Securing data with distributed ledger technologies

At TM Forum's Digital Transformation Asia in Kuala Lumpur this November, Paul Loeffler, Managing Partner, Institute 4 Entrepreneurship will be part of a panel discussing how to manage customer privacy and personal data. Hear some of his insights below before the big event. In my last blog post before TM Forum’s Digital Transformation World in Nice this year, I introduced the possibilities and advantages of using distributed ledger technologies (DLT) sometimes called blockchain to secure personal and private data. A DLT combined with the massive compute power (“The supercomputer in your pocket”) that exists on each of our mobile phones could offer many important services including managing and encrypting the private and personal data generated by our modern lives. As discussed in our panel in Nice, there has already been much discussion and regulation about privacy around the world, especially in Europe and the US. These discussions have not disappeared, but have in fact continued, and accelerated. In that time, we have seen important developments by two big players in the tech industry: As Facebook looks to be embroiled in debates and attacks from all sides and for many months if not years – many believe the project will never see approval. The Apple announcement is relatively under the radar, and by seeding its initiatives with its development community, there is a real possibility that these toolkits will gain traction and begin to appear in apps. With this approach, Apple is preparing the platform to deliver on its imperative to secure personal and private data for its customers. Indeed, this is a dramatic differentiator from the competition: Google/Android and Facebook. As the telecom industry continues its digital transformation journey amplified by the 5G rollout, thinking about new services and products must be top of mind. Again, Apple offers two excellent examples with Airpods and Apple watch. High quality intelligent products for consumers can engage and extend the relationship with the customer. Fashion products that combine design, brand and functionality can be a differentiator. Personalized, modern products will bring value to consumers and communication providers can leverage new data usage and discover new consumer behavior. For example: Motiv Ring. Consumers today and more so in the future will want to secure their personal and private data. They will look for providers that can combine that with fashionable and functional products that enhance their experiences. We look forward to continuing this and other discussions at Digital Transformation Asia in Kuala Lumpur in mid-November.

1. In mid-June Facebook announced in a white paper (as is typical of the crypto world) in a whitepaper, a digital currency known as the Libra association, founded by various corporate partners in Switzerland. It also announced Colibra, a wallet for storing and using a digital currency. Like many crypto initiatives, the actual launch of the platform was still a year off. This announcement caused much uproar and is still doing so.
2. With two new software development toolkits, Apple is stepping up privacy and personal data control, as well as securing data sharing.
   1. At the Apple World Wide Developer Conference (WWDC) in early June, the company announced a developer toolkit, Crypto Toolkit, albeit much more quietly than Facebook. The toolkit gives developer tools to encrypt data and interact with DLTs.
   2. At the same event, Apple announced “Sign in with Apple”, a set of tools for developers allowing app users to share login information to their apps. This comes in direct competition with incumbents Google and Facebook, who provide the same capabilities. Even more important is that this will be a mandatory addition to all Apple App Store apps.