Why PWC's Data Privacy Breach is a Wake-Up Call: Future of Data Privacy and Security

July 13, 2023

PWC’s recent global cybersecurity breach has sent shockwaves through the business world, causing millions of customers to question the safety of their personal information and highlighting the risks of traditional data storage methods.

Cybercriminals who targeted PwC and other companies gained access through a third-party application called MOVEit. The breach resulted in the theft of sensitive data and highlighted the risk of using third-party apps for data storage and transfer.

Hackers have stolen data from entities including US federal agencies, Shell and the BBC. These companies were given ransom demand, or sensitive information would be released online. 

The breach is growing larger as more companies reveal they are experiencing cyberattacks. 

The Dangers of Holding Sensitive Information: Why ShareRing Never Does It

The PWC data breach is a wake-up call for businesses and individuals alike. 

At ShareRing, we believe that data privacy is a fundamental right, and our Self-Sovereign Identity Solution (SSID) stands against the risk of traditional data storage methods. 

Our vision with institutional-grade verification technology is to enable a frictionless experience for companies to help secure everyone’s digital future by adopting digital identities.  

Businesses and individuals trust our solutions built on self-sovereignty and total control over their privacy. 

With ShareRing’s blockchain infrastructure, we ensure user control and security, with no sensitive data stored by us. ShareRing eliminates risks associated with centralized data storage and potential breaches. Any data remains encrypted and secure, and zero sensitive data ever leaves the user's device. We invite you to join our mission to protect data privacy and take control of personal information.

The Future of Data Privacy: ShareRing's Role in Disrupting the Industry

It's time to take data privacy seriously and adopt innovative solutions that regain users' control of their personal information with self-sovereignty.  

At ShareRing, our solutions are ultimately safer than those offered by big companies today. 

We’re committed to ensuring that data privacy remains a fundamental right. 

Our next sprint will focus on implementing a zero-knowledge information architecture on our apps, eliminating users’ names from our database for maximum data privacy and security. This aligns our stance closer to the principles of the General Data Protection Rules (GDPR).

We only collect user email addresses to share important announcements that benefit their ShareRing experience.

Join our data privacy and security discussion by checking out our newly-launched Discord community today! 

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