Recent figures reveal that cybercrime inflicted losses of $298 billion on German companies alone in 2024, with 90% of surveyed businesses expecting damages to rise further. The primary targets? Sensitive data like intellectual property, patents and user credentials. These alarming statistics underscore the urgent need for more secure and scalable data infrastructure to mitigate cyber risks.

While blockchain technology is often safe on the layer 1 protocol level, its application in enterprise-scale data management is still evolving. Traditional centralized systems often prioritize convenience over security, leaving vulnerabilities that cybercriminals exploit. Though blockchain’s promise of security and data sovereignty is clear, its enterprise adoption has been hindered by challenges in scalability, accessibility and speed.

Large organizations such as Florida-based National Public Data (NPD), which experienced a colossal breach earlier in mid-2024, frequently dodge accountability and transparency. That highlights the mounting problem of centralized companies having this much control over sensitive data: Their primary concern is protecting themselves, and not users.

Luckily, the subset of the blockchain sector focused on data sovereignty has made great strides. While much of industry conversation has surrounded Bitcoin and Ethereum ETF inflows, data security impacts the entire underpinning of our election and financial institutions —- we would be wise to start paying attention to the infrastructure under development.

Governments such as the State of Rhode Island have started to adopt blockchain technology for use in business registration and land titling, however, politicians and decision-makers at the government level remain wary of blockchain infrastructure due to its affiliation with crypto schemes such as FTX. 

These solutions are in a unique position to continue expanding while acquiring even more legacy cloud computing solutions. What is currently missing is th

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Author: Jessie Dai