The CEO of blockchain startup NEO Chen Zhuo (Chen ‘Johnson’ Zhao) said that the blockchain is able to solve the problem of data privacy on Facebook and track their movement. He told about it at the conference on zeroing is completed in Europe as part of the London Tech Week on 16 June.
“I don’t know where Facebook sends my data. Third parties? Someone else? The social network is not paying enough attention to the issue of consent of persons from whom data are collected. In General, the blockchain has good prospects here,” said Jo. “For example, my data runs can also be a valuable asset. I believe that in the future they will be actively marketed. We have to trade such assets or information only with our consent. This process should become more transparent and protected.”
In his speech, the CEO of NEO also expressed confidence in the need to establish clear rules to identify users and handling their data. In his opinion, compliance will help to avoid Ponzi schemes (fraudulent investment scams), different attacks and security breaches, which ultimately will help bring the scope of the blockchain to the masses.
Jo said that for anti-fraud NEO uses a digital identification, which is done by attaching user electronic signature to the asset. Therefore, users have access to information about where the token came, for what purpose and where he was sent.
Note that at the moment NEO is the twelfth largest market capitalization of cryptocurrency. A week ago NEO Global Capital donated £ 12 million for the platform of equity crowdfunding Republic, and in March invested $1 million in peer-to-peer platform for recruitment Moonlight.
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