Secure Storage of Sensitive Data in the Blockchain

Abstract

The use of blockchain technology provides the opportunity to securely store data, as it is based on a decentralized solution. The data is saved with the help of nodes. If the university database were to be damaged, it would certainly hurt the good reputation of the university. Consequently, the research aims to create a database suitable for sensitive data storage, which is capable of long-term safe storage of data. In the research, one of the major shortcomings of blockchain technology is revealed, such as the appropriate regulation and the missing legal background, because of which the acceptance of the blockchain faces many obstacles, both in the state and in the public sector. To solve this, the market should be regulated to avoid speculation, and blockchain technology could also be integrated into education. Blockchain technology provides the opportunity to securely store data, as it is based on a decentralized solution. The data is saved with the help of nodes. The research aims to reveal what decentralized secure blockchain-based data storage solutions are available today. Another goal of the research is to examine how data storage can be made convenient and automated in a Peer-to-Peer environment. As part of the practical realization, a blockchain called PDC (Private Data Chain) will be created, where sensitive data can be securely uploaded in the future. To automatically store the data, an Ethereum-based smart contract will be written.