Friday, March 29, 2024

personally identifying information

by Hideo Nakamura
personally identifying information

## What is Personally Identifying Information (PII)?

Personally identifying information (PII) is any data that can be used to identify an individual. This includes, but is not limited to, a person’s name, address, phone number, email address and social security number. It also includes biometric data such as fingerprints or facial recognition scans. In the context of cryptocurrency transactions and investments, PII may include records of digital wallets and exchanges owned by an individual user.

PII is considered highly sensitive due to its potential for misuse in identity theft or fraud. As a result, governments around the world have implemented regulations governing how organizations must protect this type of information when it is collected from customers or employees. For example, under the European Union’s General Data Protection Regulation (GDPR), companies are required to take measures such as encryption and pseudonymization to secure sensitive PII data when it is stored or transmitted electronically.

## Why Is Protecting PII Important?

Protecting personally identifiable information (PII) is important because it helps ensure individuals’ privacy and security online. When someone’s PII falls into the wrong hands via malicious actors like hackers or scammers – whether through a breach at their bank or medical facility – they become vulnerable to identity theft and other forms of financial fraud which can have long-lasting consequences on their lives. Furthermore, if users’ personal details are leaked without their knowledge during cryptocurrency transactions then they could face further risks including unauthorized access to funds held on exchanges/digital wallets linked with those accounts as well as public disclosure of sensitive transaction history which could affect their professional reputation should employers discover them searching for publicly available blockchain explorer tools with names associated with past wallet addresses in order establish links between various parties involved in certain transactions made using cryptocurrencies . Taking steps such as encrypting passwords/data stored within digital wallets and regularly checking for updates regarding compliance requirements for preventing what constitutes “potentially revealing” personal info being visible within public blockchains will help reduce these risks significantly when investing in crypto assets over time .

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