In today’s world, personal data is at the heart of industries like online banking, healthcare, social media, and business transactions. But with all this sensitive information floating around, how can businesses keep it safe and still use it to their advantage? That’s where Privacy-Enhancing Technologies (PETs) come in. They help businesses process data securely, gain insights, and protect privacy—all without compromising security. Whether it’s making healthcare records accessible, processing financial transactions safely, or analyzing user behavior on social media, PETs make it possible.
In fact, the Information Commissioner's Office (ICO) actually encourages businesses to adopt PETs as part of a solid, privacy-first approach. By using these technologies, businesses can reduce the risk of data breaches and make it easier to comply with strict regulations like GDPR and CCPA
PETs ensure that only necessary data is used, in line with data minimization principles, and can shield sensitive information from unauthorized access. PETs also allow data to be split for different uses, maintaining both security and integrity without compromising its value.
There are several types of PETs, each designed to meet specific privacy and security needs. Let’s take a look at some of the key PETs that help businesses secure data while maintaining privacy:
Multi-Party Computation (MPC): Allows multiple parties to compute results using their private data without revealing any of it—great for secure collaboration.
Zero-Knowledge Proofs (ZKPs): Let one party prove something is true without sharing the underlying details—like confirming something without spilling the whole story.
Trusted Execution Environments (TEEs): These are secure spaces that protect sensitive data during processing—think of them as digital vaults.
Homomorphic Encryption (PHE): Enables computations on encrypted data without decrypting it, keeping it secure during analysis.
Differential Privacy: Adds noise to data to protect privacy while still providing valuable insights from the overall dataset.
When it comes to the practical side of things—like the costs and benefits—businesses may wonder how adopting PETs will pay off. To help with that, the ICO has released the PETs Cost-Benefit Awareness Tool, which helps businesses evaluate whether adopting PETs makes sense for them. While this tool can provide valuable insights, it’s worth diving deeper into in a separate post, so stay tuned for more on that!
Verifoxx’s Unique Approach to Privacy
At Verifoxx, we’re embracing a global shift toward decentralization, where data control stays with individuals and organizations instead of being in the hands of central authorities. This approach is crucial, especially in industries like finance, healthcare, and supply chain management, where security and regulatory compliance are top priorities.
We don’t rely on a single privacy solution. Instead, Verifoxx integrates multiple Privacy-Enhancing Technologies (PETs)—such as MPC, ZKPs, PHE, and TEEs—into one unified, cross-platform framework. This enables us to securely verify and share all types of data, whether it’s numerical or non-numerical, structured or unstructured. By combining these PETs, Verifoxx is able to address the complex data needs of modern businesses while ensuring privacy and security across industries.
The Importance of Adopting PETs for Business Growth
Adopting PETs isn’t just about compliance—it’s about building trust with your customers and staying ahead in a privacy-conscious world. These technologies help businesses process and share data securely, protecting privacy along the way.
Investing in PETs shows that a company values its customers’ data and is committed to keeping it safe. This not only boosts customer loyalty and brand reputation but also opens new business opportunities as data protection becomes a key differentiator.
Want to learn how Verifoxx can help your business achieve data privacy? Get in touch with us!
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