Extract from an article by Claudio Lima
Data protection and privacy, among others, are two important reasons for the global enthusiasm around Blockchain and why the technology is transforming the way trusted, transparent, and traceable transactions occur across the Internet.
So it’s ironic that much of the initial reaction around Blockchain relative to General Data Protection Regulation (GDPR) is that the technology is an ill fit for the new European Union directives intended to enhance the protection and privacy of consumer data. It also happens to be a superficial and unhelpful misassumption. A closer look at Blockchain’s underlying concepts and technologies reveals how the technology improves the fundamental aspects of data privacy and security specified in GDPR, depending on how this solution is designed to meet the GDPR needs.
The fundamental challenge is adapting the new decentralized peer-to-peer Blockchain Internet technology for GDPR directives that are fundamentally predicated on the traditional centralized Internet approach.
Alternative Blockchain techniques allow for implementation oriented toward GDPR compliance. These techniques demand a thorough comprehension of Blockchain distributed ledger technologies (DLT), as well as their ecosystem. Blockchain’s identification management processes, such as the ones that store and process personally identifiable information (PII), are crucial in designing GDPR-compliant solutions.
- Foundational, Not Disruptive: The Truth About Blockchain
- The National Institute of Standards and Technology (NIST) Blockchain Technology Overview