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Data Privacy Update from CHIPS

Data Privacy Update from CHIPS

  1. Data-Sharing Tools That Preserve Privacy Will Be More Readily Available

Using data to gain business insights requires a large amount of data. One way to obtain it is through data sharing. Gartner predicts that, by 2023, organizations that promote data sharing will outperform their peers on most business-value metrics.

With data privacy laws becoming more prevalent, companies will need to use data-sharing tools that preserve privacy. Fortunately, they will be more readily available this year. “2022 is going to be the start of us having real tools to work with people’s data while preserving their privacy,” said Eric Rescorla, the chief technology officer at Firefox. “Cryptographers have been working on technologies like multiparty computation, zero-knowledge proofs, and homomorphic encryption for years, but they’ve finally gotten good enough that they’re practical for real-world problems.”

These tools are poised to “liberate organizations and their data from privacy’s shackles,” according to experts at Deloitte. “Approaches such as FHE [fully homomorphic encryption], differential privacy, and functional encryption make it possible for organizations to reap the benefits of data sharing without sacrificing privacy.
CHIPS Technology found at 

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