Facebook, Privacy and the Business of Data
Blog post from Duality
Recent disclosures from Facebook have reignited concerns about how the business of data compromises privacy for large populations, as major companies like Facebook, Google, and Amazon profit from using personal information to enhance product sales. While efficient marketing itself is not problematic, it often jeopardizes consumer privacy, as companies fail to employ technologies that protect sensitive data. Homomorphic encryption, which allows data to be computed while encrypted without sharing decryption keys, is highlighted as a promising solution to this issue. This technology could mitigate risks of data breaches and privacy violations, as seen in the Equifax and OPM hacks, by enabling companies to glean insights from data without compromising privacy. Duality's advancements in making homomorphic encryption practical suggest that its adoption by data-centric firms could better safeguard consumer information while still allowing the extraction of valuable analytical insights.
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