Twenty years ago, no one could have predicted just how far-reaching and powerful the Internet would become today. They also couldn’t have predicted just how much cyber-crime would permeate the online world, and how our personal and financial privacy would continue to fall away as governments and groups fight harder to gain more information on us.
Signing up for social media or creating any sort of account means creating a digital trail that inevitably leads back to the source, and more and more people are becoming disconcerted with the idea of having their personal information leaked online.
While there are some ways to circumvent prying eyes, such as using VPNs and networks like Tor, these are often for more advanced users, and there’s a huge market for a privacy solution for the general public. But recent developments from innovative software like blockchain means we’re seeing a new wave of online privacy that could benefit sectors like banking, gaming, and sports betting NZ.
The Latest Cryptographic Protocols
The latest in the world of virtual privacy comes in the form of a new tool called Perfect Online Privacy, which is still currently in development. The aim of the tool is to create a means for people to make use of online services without ever having to submit and personal or financial information.
While it may seem too good to be true, initial sources believe that Perfect Online Privacy may allow us to continue using the internet as openly as we do now, with the added bonus that governments, social media, and online criminals can’t find any real information on our identities.
The protocol involved in this technology is called zero-knowledge proof. It’s by no means a new concept, and developers have been working on zero-knowledge proof protocols for the last two decades. But thanks to the current obsession with cryptocurrencies and a new market for the need for online privacy, it’s the first time we’re seeing major breakthroughs in the tech.
Usage in Every Day Life
While it will most certainly have practical usage in many sectors of our online lives, the focus of Perfect Online Privacy at the moment is for online transactions and transferral of money. The methods we use to transfer money right now are not totally secure, and most banks’ security systems tend to have backdoors and loopholes that can be exploited, allowing criminals to gain access to personal information.
The idea is to use the tool in tandem with blockchain systems, which are currently becoming more established around the world, and have already been adopted by a number of international banks. Blockchain is an almost perfect way to move funds around online, but it still does leave some digital footprints – which is where Perfect Online Privacy comes in.
Users receive an online key, which they can then use to access blockchain and other accounts, allowing them to transfer money almost entirely anonymously. The system isn’t completely safe just yet, but development should yield results in the next few years.