Some entrepreneurs have been trying to increase data privacy by combining encryption and blockchain technology. There are projects like Oasis Labs and Enigma that focus entirely on preserving users’ privacy. Meanwhile, others have been focusing on preventing data retention by companies. Thus, there is no way to guarantee that personal data is deleted in a company’s data system. Blockchain technology’s reliable consensus ensures that people’s data is used correctly.
Companies like Oasis Labs, which designed the Ekiden system, run smart contracts outside the blockchain within a Trusted Execution Environment, or TEE, node to enable the same security as if it were on the chain.
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