Recent awareness about Privacy has grown due to different events, two major examples being Facebook - Cambridge Analytica scandal and introduction of GDPR. People are being forced to give their personal data, whether it's identification or profile data like interactions on social media or even access to chat and email history, in order to use specific third-party applications, which can sell the data under the counter.
This issue is especially important when using sensitive data or intellectual property (IP). Simple examples are business tools like Asana, Trello, Slack, private GIT repository platforms and many other. You can easily take a new device, log in to one of these apps, and instantly have access to the history of the chat, source code or IP documents. Even if the data is stored encrypted, these apps hold the decryption keys and mechanisms necessary to decrypt, so they can access the data anytime. Also, because the user data is accessible, the state or government can request it.
The European Union has introduced the General Data Protection Regulation (GDPR) that tries to solve the privacy issue by law enforcement. This is similar to laws forbidding guns or drugs. Does it stop dealers from doing their job? No, people who are ill-intentioned will always find ways to hide it from law enforcement and go under the radar.
But what if we could find a way to make all guns and drugs instantly disappear? The dealers won't be able to do anything about it. This is the solution we are presenting: a way for the end-user to be the only one to hold or access the data unencrypted, and when a third-party application asks for a specific data, they will always get it encrypted, and the only way to process it would be on the decentralized network through the use of smart contracts. The result of the processing could be returned to the end-user directly and/or encrypted to the third-party app. Also, the data could be stored in the blockchain or a similar technology.
A specific example would be a Facebook App that offers personalized recommendations based on the user likes and shares. Instead of giving away the plain data to the 3rd party app, the user, which has the data saved encrypted on Facebook, grants the app access to process his data. That app fetches the encrypted data from Facebook (unless the data is stored on the blockchain), which they can store locally, and then it does a request to the smart contract they wrote to do the processing and it receives a list of recommendations that can serve to the user, or if the data is stored on the blockchain, the user fetches the recommendations directly from there, so that the end-result never reaches the app's servers.