You can be stolen; How to achieve Privacy Protection on Blockchain.
Yes you can be stolen- its called Identity theft. In our digital/virtual world numbers and codes represent human beings, if I hijack the codes & numbers that represent you and gain access to your password etc. I can become you digitally.
Your bank will not know you, and so you will have no access to your money because they now belong to me; you will be arrested for bank fraud and impersonation, you will have to prove that you are who you say you are, but how will you do that? When everything you need to prove who you says you are is now me, tonight you are a jail-bird.
If you have a medical emergency, you could die because the medical records are of me and not you, if my bio-data is used to administer medication to you, things could really go wrong and it could be fatal, or if your medical record is inaccessible the resultant delay could be the difference between life and death.
I could steal your smart-car, smart-house, and pretty much anything you own that you think is smart, you in turn could be left homeless and at a great cost proving who you say you are. You and the police will be looking for you even though you are seated right in front of the police. Irony.
You get it, you need to protect yourself in the digital world, privacy protection is important as you could already be giving away too much info via your metadata and IP address to cybercriminals. Also there is the other matter of privacy that is not related in anyway to crime but a matter of right. For example you simple may not want anyone to know your worth, no matter how close they are to you. Whatever your need for privacy you should be able to achieve it.
Why Metadata and IP addresses is the darling of Cybercriminals
Look at it like this, if I have information about what you have in your house, where they are in your house and how you access your house and finally your house address then I it is easier for me to decide if your house is worth bugling and how to go about bugling it. Now that’s what Metadata and IP addresses can give to a cybercriminals.
Metadata is data that describes data, so your metadata will be data that describes information about you; and IP address is the address of where and how to connect/communicate with devices much like your home address and so securing it is essential, making this information private is a big step in ensuring your security.
SecuritySkeptics puts it like this
1. IP addresses identify Internet’s streets and house numbers
2. Autonomous System Numbers identify the Internet’s “neighbourhoods”
3. Domain Names provide user-friendly ways to remember addresses, e.g., “My friend Matt’s house”.
Your Metadata and IP address say a lot about what you.
The Misconception of Privacy and Security
Although I know you have $1m dollars in your house(no-privacy) I may not be able to steal it because you have secured it, so your privacy can be a disincentive for a cybercriminal or an incentive. The point is Security and Privacy are 2 different things, Security means freedom from risk and danger, it means safety but it does not mean that information is kept private.
Privacy Protection is a right and an important tool against digital/internet crime.
People want/need/have to keep things to themselves even from some of their closest relationship, it is their right to share what they want to share and with whom they want to, and this also applies to them in their virtual world. The point being that regardless of security issues I have a right to choose what I want to share.
Privacy protection is keeping the information you’d like to keep to yourself from getting into the hands of others. The definition of privacy protection varies from person to person. Each person has different expectations of privacy, so the level of security they need to feel that their privacy is truly protected ranges greatly.
How to protect your Privacy online.
Basic elements of privacy protection online often if not nearly always include VPN/proxy servers/software and IP masking, however there are some simple things you can do, including
1. Browse in Incognito or private mode
2. Use search engines that are focus on non-data collection
3. Limit the information you share on social media
4. Use strong passwords
The Blockchain is secured but are not necessarily private
Block chains are generally secured because
1. Activities are transparent and traceable to users.
2. Blockchain are decentralized so no single entry point into the database
3. Information cannot be altered once it is recorded; users credentials are revoked once altered.
4. Blockchain store data cryptographically.
However activities on blockchain often leave a trail behind, this is a weakness that can be exploited
Blockchain is weak on Privacy
You are not anonymous on blockchain; technically you leave a trail of digital information on the blockchain. Anyone can find it and see what DApps you’ve used, transfers you’ve made, and the crypto assets you hold and so you do not have privacy. To ensure you have privacy then you need to have solutions that can help you
1. Protect your address and activities
2. Protect your metadata
For this you will need solutions that are dedicated to Blockchain privacy like BlockWallet and Aleo.
Reclaim your financial privacy on blockchain with BlockWallet.
2. Rafter, D. How to protect your privacy online. https://us.norton.com/internetsecurity-privacy-protecting-your-privacy-online.html
3. Stouffer, C. Blockchain security: How safe blockchain really is. https://us.norton.com/internetsecurity-privacy-how-to-blockchain-security.html