According to CCinsight March and April of 2020 have been one the most impressive months for e-commerce so far, with the growth of year-over-year e-commerce hitting at the 70-100% rate. Previously, this kind of increase occurred only during the holiday season.
Stay-at-home orders caused a massive increase in online shopping activities, but now we are slowly returning back to normal. What will that mean for our shopping habits? According to Forbes, it is very likely that online grocery, apparel, and entertainment shopping will replace store and mall visits permanently, or at least until a vaccine is available. The curve of e-commerce activities will probably flatten during the time when the pandemic will be revoked and certain measures won’t be in place anymore, but the new habits are probably here to stay, especially because more and more brands now heavily prioritize e-commerce.
In general, consumers care about their privacy online, however only seldom are informed about data management, and there are even fewer who take actions to protect their data. For example, 2019 Tealium Consumer Data Privacy Report surveyed 1,000 consumers in the USA about their relationships with brands and personal data privacy. They discovered that almost all (97%) consumers are somewhat or very concerned about protecting their data. Still, most consumers (62%) generally don’t read online terms or privacy policies, and nearly 70% of respondents had not heard of GDPR (General Data Protection Regulation) or CCPA (California Consumer Privacy Act).
Similar data also apply to the European Union, where GDPR was enacted on the 25th of May 2018. Various surveys conducted in 2019 show that 67% of Europeans have heard of the GDPR, and 57% of Europeans know that there is a public authority in their country responsible for protecting their rights about personal data. Good news is that individuals are lately increasingly contacting data protection authorities about GDPR and lodge complaints about the respect of their rights. Despite the better awareness, the total number of queries and complaints from all data protection authorities remains rather small, comprising 144,376 cases from May 2018 through 2019 altogether.
All in all, the situation in the USA and the European Union is not that different as even though people are aware that their data privacy is essential, they don’t do much to preserve it in practice. This fact has probably not changed during the occurrence of covid19, however, it will be interesting to monitor the newest data for 2020.
If we take into the consideration that databases are vulnerable and often attacked by hackers, the consumers should be proactive in demanding the protection of their data and privacy. One of the possible solutions to achieve that is certainly through a secure digital identity.
For that, we at Netis, have developed Self-Sovereign Identity backed with blockchain technology, that ensures the following:
AceId is a secure authentication protocol that combines the following concepts: self-sovereign identity (SSI), data access management controlled and recorded via blockchain, end-to-end encryption and verification. These elements guarantee each user has complete control over who they share their data with, and for how long.
Since the blockchain is generally public, anyone can get information about the existence of the link. However, it is impossible to see what kind of data is stored on a given address. The data can be seen and read-only with a user’s private key used for their decryption.