Could 2022 Be Year of Blockchain-Based Privacy? Dusk Network Thinks So

UTC by Julia Sakovich · 2 min read
Could 2022 Be Year of Blockchain-Based Privacy? Dusk Network Thinks So
Photo: Unsplash

Dusk Network believes that the public and financial institutions will easily embrace blockchain-based privacy solutions. 

While the internet has offered a slew of benefits for users (greater connectivity, more access to information than at any time in history, etc), it has also had some downsides. One of the biggest of these is that users’ privacy is very much restricted. From internet service providers to public wi-fi to hackers, it is not difficult for internet users’ activities to be tracked by other people.

Incidents like the Cambridge Analytics scandal only further revealed just how unsafe user data is. However, it seems a solution to this age-old problem might just lie in the blockchain.

The Year of the Blockchain

While internet users already employ a slew of options to protect their privacy like private browsing and VPNs, the options offered by blockchain are unmatched anywhere else. Take the Dusk Network, a blockchain-based compliance and privacy solution for businesses.

The solutions that the Dusk Network offers, for example, include zero-knowledge cryptography and privacy-centric smart contracts. The former means that users can confirm certain pieces of sensitive data without actually revealing them when entering into agreements and the latter means that processes can be carried out automatically using blockchain technology while maintaining the privacy of the parties involved.

The last decade has seen blockchain position itself as one of the most essential technological innovations of modern times. While it was novel when it first came out, it has seen greater public approval through cryptocurrency, DeFi, NFTs, and so on. Because of this, Dusk Network believes that the public and financial institutions will easily embrace blockchain-based privacy solutions.

The Future of Privacy

It should be noted that blockchain has already proven itself in terms of preserving user privacy through things like decentralized finance and even with crypto. Over time, we can expect that blockchain-based solutions, thanks to their decentralized nature, will become the go-to for privacy-centric internet users.

Dusk Network itself has seen an overwhelming response to its upcoming testnet launch. Besides the public buzz about the project, almost 2,500 people have signed up for its waitlist.

Clearly, the public is convinced of the merits of blockchain technology, especially when it comes to privacy and as its capabilities are further explored, this public interest will only grow.

The world has seen many changes thanks to blockchain-based products but few will have quite as much impact as privacy-focused blockchain solutions.

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Julia Sakovich
Editor-in-Chief Julia Sakovich

Having obtained a diploma in Intercultural Communication, Julia continued her studies taking a Master’s degree in Economics and Management. Becoming captured by innovative technologies, Julia turned passionate about exploring emerging techs believing in their ability to transform all spheres of our life.

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