According to Arad, an obvious next step for data storage is to combine decentralized options with privacy-enhancing technologies in order to pool knowledge without sharing data. Decentralized Storage-A Natural Corollary to Web3ĭecentralized options, sometimes referred to as providerless, are practical, effective, and safer.Leading Decentralized Storage Platforms.Decentralized data storage, which is highly secure and promises more flexibility to the end user, is an option worth considering.Īlso read: Data Loss Prevention (DLP) Best Practices & Strategies Given the inherent flaws present in centralized solutions, maybe it is time to explore alternative data storage options. “They’re not just disasters waiting to happen they’re disasters in progress.” “That, in turn, is disastrous for consumer privacy and makes effective cybersecurity and fraud protection far more difficult.
“As we saw in the Equifax and Experian breaches and the recent TransUnion problem with a criminal gaining access to the data, these centralized data stores are treasure troves for criminals and attract attacks accordingly,” says Uri Arad, co-founder and VP of product & research at Identiq. Additionally, they are susceptible to cyberattacks that can cripple systems and cause disastrous financial loss. However, they have been accused of monopolizing the market and pigeonholing customers into rigid storage plans. With most enterprises favoring centralized cloud storage providers (CSP) for storing data, hyper scalar CSPs are in high demand.
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