Implementation of Blockchain Data Obfuscation
Data protection is no longer a luxury. With so much of sensitive, personal, financial transaction events which involves money or online payment for buying or selling of goods, data gets transmitted online. Hence, security and privacy have become the need of everyone who participates in those events. Blockchain is our use case for securing the data from any major data breaches and keeping data safe enough. Thus, blockchain data obfuscation or data masking refers to the process in which essential data is masked and stored in the form of the blocks, where each block is connected to preceding blocks in the form of a chain. The blockchain application allows greater transparency, as the blockchain is a type of distributed book and it also provides enhanced security and traceability of data, for example, when the items\goods are recorded on a blockchain, we can backtrack items to their point of origin. Once the data is recorded on the blockchain then a customer can trust the accuracy of blockchain data, as the data cannot be manipulated. The advantage of blockchain is that it will reduce the cost of business, by removing middlemen or third parties.