Vulnerability to data breaches proves blockchain can’t solve anonymity or protect core IP information.
Jean Rivière 18. Studied business and computer science at the Technische Universität München. “Blockchain technology and IP – investigating benefits and acceptance in governments and legislations.” Junior Management Science., 1-15-2018. https://jums-ojs3test.ub.uni-muenchen.de/JMS/article/view/5006 //
From a technical perspective, Blockchain does not support anonymity. ¥ Steven R. Gordon, Professor of Information Technology Management at Babson College, 7 points out, “[h]aving data disperse throughout the Blockchain presents its own privacy concerns, because public Blockchain transactions are pseudonymous and users can take steps to hide their identity, but ultimately anonymity is not guaranteed.”'*® Blockchain is vulnerable to breaches of transactional privacy because any unscrupulous user can relate your “pseudonym® (your public key code) to your account address by analysing information about relevant transactions. Once an individual’s address is known, it is also possible to identify the details and value of all transactions made from that address.'*’ For companies, transaction records may also reveal trade secrets. Steven R. Gordon concludes “[t]heoretically, yes, Blockchain can solve data privacy issues, but practically, no.” '** While “anonymisation technologies” including Dash, Monero and Zcashare in development, 151 these tools are still in their infancy. Significant concerns remain over Blockchain’s ability to protect privacy and data.'>