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Gdpr Compliance And Blockchain

Gdpr Compliance And Blockchain

How are two of the biggest technology issues of today linked? There are concerns that the now-active General Data Protection Regulation ( GDPR ) and distributed ledger technology are incompatible, most likely stemming from the notion that, by virtue of a blockchains inherent public and transparent nature, it is far too accessible to be safe for enterprise use. This is not actually the case. While transactions can be seen occurring across the network, the data in and of itself is not stored on the blockchain instead, a cryptographic hash is derived from the data and is then uploaded. What is GDPR? Everything you need to know Blockchain-based platforms enable the storage and provenance of data to be conducted in an anonymous fashion protocols can be built in such a way that allows for the destruction of certain data sets, in compliance with GDPR requirements. Contrary to popular belief, and given that blockchain solutions will use such a mechanism, GDPR will see increased adoption of blockchain tech. If anything, GDPR has prompted a renewed understanding of the importance of secure data storage. It is doubtful that the legislation will interfere with existing or future blockchain systems (provided, of course, that these are truly distributed), which aim to put information back in the control of its owners. First passed into law in April of 2016, the EU GDPR regulations came into effect on May 25th, 2018. As the EUs response to an increasingly theft-prone personal data environment, these regulations aim to protect consumer data integrity and enforce enterprise security measures focused on such. One of the defining features of the new regulations is that of privacy by design. Rather than building a system and adding privacy and security as a secondary concern, the EU stipu Continue reading >>

Gdpr Vs Blockchain: Technology Vs The Law

Gdpr Vs Blockchain: Technology Vs The Law

One of the biggest impacts that GDPR will have for consumers (citizens of countries that comply with GDPR, at least) is the right to be forgotten. A person can request that they be removed from a record. What if the record is part of a blockchain? This poses a challenge for blockchain implementations. Blockchains are designed to last forever. Each block has a hash based on its contents, and carries the hash of its predecessor. So when you look at a block on a blockchain, you can trace the block back through its predecessors to the founding block. Changing the contents of a block changes the blocks hash. If a blocks hash changes, the successor blocks will no longer reference it. They point to the original, valid, block. Rebuilding the chain with the replacement block means the hash for each successive block will have to be recalculated, which is an enormous computational task. In Figure 1, we see part of a blockchain showing three blocks. Block 36 contains the hash for block 35, some data (DATA yyyyy) and its own brand new hash (HASH 36). Note that some of the data may include the identity of the creator of that data the miner who computed the hash. If the data changes, the value of HASH 36 will change. For a distributed blockchain, the problem of modifying the chain becomes vastly more difficult. Not only will the hash for the changed block and all successive blocks have to be recalculated, but each copy of the blockchain will have to be replaced, on each machine it resides. Anyone who has ever sent an erroneous email to a group knows how hard it is to recall all those copies. Since blockchains are effectively indelible, any record containing personal information about an individual cannot be altered. Further, any individual who creates a block on a blockchain is affil 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 >>

Achieving Gdpr Compliance And Data Privacy Using Blockchain Technology

Achieving Gdpr Compliance And Data Privacy Using Blockchain Technology

Achieving GDPR compliance and data privacy using blockchain technology CxOs, data engineers, programmers, and software developers A basic understanding of blockchain technology Learn how to use open source blockchain technologies such as Hyperledger to implement the European Union's General Data Protection Regulation (GDPR) regulation The General Data Protection Regulation (GDPR) is an EU regulation acting as a one-stop shop for all data privacy rules across the EU. GDPR governs all global entities dealing with EU citizens data in any form or shape. Ajay Mothukuri, Arunkumar Ramanatha, and Vijay Srinivas Agneeswaran explain how to use open source blockchain technologies such as Hyperledger to implement GDPR. GDPR aims to ensure the data privacy of EU citizens through a single set of rules for data protection, increased responsibility and accountability for those entities processing personal data, required notification of any data breaches in stipulated timelines, the pseudonymization of personal data in such a way that resulting data cannot be attributed to a specific data subject without use of additional nonpersonal information, more accessible personal data, the ability to transfer personal data from one service provider to another easily (data portability), a right to be forgotten, and data protection by design and by default. These rules apply to all foreign companies and entities that are active in EU market and offer their services to EU citizens, and there are heavy sanctions for any violations, that can total up to 4% of annual global turnover. Blockchain technologies can help companies fall in line with GDPR directives. Pseudonymization is built into the blockchain, as all the data in a blockchain is encrypted and undersigned with the users digital signatures 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 >>

Blockchains And The Gdpr

Blockchains And The Gdpr

The imminent entry into force of the EU General Data Protection Regulation (GDPR) coincides with pronounced hype surrounding blockchains as a new method of data storage and management. Blockchains and other forms of Distributed Ledger Technology (DLT) are an emergent technology that remains immature and only time will tell whether they are here to stay. Blockchains are currently being avidly experimented with in Europe and beyond. These replicated and tamper-proof databases provide new methods of data handling. Their characteristics contrast with those of centralized forms of data management that regulators had in mind when fashioning the GDPR. In a recent paper I examinewhether a technology based on the decentralized collection, management and storage of data can be compatible with the GDPR, which was fashioned for data silos. This question is of pivotal importance as, in light of its expansive geographical scope, the GDPR is not only relevant for blockchain projects in Europe but around the world. I conclude that a legal framework designed for a sphere of centralization cannot easily be applied to one of decentralization. The GDPR embraces a broad definition of personal data as any information relating to an identified or identifiable natural person, the data subject. Where data qualifies as personal data, it can only be processed subject to a number of conditions and data subjects derive specific substantive rights in respect of their data. Blockchains are essentially an append-only replicated database that is maintained by a consensus algorithm and stored on multiple nodes (computers). Data can be stored on blockchains in plain text or it can be encrypted or hashed to the chain. It is well-established that data that has been encrypted or hashed still qualifies as p Continue reading >>

Blockchain Technology May Not Be The Best Solution For Gdpr Compliance

Blockchain Technology May Not Be The Best Solution For Gdpr Compliance

Blockchain technology may not be the best solution for GDPR compliance Use commas to separate multiple email addresses GDPR deadline looms: The price and penalties | Salted Hash Ep 20 (13:48) With the General Data Protection Regulation (GDPR) deadline fast approaching, host Steve Ragan explores the implications of noncompliance for companies -- and possible penalties -- with Greg Reber, founder/CEO of AsTech Consulting. GDPR deadline looms: The price and penalties | Salted Hash Ep 20(13:48) Despite facing attacks from Chinese regulators and even Jamie Dimon last month, Bitcoin has never been more popular. In fact, a single bitcoin is currently valued at over $5,000 and rising up from roughly $630 at this point last year.Part of the cryptocurrencys appeal can be traced to its use of blockchain, a decentralized ledger technology that anonymizes person-to-person transactions and updates client transactions and balances without going through a bank or other centralized authority. This helps ensure that transactions are not only anonymous, but difficult to taint or tamper. Many companiesincluding those in the financial industryare exploring new ways to incorporate this into day-to-day business activities. Companies such as NASDAQ, Bank of America, and Goldman Sachs, for example, have already filed patents that apply blockchain technology towards day-to-day financial tasks. Some of these patents, for example, apply blockchain principles to creating audit-friendly backup databases for financial documents , streamlining securities settlements , and creating buyer & seller aliases to anonymize person-to-person payments . [ Learn how to protect PII under GDPR . | Get the latest from CSO by signing up for our newsletters . ] Can companies also use blockchain technology to meet th Continue reading >>

The Blockchain-gdpr Paradox

The Blockchain-gdpr Paradox

The General Data Protection Regulation, or GDPR in short, will become enforceable from 25 May 2018. Fact is, this will have (and already has) a major impact in organisations both large and small. In this post I will highlight some topics on how GDPR relates to blockchain technology. Especially on how GDPR has the opposite effect in some ways, when it comes to making Blockchain Architecture compliant with GDPR. To explain why GDPR has to opposite effect in certain areas when applied to blockchain technology, we need to go over some basic concepts first. Both encryption and hashing are fundamental to blockchain technologies. In short, hashing is a one-way transformation of data to an unreadable piece of data (hash value). With encryption you can have a two-way transformation: You encrypt data with a certain key, so it becomes unreadable. With this key you can always decrypt this unreadable piece of data to the original value. By now, you will have heard that transactions on a blockchain are immutable. You cannot change these transactions once they are written on a blockchain. You cannot delete this data, since this would break the chain in a sense, rendering the complete blockchain useless. As an individual, you can browse through the complete history of all bitcoin transactions, making the transactions on this public blockchain technology completely transparent. Transparency in private blockchains is another matter, but it is still guaranteed in other ways. This post will be focused on permissioned blockchains where nodes are permissioned hosted although a lot of arguments below are still applicable to public blockchains. CRUD stands for Create-Read-Update-Delete. These are the basic operations of persistent storage . Now remember from the basic blockchain topics mentio Continue reading >>

How Blockchain Tech Can Facilitate Gdpr Compliance

How Blockchain Tech Can Facilitate Gdpr Compliance

How Blockchain Tech Can Facilitate GDPR Compliance How Blockchain Tech Can Facilitate GDPR Compliance Posted on March 8, 2018 at March 7, 2018 by Armin Ebrahimi 639 0 The Role of BYOID in Meeting Requirements With the deadline fast approaching to have solutions in place that comply with GDPR regulations, its predicted that 80 percent of companies wont be ready. Blockchain technology offers a new, innovative and purpose-built way to meet the regulations requirements. Heres what you need to know about blockchain-based identity management, BYOID and how they address the same principles and goals of GDPR. The blockchain, the technology behind Bitcoin and cryptocurrency in general, has far-reaching applications. The underlying capabilities of the blockchain that of a decentralized, immutable ledger can be applied to multiple industries to protect data and identify information of users and companies and to meet compliance standards. With the enforcement of the EUs General Data Protection Regulation (GDPR) beginning on May 25, 2018, all companies processing or handling the personal data of persons residing in the EU, including U.S.-based companies, are searching for data-handling solutions that find innovative ways to comply with the new regulations. The GDPR is designed to give people more power over their own data, giving less to the organizations that collect and use it for monetary gain. Blockchain-based identity management enables the concept of bring your own identity, or BYOID, which aims to accomplish much of the same things as GDPR giving back to users control over their data. Predicted to Fail, Companies Search for Solutions Because the legislation is so new, companies are still exploring what it will mean to be GDPR compliant. Forrester recently predicted that 80 p Continue reading >>

Gdpr And Blockchain: Is The New Eu Data Protection Regulation A Threat Or An Incentive?

Gdpr And Blockchain: Is The New Eu Data Protection Regulation A Threat Or An Incentive?

GDPR and Blockchain: Is the New EU Data Protection Regulation a Threat or an Incentive? New European data protection regulation to trigger even more blockchain innovation. The General Data Protection Regulation (GDPR) , a sweeping and stringent European Union (EU) wide legal framework for personal data privacy, became effective on May 25. Ready or not, this framework is going to drastically transform the business of any digital venture. The International Association of Privacy Professionals (IAPP) forecast that at least 75,000 privacy jobs will be created as a result, and that Fortune's Global 500 companies will spend close to $8 bln in order to ensure they are compliant with the GDPR . But what does this mean for the blockchain? The GDPRs goals are: to create a uniform data regulation framework within Europe, and to strengthen individuals control over the storage and use of their personal data. It was adopted in 2016 , and after a two-year transition period, is now in force. The GDPR introduces new procedural and organizational obligations for "data processors" - including corporate as well as public entities, and gives more rights to data subjects - the term it uses for individuals. Public and private organizations, when left to themselves, tend to accumulate data even before knowing what they will do with it, sort of "gold rush" in personal data acquisition. The GDPR goes against this habit by specifying that data processors should not collect data beyond what is directly useful to their immediate interaction with consumers. In effect, the data harvest should be adequate, relevant and limited to the minimum necessary in relation to the purposes for which they are processed (Article 39 of the GDPR). Besides setting out what is or isnt allowed, the GDPR also specifies Continue reading >>

Blockchain Is On A Collision Course With Eu Privacy Law

Blockchain Is On A Collision Course With Eu Privacy Law

Blockchain 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 . Theres one huge problem on the horizon, though: European privacy law. The blocs 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 thats 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 subjects 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 problems and will proba Continue reading >>

Will Gdpr Block Blockchain?

Will Gdpr Block Blockchain?

Once it's on the blockchain, you can't delete it, and that could be a problem Anne Toth Head of Data Policy, World Economic Forum LLC Explore the latest strategic trends, research and analysis As someone who has worked in data policy and data protection for 20 years, I read privacy policies for a living. I take notice when I get the occasional email telling me that a website is updating their privacy policy or terms of service. Lately, that trickle has become a torrent in my inbox. The thing they all have in common is the effective date - May 25, 2018, the day the European Unions General Data Protection Regulation (GDPR) goes into effect. GDPR is a unified privacy regulation that largely harmonizes the various and disparate legal frameworks that cover the more than half a billion European data subjects, or as I prefer to call them, people. GDPR gives specifically articulated rights to people over their data so that the phrase, you own the data about you has meaning. These rights are enshrined in European law but making them actionable has not been simple. Adding complexity to the task is the fact that technology has a habit of changing quickly. Its well known that technology often leapfrogs ahead of existing regulatory frameworks, leaving legislators and regulators to play catch-up. Consider the example of blockchain. Blockchain has existed as a concept since 2008 but it has only recently exploded into public consciousness through valuations of cryptocurrencies like Bitcoin. Many technologists believe that blockchain will be more transformational than the internet itself. The global blockchain technology market is predicted to grow to 2.3 billion U.S. dollars by 2021 But whilst many people equate blockchain with Bitcoin and cryptocurrency, they are not the same. Blockc Continue reading >>

The Effect Of Gdpr On Blockchain And Cryptocurrency Services

The Effect Of Gdpr On Blockchain And Cryptocurrency Services

The Effect of GDPR on Blockchain and Cryptocurrency Services The European Union (EU) General Data Protection Regulation (GDPR) is a law designed to enhance the protection of personal data and give individuals greater control over their own data. While the law applies to individuals and personal data resident in the EU, many organizations and services are taking the opportunity to revise their policies and practices for all users. As the GDPR comes into effect today, May 25, 2018, many cryptocurrency service providers have made changes to bring their policies and practices into compliance. A key objective of the GDPR empowers individuals (or data subjects) with various rights. Some of these rights align well with blockchain technology. For example, the GDPR includes a right to information, giving individuals the right to request how their personal data is being shared and processed. The right to access is also a step towards greater transparency, as it allows individuals the opportunity to view their own personal data that has been collected by an organization or service.IBM has released a white paper outlining some key ways that blockchain technology can be used to support the goals of GDPR and enhance compliance. However, the GDPR also enforces the right to be forgotten, which provides individual data subjects with a right to request the deletion of personal data. Immutability is a core feature of blockchain technology, and without a central authority to oversee the erasure of any personal data, this part of the GDPR presents a considerable challenge for any open blockchain network that has stored personal data on the blockchain. Andries Van Humbeeck, Blockchain consultant for TheLedger.be , highlights this potential clash between GDPR and the blockchain: And here is Continue reading >>

Making Sense Of The Eu Gdpr/blockchain Dichotomy

Making Sense Of The Eu Gdpr/blockchain Dichotomy

Making sense of the EU GDPR/Blockchain dichotomy A look into what implications the looming General Data Protection Regulation (GDPR) will have for blockchain and public ledger technology: The ICO train isnt showing any sign of reaching its last stop just yet. Were only five months into 2018, but an already staggering $6 billion has been raised across 195 crowd-sales (including pre-sales, private pre-sales, and other convoluted process). For reference, the entirety of 2017 saw 210, with the (considerably smaller) grand total of $3.8 billion raised. In the midst of the hype, many seem to forget the massive change that European privacy laws are undergoing: the General Data Protection Regulation (or GDPR), set to come into force on May 25th, aims to assert the rights of individuals over their own data. Specifically, it takes aim at organisations storing sensitive information belonging to its users. Failure to comply comes with steep sanctions, with companies being taxed 20 million (or 4% of their annual turnover, if it exceeds this). Under GDPR, consumers have a much greater degree of sovereignty over their data. The legislation demands not only that companies ensure users' data is kept secure in an adequate manner, but that they also adhere to the right to be forgotten the principle that allows an individual to request the erasure of their information from a businesss database. Outside of the blockchain space, multiple companies have ceased offering their services to EU based customers, citing the overbearing GDPR as the key cause. Key companies include MMORPG Ragnorak Online , mobile marketing platform Verve and consultancy firm Brent Ozar. Do you know what isnt compatible with privacy and deletion of data? Public and immutable ledgers. Arguably one of the most important Continue reading >>

Will Blockchain Run Afoul Of Gdpr? (yes And No)

Will Blockchain Run Afoul Of Gdpr? (yes And No)

Will blockchain run afoul of GDPR? (Yes and no) The immutable nature of blockchain networks could break Europe's new GDPR rules. But when implemented properly, the distributed ledger technology could also be part of the solution for compliance. Use commas to separate multiple email addresses As the EU prepares to roll out new data protection regulations this month, concerns are emerging that they could dissuade businesses from rolling out blockchain-based projects because the online transaction technology might innately break the new rules. The EU's General Data Protection Regulation (GDPR) targets citizens' personally identifiable information (PII), providing transparency around its use and giving people the right to restrict its use or request it be deleted all together. [ Related: The top 5 problems with blockchain ] While GDPR never mentions PII, the new rules describing "personal data" are synonymous with it: "Any information that relates to an identified or identifiable living individual. Different pieces of information, which collected together can lead to the identification of a particular person, also constitute personal data." In short, it means any data that can be tied back to person's identity. Blockchain , which has taken the business world by storm , is an online electronic distributed ledger technology that can create an immutable record for recording a history of transactions; therefore, if blockchain were to be used as a type of database to transact with PII, it would by default run afoul of GDPR rules. Blockchain ledgers can be added to, but information on the network cannot be modified or deleted. It's a write-once, append-many technology. Gerry Stegmaier , a partner in the IP, Tech & Data Group of Washington-based law firm Reed Smith, said blockcha Continue reading >>

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