Understanding the Hidden Risks of the Internet and the Importance of Data Ownership

The stability of the internet is under scrutiny as officials raise concerns about its underlying fragility. Rachel Green Horn, the prominent head of Marketing and Communications at the Filecoin FIL/USD Foundation, brought to light the underestimated vulnerability of the internet in a panel discussion at the notable Benzinga's Future of Digital Assets edition in 2022.

Last summer's revealing survey highlighted the general public's unawareness of this issue, with just 25% acknowledging the internet's fragile state. In contrast, a substantial 70% have grappled with data inaccessibility at some stage, indicating a discrepancy between perception and reality when it comes to internet stability.

Horn pointed out the growing consciousness about the worth of data sovereignty and the inclination towards more substantial personal investment in our online presence. 'We're at this moment where people recognize the value of having a greater ownership stake in their data,' she reported, signifying this shift.

She also noted the practicality of cryptocurrencies in enabling this change, particularly through platforms like Filecoin, which rewards storage providers for their participation. This use case promotes cryptocurrency beyond speculative investment and towards real-world applications in data storage and management.

Industry giants such as BlackRock BLK, Data Storage Corporation DTST, State Street Corporation STT, Citigroup Inc. C, Northern Trust Corporation NTRS, Moody's Corporation MCO, S&P Global Inc. SPGI, Alphabet Inc. GOOG, Invesco Ltd. IVZ, and others are set to join the discussion on financial technology and the future of digital assets, indicating the financial world is taking serious note of the digital revolution. This shift highlights the possible influence on various industries and the fundamental implications for personal and institutional data management.

As the global economy continues to intertwine with digital advancements, the role of digital assets, enabled by platforms like Filecoin, is becoming increasingly critical. The challenge of ensuring data stability and ownership is being met with innovative solutions, and the traditional financial sector, shown by the involvement of the aforementioned titans, is eager to adapt and integrate these profound changes.

internet, risk, data