Abstract— The modern society, economy and industry have been changed remarkably by many cutting-edge technologies over the last years, and many more are in development and early implementation that will in turn led even wider spread of adoptions and greater alteration. Blockchain technology along with other rising ones is expected to transform virtually every aspect of global business and individuals’ lifestyle in some areas. It has been spreading with multi-sector applications from financial services to healthcare, supply chain, and cybersecurity emerging every passing day. Simultaneously, in the digital world, data protection and privacy are the most enormous issues which customers, companies and policy makers also take seriously into consideration due to the recent increase of security breaches and surveillance in reported incidents. In this case, blockchain has the capability and potential to revolutionize trust, security and privacy of individual data in the online world. Hence, the purpose of this paper is to study the actual cases of Blockchain applied in the reformation of privacy and security field by discussing about its impacts as well as the opportunities and challenges.