Privacy computing and blockchain help data credible governance practices

In recent years, blockchain technology applications and industries have established a good foundation for development, and a number of representative blockchain applications have emerged in the fields of anti-counterfeiting traceability, supply chain management, judicial deposits, government data sharing, and people’s livelihood services. Blockchain technology builds a new trust system with the characteristics of decentralization, openness, transparency, and non-tamperability. But overall, the development of blockchain is still in its infancy, and there are still problems such as insufficient privacy protection and weak computing and storage capabilities.

Therefore, in the current frontier development and exploration of the blockchain industry, “privacy computing” has gradually emerged and is considered to be one of the key technologies to solve the problem of weak privacy protection in the blockchain. Compared with traditional methods of data confidentiality, the most innovative highlight of privacy computing is the ability to realize the physical dispersion and logical concentration of data. While ensuring data security and privacy, it can also tap the value of data and promote value circulation.

At present, the industry generally believes that technologies such as privacy computing and blockchain are effective technical models for building a trusted circulation environment for data. On May 26, 2021, the National Development and Reform Commission, the Central Cyberspace Administration of China, the Ministry of Industry and Information Technology, and the National Energy Administration jointly issued the “National Integrated Big Data Center Collaborative Innovation System Computing Hub Implementation Plan.” The “Plan” also mentioned: experimenting with multi-party secure computing, blockchain, privacy computing, data sandbox and other technical models, building a trusted data circulation environment, and improving the efficiency of data circulation.

Data Construction: Technology R&D and Application “Twists and Turns

2013 is known as the first year of big data. Since then, data has gradually penetrated into every industry and business functional area today, becoming an important production factor. In this process, the significance of data to enterprises has also undergone subversive changes.

At the beginning of the development of big data, big data was regarded as a cost input in the process of technological R&D and innovation. That is to say, in the process of building a big data platform, the government or enterprise puts the budget in the forefront of technology research and development, and the “return rate” is regarded as an important indicator of the achievements of technology construction. Today, data is seen as a new asset and a new factor of production, rather than a “product” calculated at cost.

When companies invest in R&D in the data direction, they continue to mine data assets and data elements. In this process, data serves as an internal cause and plays a strong role in promoting. For example, in recent years, the demand for the implementation of technologies such as blockchain and privacy computing is an important manifestation of the current data as a factor of production.

Data Trustworthy Governance: A People-oriented Value Concept

With the continuous enrichment of the development momentum of the Internet of Things, the market potential is generally recognized by the industry, the continuous acceleration of development speed, and the endless emergence of business and technological innovations indicate that the rapid development of the Internet of Things has become an inevitable trend.

However, technology is a double-edged sword that makes the Internet of Things develop at a rapid rate, but it also exposes a significant problem: the potential “attack surface.” This potential “attack surface” makes data security in the era of the Internet of Things extremely vulnerable to damage. Therefore, in the era of the Internet of Things, data governance has become an urgent problem to be solved.

Therefore, the ultimate source of data governance is to provide more complete technology upgrades and solutions. From this perspective, the completeness of data governance is actually the implementation of people-oriented values. Technology is changing with each passing day, but people-oriented has always been a necessary condition for the sustainable development of technology.

Concluding remarks

In the era of digital economy, data has become an indispensable element in production and life, and has had a huge impact on the efficiency of resource allocation. With the rapid development of productivity levels today, the important position of data is constantly being highlighted. However, in this context, chaos such as data leaks and big data “killing” are also emerging in an endless stream. On June 10, the 29th meeting of the Standing Committee of the 13th National People’s Congress voted and passed the “Data Security Law of the People’s Republic of China”. Effective data supervision has been implemented in accordance with laws and data security protection. The blank in legislation has improved the legal system for cyberspace security governance.

Data security is closely related to social security, national security, and citizen security. Data security and data governance are not only key construction content within the current enterprise and industry, but in fact, it will be integrated into the country’s infrastructure construction and citizens’ daily lives In all aspects.

Only when the data security mechanism is perfected, in the ecology built by “blockchain + privacy computing”, can we truly protect everyone’s “digital identity” for the safe storage of data, so as to carry out credible and safe social activities, and Really release the value of data.

Source | People Digital Fintech


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