People Are Increasingly Concerned About Personal Data Safety

In its latest report, Aleo, a privacy oriented blockchain startup says that people are increasingly concerned about who controls their personal data.

They say that 67 percent are WILLING TO switch to a product that protects their privacy. That is different than they will switch.

They also say that people are more aware of privacy limitations of digital services.

Aleo also says that understanding of privacy issues is also improved because of mass advertising. For example, security firm CrowdStrike has run SuperBowl ads for the last two years.

Americans are also hearing about privacy laws elsewhere in the world, like in Europe where GDPR has been in force since 2018.

Cryptocurrency firms are the least trusted. Only 10 percent have a great deal of trust in those firms. The FTC says that US residents lost $1.56 billion due to crypto fraud in 2023.

Concern about data privacy varies among different generations. Baby boomers are worried the most (85%), Millennials and Gen X are not far off as well (77% and 74%, respectively), but a full third of the Gen Z grouping seem unfazed, with 68% reporting apprehension.

The challenge is that many of these tech startups have a business model that is dependent on stealing your data. Maybe they will read the study and figure out a different business model. Credit: Cybernews

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