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From Gdpr To Blockchain, Were Getting More Power Over Our Data

From Gdpr To Blockchain, Were Getting More Power Over Our Data

From GDPR to blockchain, were getting more power over our data Get ready for individual bank accounts for your personal data An earlier innovation: safety deposit boxes at Chancery Lane There were significant privacy violations in 2017: DeepMind's controversial data-sharing deal with the NHS ; Facebook's 110 million (98m) fine; Google's 2.4 billion fine; scammers selling personal data. We woke up to the idea that a few big companies, such as Google, Amazon, Facebook, Apple and WeChat, had used our data to become near-monopolistic entities. In 2018, EU regulations such as the General Data Protection Regulation and the Second Payment Services Directive will give consumers new rights and change their power relationships with these companies. And new technology such as private-data accounts will help us acquire ans use data for our own benefit. Private-data accounts are like individual bank accounts, but they contain personal information, not money. Hosted by data stores such as people.io , Cozy.io , digi.me and the Hub of All Things , of which I am the founder and chairman, many will let us legally own our own data, bringing it in and pushing it out as we wish, without our having to identify ourselves. And they will do this automatically or at the touch of a button. Inside these accounts, our data will become our asset, one to which we can give specific access rights in return for services. This will flip today's internet (in which we give up all of this data in return for access to services) on its head. A new generation of apps and websites will arise that use private-data accounts instead of conventional user accounts. Internet applications in 2018 will attach themselves to these, gaining access to a smart data account rich with privately held contextual information su Continue reading >>

Major Blockchain Group Says Europe Should Exempt Bitcoin From New Data Privacy Rule

Major Blockchain Group Says Europe Should Exempt Bitcoin From New Data Privacy Rule

Major blockchain group says Europe should exempt Bitcoin from new data privacy rule Since people can store personal data in blockchains, the technology could fall under the purview of the upcoming European change to privacy law. But blockchain technology may be fundamentally incompatible with Europes new privacy rules, Washington, DC think tank Coin Center said today in a new post . The General Data Protection Regulation (GDPR) will take effect on May 25th this year, more than two years after it was first signed into law. Under the new rule, if an EU citizen requests that their personal data be erased from a companys records, the company will have to obey. But with blockchain, a complete erasure of any stored personal data might not be possible, experts told The Verge. Modifying data on a blockchain is very hard, Oxford Law lecturer Michle Finck told The Verge, If you were to delete or modify data from the blockchain to comply with the GDPRs rights to amendment or the right to be forgotten, you wouldnt just change that piece of data, but the hash of the block containing the data and of all subsequent blocks. Finck added, I think its safe to say that currently, most blockchains are incompatible with the GDPR, especially permissionless blockchains. She said that although many blockchain projects are currently thinking about how to design tech that would be GDPR-compliant, the problem is that there are so many points of tension...way beyond the right [for personal data] to be forgotten. Its the basics of blockchain technology. By their very nature, transactions on a blockchain arent meant to be deleted but to be recorded permanently. It would also be difficult to stop every place transmitting a Bitcoin transaction. This is by design, Andries Van Humbeeck, co-founder and b Continue reading >>

Blockchain Ensures Transparency In Personal Data Usage: Being Ready For The New Eu General Data Protection Regulation

Blockchain Ensures Transparency In Personal Data Usage: Being Ready For The New Eu General Data Protection Regulation

Blockchain Ensures Transparency in Personal Data Usage: Being Ready for the New EU General Data Protection Regulation Guest editors: Elli Andoulaki (IBM Research Zurich), Matthias Jarke (RWTH Aachen University & Fraunhofer FIT) and Jean-Jacques Quisquater (Universit catholique de Louvain, Belgium, and research affiliate at MIT) by Uwe Roth (Luxembourg Institute of Science and Technology, LIST) The new EU General Data Protection Regulation (GDPR) [1][L1], which will come into effect in 2018, demands transparency as one of the main principles for the collection, processing, storing and transfer of personal data. Transparency ensures that individuals can enforce their legal rights: to withdraw consent for their personal data to be processed or to request that their data are erased. At the Luxembourg Institute of Science and Technology we filed a patent, based on blockchain technology, that guarantees transparency in the context of files that are exchanged in a shared data pool. It guarantees that access by partners to specific files can be traced without a central entity. Closed consortia who provide and exchange personal data between their partners need to understand the impact that the new General Data Protection Regulation (GDPR) of the European Union will have on their processes. In fact, it demands that the data controller must provide to an individual, upon request, information about the transfer of their personal data to third parties, third countries or international organisations. The legal counterpart and single point of contact for a person that provided their personal data will not be the consortium as a whole, but a single data controller partner who has collected the private data and published it in the data pool. This contractual partner needs to ensure tha Continue reading >>

Blockchain Powers A Personal Data Revolution

Blockchain Powers A Personal Data Revolution

Blockchain powers a personal data revolution 2017 will be the year blockchain is harnessed by individuals to take back control of their online lives, says Eddie Copeland. Though millions have benefitted from the rise of internet giants like Amazon, Facebook and Google, there is growing unease at the way they - and many companies like them - require or encourage users to give up significant control of their personal information in exchange for services. 2017 will be the year when the blockchain-based hardware, software and business models that offer a viable alternative reach maturity, ensuring that it is not just companies but individuals who can get real value from their personal data. The story behind this prediction starts in March 1989, when a little known CERN employee named Tim Berners Lee (now Sir Tim) wrote a short and innocuously titled paper Information Management: A Proposal . Described as vague but exciting by his then boss, Mike Sendall, it would literally change the world. It defined the original outline of the World Wide Web. First used by Sir Tims colleagues at CERN, in 1993 the organisation agreed to make the code and protocols that underpinned the web available to anyone for free. Today it is used by more than three billion people . Sir Tim has said of this open philosophy : Had the technology been proprietary it would probably not have taken off. You cant propose that something be a universal space and at the same time keep control of it. The promise to create that open and universal space led many to believe that the web would have a radically democratising effect. Citizens and consumers would be able to find ideas, information, products and services unmediated by companies, governments or other organisations. Anyone could publish whatever they want Continue reading >>

Blockchain Could Help Us Reclaim Control Of Our Personal Data

Blockchain Could Help Us Reclaim Control Of Our Personal Data

Blockchain Could Help Us Reclaim Control of Our Personal Data Its a strange world we live in when large companies such as Experian, Equifax, and TransUnion are able to store huge quantities of our personal data and profit from it in a way that doesnt benefit us. And when those same companies lose our personal data and make us susceptible to identity theft, theres virtually nothing we can do by way of retribution. However, technology may be able to help us wrest back control of our personal data. Encrypted distributed ledgers have big implications for identity systems.They would allow us to keep certified copies of identity documents, biometric test results, health data, or academic and training certificates online, available at all times, yet safe unless you give away your key. At a whole system level, the database is very secure, as each single ledger entry among billions would need to be found and then individually cracked at great expense in time and computing. Using smart, distributed ledgers to prove our identities and store our personal data could shift the power of (and profit from) data management from big, established firms back to individuals. Its a strange world we live in when large companies such as Experian, Equifax, and TransUnion are able to store huge quantities of our personal data and profit from it in a way that doesnt always benefit us. And when those same companies lose our personal data and make us susceptible to identity theft, theres virtually nothing we can do about it. Equifax lost the data of more than 140 million people , and recompense is not forthcoming. Meanwhile, the CEO may be stepping down with a pension worth $18 million . Clearly, the system is broken, and its time to stop and ask ourselves why we continue to rely on a system that d Continue reading >>

Blockchain Technology Is On A Collision Course With Eu Privacy Law

Blockchain Technology Is On A Collision Course With Eu Privacy Law

Blockchain technology is on a collision course with EU privacy law Those who have heard of "blockchain" technology generally know it as the underpinning of the Bitcoin virtual currency, but there are myriad organizations planning different kinds of applications for it: executing contracts , modernizing land registries , even providing new systems for identity management . There's one huge problem on the horizon, though: European privacy law. The bloc's General Data Protection law, which will come into effect in a few months' time, says people must be able to demand that their personal data is rectified or deleted under many circumstances. A blockchain is essentially a growing, shared record of past activity that's distributed across many computers, and the whole point is that this chain of transactions (or other fragments of information) is in practice unchangeable this is what ensures the reliability of the information stored in the blockchain. For blockchain projects that involve the storage of personal data, these two facts do not mix well. And with sanctions for flouting the GDPR including fines of up to 20 million or 4 percent of global revenues, many businesses may find the ultra-buzzy blockchain trend a lot less palatable than they first thought. "[The GDPR] is agnostic about which specific technology is used for the processing, but it introduces a mandatory obligation for data controllers to apply the principle of 'data protection by design'," said Jan Philipp Albrecht, the member of the European Parliament who shepherded the GDPR through the legislative process. "This means for example that the data subject's rights can be easily exercised, including the right to deletion of data when it is no longer needed. "This is where blockchain applications will run into Continue reading >>

Decentralizing Privacy: Using Blockchain To Protect Personal Data

Decentralizing Privacy: Using Blockchain To Protect Personal Data

Decentralizing Privacy: Using Blockchain to Protect Personal Data Abstract: The recent increase in reported incidents of surveillance and security breaches compromising users' privacy call into question the current model, in which third-parties collect and control massive amounts of personal data. Bit coin has demonstrated in the financial space that trusted, auditable computing is possible using a decentralized network of peers accompanied by a public ledger. In this paper, we describe a decentralized personal data management system that ensures users own and control their data. We implement a protocol that turns a block chain into an automated access-control manager that does not require trust in a third party. Unlike Bit coin, transactions in our system are not strictly financial -- they are used to carry instructions, such as storing, querying and sharing data. Finally, we discuss possible future extensions to block chains that could harness them into a well-rounded solution for trusted computing problems in society. Continue reading >>

Blockchain Data Protection Law | Deloitte Legal Deutschland

Blockchain Data Protection Law | Deloitte Legal Deutschland

IV. Potential conflicts with data protection law Blockchain applications are currently amongst the most discussed topics when it comes to the precursors of the fourth industrial revolution. Within the global Deloitte network, the Deloitte Blockchain Institute was founded in order to analyze and consult on the technical and economic potentials and risks of blockchain applications for sector-specific industries (e.g. telecommunications or media ). The following article deals with blockchain applications from the perspective of data protection law, in particular the Regulation (EU) 2016/679 of the European Parliament and of the Council of 27 April 2016 (General Data Protection Regulation - "GDPR"), which will enter into force in May 2018. In addition to an approximation to the term blockchain (cf. section I.), the main question addressed by this article is, to what extent this technology will impact on those areas of life that have been traditionally regulated by analogue law and institutions (cf. section II.). Finally, the potential of blockchain is briefly addressed as an instrument of data protection (cf. section III.) and explains the extent to which data protection law may create certain boundaries to potential applications of blockchain technology (cf. section IV.). As the term already suggests, one of the essential characteristics of a blockchain is the concatenation of blocks. More specifically, such blocks are comprised of a certain number of cumulative records, the contents of which are interconnected in such manner that each subsequent block contains a cryptographic image of the previous block. Thus it can be ensured that data cannot be manipulated unrecognized after the respective data has been entered into a block, completed and "attached" to a subsequent blo Continue reading >>

Blockchains And Personal Data Protection Regulations Explained

Blockchains And Personal Data Protection Regulations Explained

Blockchains and Personal Data Protection Regulations Explained Apr 26, 2017 at 13:30 UTC|UpdatedApr 26, 2017 at 16:34 UTC Jacek Czarnecki is an attorney at Warsaw-based law firm Wardynski & Partners, where he specializes in areas including fintech, digital currencies and blockchain. In this opinion piece, Czarnecki discusses data protection laws in the EU,outlining in an easy-to-read overview how they present both challenges and opportunities for industry innovators. Not a day goes by whenwe don't hear about a new application for blockchain technology. A cryptographically secure distributed ledger (secured by means of member consensus )is turning out to be the solution for many problems and inefficiencies in the world around us. And this isn't just about technological improvements or the reconstruction of business models: different blockchain use cases will leave a mark on the economy, society and, perhaps, also on politics. Blockchains - especially public ones such as bitcoin or ethereum - break many paradigms, including legal ones. We are thus entering an interesting transition period when successive applications of this technology will encounter legal norms not always adapted to the new reality. One of the more interesting examplesto look at is personal data protection. Legal regulations protecting personal data are of great importance in many areas where blockchains already exist: finance, healthcare, electronic identification systems, etc. And whilethe application of existingdata protection regulations in blockchain technology will cause issues, there are solutions. First things first,why are blockchains a challenge for the protection of personal data? There are three main reasons: Blockchains are decentralized and distributed. It is virtually impossible to identi Continue reading >>

How Blockchain Can Protect Our Personal Data From Hackers - Marketwatch

How Blockchain Can Protect Our Personal Data From Hackers - Marketwatch

The way companies store personal data is broken. The cybersecurity industry has mushroomed in recent years, but the data breaches just keep coming. Almost every day brings news of a new data breach , with millions of records compromised including payment details, passwords, and other information that makes those customers vulnerable to theft and identity fraud. Its bad news for the companies too, as not only do they face huge fines (which are only getting tougher), they also suffer serious reputational damage. These are not small, naive businesses; they are major, often global, brands. They spend millions of dollars on security and yet still find themselves suffering. The best way to avoid a data breach is to not store any data. That sounds obvious, but until now its been virtually impossible. Merchants need user names, passwords, payment details and other personal details to deliver their services. And they usually need to keep hold of that information which means there are or thousands of databases worldwide containing some of your most sensitive personal data. No one would leave a written list of all their personal details at every physical store they go into but online we do it all the time. No wonder the Webs inventor, Tim Berners-Lee, said in March 2017 that Weve lost control of our personal data. Bring on the blockchain. The advent of decentralized blockchains means we now have the opportunity to store, share and pay in a completely new safer way, which puts the user back in control. The existing data security model is clearly dead. Blockchain is the fundamental change we need to protect both consumers information and businesses reputations. A combination of biometric security on your device, and the blockchain principles of private keys controlled solely by the Continue reading >>

Blockchain And Data Protection Law: When Anonymous Data Becomes Personal

Blockchain And Data Protection Law: When Anonymous Data Becomes Personal

Blockchain and Data Protection Law: When Anonymous Data Becomes Personal December 2017 - Blockchain | Data Protection & Privacy | IT Law | GDPR Blockchain and Data Protection Law: When Anonymous Data Becomes Personal Data processing on a blockchain is widely perceived to be completely anonymous and therefore immune to data protection laws which are applicable only for processing of personal data. However, this perceived immunity is not at all absolute rather, data processing on a blockchain may fall under data protection laws. Lawyers Natalie Eichler and Thorsten Jansen demonstrate some current and future applications of blockchain technology where data protection laws may in fact apply. At first sight, data stored on a blockchain appear to be anonymous, consisting mostly of hashed values and cryptic wallet ID numbers which cannot be directly linked back to the individual to which they relate. As a result, some may assume that, due to the apparent anonymity, there is no room for the application of European data protection laws. Data stored on a blockchain may not be considered anonymous, but as personal data, because the individual person is identifiable. In fact, a closer look at European data protection laws pertaining to the identifiability of an individual person reveals that data stored on a blockchain may not be considered anonymous, but as personal data, because the individual person is identifiable. According to recital 26 of Directive 95/46/EC and recital 26 of the GDPR , when assessing whether an individual person is identifiable, all sources of information and all measures must be considered that are reasonably likely to be used to identify a person. This includes measures and information sources available not only to the person currently processing the data Continue reading >>

In Control Of Personal Data - Exclusive Interview With Cambridge Blockchain

In Control Of Personal Data - Exclusive Interview With Cambridge Blockchain

In control of personal data - exclusive interview with Cambridge Blockchain The Paypers has sat down with with Nadim TakchifromCambridge Blockchainto find out more about authentication and meeting KYC requirements using blockchain What is Cambridge Blockchain for those who do not know it yet? Could you name some of your business partners, services and target markets? Founded in 2015 by Alex Oberhauser, Alok Bhargava, and Matthew Commons, Cambridge Blockchain provides digital identity software for financial institutions. Our company explicitly incorporates GDPR standards for consent, data minimization, the right to be forgotten, data controllership, and data security. The software solutions that we provide can also be applied in other markets in the health, travel or education industry. Together with our partner LuxTrust, we will be going live in 2018 with over half a million end users in Luxembourg. LuxTrust is a trust services provider, owned by the government and other six major banks in Luxembourg, which issues digital certificates and digital signature. These can be used for a common authentication or access token, enabling all Luxembourg residents access their bank accounts, government services or pay their taxes. Thus, later in 2018, everyone that has a LuxTrust authentication service will also have a Cambridge Blockchain personal data service that stores all of their structured identity data. We also signed a strategic partnership with IHS Markit through their subsidiary kyc.com. Cambridge Blockchain will complement IHS Markits existing services around KYC and AML checks by offering integrated reference data, operations, and software to support utilities for the collection and management of KYC information. In January 2017, Cambridge Blockchain closed its first Continue reading >>

Personal Data Is Worth A Lotheres How Blockchain Can Help You Monetizeit

Personal Data Is Worth A Lotheres How Blockchain Can Help You Monetizeit

The future of search is here! Worlds First Decentralized Search Engine Ecosytem. Blockchain based. Check Desearch.com Personal Data is Worth a Lot Heres How Blockchain can Help You MonetizeIt Personal data is rapidly becoming one of the most valuable things in society. Something that most people didnt even consider just a few decades ago is now a huge part of the way we conduct our day-to-day lives. In simple terms, personal data is the name given to facts and figures about us that are collected to be used or analyzed in some way. When it comes to our online activity, our personal data includes things like our browsing habits, the content we share, our internet history, and much more. This information is extremely valuable to companies, for lots of reasons. Knowing what people are searching for and understanding their desires can help marketing companies to laser-focus their advertising on just the right people. The content you share on Facebook can be used to generate traffic to the site, bringing in more customers and boosting profits for the owners of the network. Every time we use social media, search engines, or allow companies to access our data in any way, were generating something highly useful and valuable. Although our data is worth potentially millions of dollars, we dont get to see any of that money, because we dont own our data. When we post on social media, that content is owned by the network. When we use a search engine, the details of the search are owned by the service provider. Every day, ordinary internet users are providing billions of dollars worth of data to companies for free. Companies use this totally free resource to make business decisions, sell to marketing companies, and draw people onto their websites. Meanwhile, the actual creators of th Continue reading >>

How Does The Eus Gdpr Apply To Hashed Data On The Blockchain?

How Does The Eus Gdpr Apply To Hashed Data On The Blockchain?

How does the EUs GDPR apply to hashed data on the blockchain? Despite blockchains superior technical capacity for data privacy and security, lack of control over personal data is a major issue for the many companies subject to the EUs new digital data privacy lawthe General Data Protection Regulation (GDPR)which comes into effect May 2018. In May 2015, the European Commission published its Digital Single Market strategy, designed to produce a seamless commercial market across national borders to improve online access to goods and services, set a level playing field for competing firms, and spur economic growth. As part of this regulatory harmonization, the EU adopted the GDPR to facilitate net neutrality, cloud computing, access to big data and protection of citizens personal data. Traditionally, Europe has followed stricter standards of data privacy than their American counterparts who often place a stronger emphasis on free expression and access to information. The GDPR focuses on digital identity governance , to give citizens more control of their personal data, limit the scope of lawful data processing by data controllers and enforce 1) a right to erasure of data, aka the right to be forgotten, 2) a right to data portability, and 3) a right to consent to uses of ones personal data. Enter blockchain, dubbed data protection by design and default in which data is either two-way encrypted, so as to be unreadable without a private key, or hashed in one direction. Blockchain hashing is very important for commercial functions like automated cross-border authentication of documents that do not contain personally identifiable information. But what happens when personal data is being processed in a blockchain? The GDPR does not apply to anonymized data that cannot be traced Continue reading >>

How Blockchain Can Revolutionize Personal Data Storage?

How Blockchain Can Revolutionize Personal Data Storage?

You are here: Home Security How Blockchain Can Revolutionize Personal Data Storage? How Blockchain Can Revolutionize Personal Data Storage? Blockchain, the technology underlying the cryptocurrency Bitcoin , is modeled to revolutionize as per the nature of commercial transactions. Bitcoin is a non-governmental and peer-to-peer currency, and it is the first currency of its nature. Bitcoin is famously known as a virtual currency, and its maker is trying to make it equivalent to the currencies issued by the government. Unlike other currencies issued by a central bank, the Bitcoins have no support from governmental institutions. Bitcoins are generated through mining process. The blockchain is not an official currency, but it is a system to clear, settle, track, record and validate the ownership of assets as they are traded. A growing number of institutions and services are shifting their transaction systems to those based on blockchain technology. It is all because of reliability and flexibility the blockchain offers. Nowadays we can observe a leap in popularity of services and platforms, intended to be used for Bitcoin exchange and trading . The Bitcoin blockchain is a popular technology that involves ledges transaction to maintain the network of servers known as nodes. Every node manages a ledger reflecting the possession of assets. The blockchain ledger is disseminated because it is controlled simultaneously on all of the nodes in a network. It is easy to obtain a complete and continuous record of all transactions from its origination. Valid transactions are entered into the blockchain ledger in blocks or group with the help of cryptographic methods to confirm the reliability of all transactions. The transactions are recorded in the blocks to chain all of them in a ledge Continue reading >>

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