Officer who had built an impressive career in aspect relating to Big-Data, AI, IoT, Cloud Computing just to mention a few. Other team members include Mr. Lee Woo Yung (CSO), Mr. Choi Young Hun (CMO) and Mr. Frank Cha (COO).
Join the DataXchain ICO project today to enjoy the awesome benefit that this project tends to offer.
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My name is Rob Elneo a blogger and crypto enthusiast and a legendary member of Bitcointalk I have been involved on Bitcoin since 2013