Origin Protocol, a blockchain start-up that is building infrastructure for a new decentralized sharing economy, has announced that it is forming a technology partnership with NuCypher, a company that provides encryption technology to decentralized applications. In the future, sharing economy companies building on the Origin Protocol platform will have access to NuCypher data re-encryption technology, which is described as ‘HTTPS for Dapps’ and will allow for more complicated applications to be built completely decentralized.
Data security is a top concern at the moment as data silos have been shown to be compromised, resulting in massive leaks of private information or the manipulation of personal data to influence the outcome of political events. Many large companies worldwide have created their business empires from their ability to collect, silo, and analyse huge amounts of customer data. The subsequent monopolisation has creates a single point of failure for data security, in addition to unfair practices that take advantage of consumers such as price and market manipulation.