"the central database could expand and increase the security risk"
That's one problem for a start: a single, centralised point of vulnerabliity. It needs to be decentralised and permissionless, that each contributing individual could control the amount of data they wanted collected and stored - using their own "keys" for instance. And the source code should be made public so it can be analysed for areas of fragility and potential hacking. Personal data should be anonymous rather than anonymised. With the latter, personal information can be retrieved by clever cross-referencing of data. See: