Blockchain systems for storing personal data

Blockchain Systems for Storing Personal Data. In this document, the author identifies that there are three main problems of traditional personal data storage and management systems: privacy, security, data availability. The author also researches possibilities of developing blockchain technology-based personal data storage and management applications, analyzes the advantages and disadvantages of such systems over traditional digital and real solutions. The analysis concludes that blockchain technology-based personal data storage and management systems have both advantages and disadvantages over traditional systems. Advantages: by applying decentralization, zero-knowledge proof method, decentralized identifiers, self-sovereign identity management systems are created. Therefore, the problems arising in traditional systems are solved. Disadvantages: the application of blockchain technology in the personal data sector is a relatively new solution and it will take a long time to integrate such systems into society. Second, the principle of operation of this technology is quite difficult for the average person to understand and this may undermine the popularity of such solutions. Third, the use of existing blockchain networks running a proof of service (PoW) algorithm (e.g., Bitcoin, Ethereum) may suffer from system scalability as the number of users increases. The fact that blockchain technology-based personal data storage and management systems address the problems of traditional systems demonstrates that taking into account the disadvantages in the further development and expansion of blockchain technologybased personal data storage and management systems, they might be able to replace currently used traditional systems