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According to former Google CEO Eric Schmidt, every 2 days now we create as much information as we did from the dawn of civilization up until 2003. That’s something like five exabytes of data. "The real issue is user-generated content" he says.
Naturally, all of this information is accessible to Google and companies like this can do all sorts of things with this information. Here the privacy of the user is at risk.
When the privacy of the user is at stake then problems such as data theft, cyber-bullying, sextortion and unauthorized access to the personal information prevail. These can make a big change in the personal and professional life of an individual and can affect our relationships and our personal image in our society.
Block-chain technology can help us get rid of such issues. Block-chain technology will enable greater data privacy and data security. If such serious issues can be resolved by the mere use of block-chain technology then one should not have any problems regarding the commercialization of this technology.
This is why Commercialization and the widespread use of the Block-chain Technology is of utmost importance.
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