Blockchain Startup Promises to Solve Privacy Problems

Blockchain Startup Promises to Solve Privacy Problems

Blockchain startup Oasis Labs was reported to have raised $45 million in funding this week from a number of big Silicon Valley VC’s and cryptocurrency investors. The company claims that they will be able to curtail a number of privacy problems associated with cloud computing and the Internet.

Oasis Labs head Dawn Song says that even though outsourcing data storage and processing over the internet has given companies greater flexibility and consumers a number of new services, it has also contributed to the theft of data, corporate prying on the lives of individuals, and even electoral manipulation.

Song says that they were already able to test some of their ideas by helping install new privacy safeguards at Uber which had previously been plagued by security incidents in the past.

Source: Wired

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