How TripleBlind’s Data Privacy Solution Compares to Blockchain
Blockchain is a shared, immutable ledger that facilitates recording transactions and tracking assets in a business network. It’s most commonly associated with cryptocurrency, a record of transactions made in bitcoin or other cryptocurrencies that are maintained across several computers that are linked in a peer-to-peer network.
Blockchain has its advantages. It’s a great way to keep an audit trail of who might have done what to your data, but it’s not a good solution for data sharing in the long run. With blockchain, the data stored can still be accessible by certain individuals via a private key.
With TripleBlind, all parties involved in data sharing will always know what is being done to their data. We provide audit trails of all operations, plus all parties must provide cryptographic consent to every operation done. There’s a fine-grained control of data and algorithm interactions where TripleBlind can manage individual attributes and record-level permissions on the data. This allows for accurate cryptographic auditability of every data and algorithm interaction without anyone ever seeing the raw data.
Sharing data through blockchain means it’s inherently public. It allows multiple tiers upstream and downstream to be transparent and highly visible – two words you don’t want associated with sensitive data.
Lastly, blockchain is not built for the future. It’s necessary to have an approach to data sharing that won’t come undone and leave businesses scrambling to use the next best solution. It’s costly, inefficient, and ineffective.
TripleBlind is the future of data sharing and complies with the strictest of data privacy laws and regulations. It can be used around the globe, and our operations will automatically comply with local regulations such as GDPR since everything stays one-way encrypted during our process, and no one gets a copy of the raw data.
To schedule a call or free demo to explore how TripleBlind can work for your business, please reach out to firstname.lastname@example.org. To keep up to date with our latest blogs, follow us on Twitter and LinkedIn!
Read the other blogs in this series:
Tokenization, Masking and Hashing