Zero Knowledge Proofs – Personal Data Security and Privacy
Over the course of the last year and a half, Facebook and Google combined have been involved in over a dozen scandals relating to a violation of customers’ data.
Google is shamelessly introducing more and more intrusive programs into its plethora of apps and services to track everything their users are doing on the internet. Facebook allowed companies access to the personal data of millions of their users for a price. They went as far as to allow companies like Netflix access to users’ private messages.
This relentless and predatory behavior from corporations shows no signs of slowing down and they are continuously evading accountability for their actions.
Even when they are forced to face the consequences of their actions, they are simply asked to pay a fine. But for these companies, the fines are simply a cost of doing business since the profits they gain from these practices are way higher than the fines they have to pay.
We need to provide our data in order to avail some services such as health insurance or bank loans. However, as long as these companies have access to our data, we can’t be sure that our data will remain private.
So, how do you confirm that you are eligible for a loan or an insurance package without allowing these companies access to your medical and financial data? The answer is Zero-Knowledge Proofs.
Complete & Sound Yet Zero Knowledge
With Zero-Knowledge Proofs, a ‘verifier' is able to confirm some fact about the ‘prover' without learning anything else about the ‘prover'.
A Zero Knowledge System builds trust in a data-free process through these three aspects.
A verifier can trust that an honest prover's statement is true.
A verifier will almost always know when a dishonest prover's statement is false.
The prover can trust that the verifier learns nothing beyond the fact the statement is true.
If you want to learn how a Zero-Knowledge Proof works, you can read more here (Link Article 1 here).
Supporting Data Privacy & Security
For the average reader, it is hard to wrap your head around Zero-Knowledge Proofs. However, it is a way of data verification that could free us from the plethora of spying corporations that are constantly logging our every whim and trying to squeeze out more profit. Which is why Zero-Knowledge Proofs are considered to be the ultimate solution to the problem of data verification. You can still confirm for a verifier that you have the data that is required without revealing additional information.
Furthermore, for any hacker, the only outcome of value out of an attack is the data. A very significant loophole in the current system of internet is the medium of data transfer. Any hacker that has access to any device used in the process of data transfer has a chance of listening in and altering that data. But Zero-Knowledge Proofs we can avoid this loophole completely. Since Zero-Knowledge Proofs offer no data during a transaction, there is no data to steal for someone listening in.
Zero Knowledge Proofs could really be the solution to the problems of data privacy and security of today.