When it comes to planning your vacation, data security is the last problem that people usually think of.
We have all got used to centralized platforms such as Booking and AirBnb and fully rely on them with the security of our personal data. However, the size of the service is not an index to guarantee your data security.
The bigger is the service, the more attractive it is for hackers. The hack of Equifax, one of the biggest credit scores bureaus, led to 143 million identities stolen in 2017. Since rental platforms store your payment details and other pieces of personal data, too, they can easily become a target.
Implementing the blockchain technologies may become a good solution for this problem.
Why blockchain?
Blockchain represents a database that contains records about transactions. It is an open ledger that is visible for everyone on the web. The records about transactions are immutable, they can never be altered or deleted.
It’s close to impossible to hack the blockchain which makes the technology pretty secure
The biggest advantage that the blockchain provides in light of the issues mentioned above is data security. On the blockchain, transactions are visible for everyone, but they are impersonated. Only participants of a deal will know who sent how much money to whom.
Also, the decentralized approach makes the system totally impenetrable for hackers. With a centralized service, all you need to do is to break into a single datacenter, and the data is yours. With a decentralized database, you will have to break into its every part to obtain only a small fraction of the whole data set. The efforts spent for such an enterprise are just not worth the effect.