At the moment, data is held in centralised databases, such as a data centre, but if the company controlling the data is compromised, with say a simple phishing attack, you have a problem.
“One person to click on link, then the whole data is compromised,” this leads to lateral movement.
“Blockchain allows you to reduce that risk, as you are taking a massive amount of data. By putting it on a blockchain, it is not stored in the one place. It’s broken up into millions of smaller bits that are encrypted, tokenised, put on different nodes which make up the blockchain network, to compromise the data you have to compromise millions of machines, break the encryption and put it all back together.”
Security is made up of three pillars: confidentiality, integrity, and availability, but blockchain provides the ability to trust people you don’t know, at least that is the idea.
The original vision of ARPANET was a closed network where every member (node) knew exactly who the other party was. With the immense expansion of the internet, more and more networks and people started connecting, naturally everyone no longer knew everyone else. The internet became and stayed untrusted.
That is why the creation of the internet of trust using blockchain represents such a dramatic shift.