While thousands of companies and entities await to catch people's data for various reasons, the commonly stated idea that folks don't care about privacy is untrue, according to the Electrical Coin Visitor, the entity backside privacy-focused crypto asset Zcash.

Citing inconvenience and other excuses, some people claim they practice not care almost privacy, Electric Coin Company Product marketing staff Elena Giralt said in a presentation at CoinDesk's digital Consensus 2022 conference. She added, however:

If yous take a step dorsum, it's helpful to sympathise that billions and billions of dollars go into developing technology platforms and systems to harvest data considering at that place's a really lucrative business organization model behind it."

The digital age is a data grab

As more of the world goes digital, entities often look to harvest customers' information, both for illegal and legal uses.

Numbers from 2022 show that nefarious parties stole data from 500,000 Zoom customers, while Facebook saw information leaked from xxx million users in 2022. Google even harvests users' data on a regular basis as part of a acquirement model of "legally acceptable" privacy infringement.

Businesses status the public to care less almost privacy

Applied science outfits use various measures to make privacy wait similar an unachievable hassle, Giralt noted. The Electrical Money Company staffer quoted Carnegie Mellon Academy researcher and professor Alessandro Acquisti equally proverb:

When somebody tells you that people don't care about privacy, consider whether the game has been rigged so that they cannot intendance about privacy."

Even in the crypto space, transactions are not individual. Most blockchain activity is posted online to an immutable public ledger. Assets such as Zcash (ZEC) and Monero (XMR), however, house features catering to privacy-focused users, blocking the world from peering into people's funds and activities.

"The big idea is that our virtual lives need crypto privacy," Giralt said. "Crypto needs privacy and privacy needs protection."

Rand Corporation recently put out a inquiry written report showing that criminals are not embracing Zcash en masse, even though the asset is privacy-focused.