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Aleo Network Foundation reports ongoing concerns among technology sector consumers, with data privacy and security being major worries, particularly in the cryptocurrency sector. The 2024 Data Privacy Report revealed that 77% of the 2,217 respondents are very or somewhat concerned about data privacy and security in their daily lives.
Technology Sector and Data Security
Almost half of the survey participants stated that data privacy and security are currently the most worrying issues affecting the technology sector. These concerns are not just from past generations of tech skeptics; in fact, worries about data privacy span generations. Baby Boomers at 85%, Generation X at 77%, Millennials at 74%, and tech-savvy Generation Z at 68% expressed concern.
In an industry where users must provide sensitive information for their digital activities every day, data and privacy concerns are not new, but this year there are more reasons for users to think twice. Only 10% of participants said they have a lot of control over the data they provide to companies, while the majority only feel they have some control.
These concerns may continue to grow in the face of new and potentially more invasive technology innovations, such as powerful artificial intelligence models that have caught major tech companies like Google in the crossfire of data breach lawsuits.
Cryptocurrency Sector and Security Issues
Consumer concern about data privacy and security is even greater when it comes to cryptocurrency companies. According to the report, only 10% of survey participants trust the industry’s commitment to data privacy and security, with older generations being the most concerned. However, the survey characterized this issue as a problem for people of all ages and backgrounds.
Regarding the issue, Aleo Network Foundation‘s CMO Brennen Schlueter described the report as a critical barometer for understanding the evolving dynamics in the cryptocurrency ecosystem and commented:
“The report highlights the urgent need for industry-wide improvements in data privacy and security to pave the way for mass adoption. As the sector matures, this report calls for a collective effort among stakeholders to raise standards and practices, ensuring the inherent privacy and security benefits of blockchain technology are fully realized and communicated.”
