TechGDPR has in-depth experience with Blockchain and Distributed Ledger Technology, and is therefore perfectly positioned to help Blockchain companies with their GDPR Compliance.
Are Blockchain and GDPR Incompatible?
On the surface it may seem that GDPR and Blockchain or Distributed Ledger Technology (DLT) clashes and are fundamentally incompatible, but when you look at the details of both, you will also discover immense opportunities.
The challenges revolve around questions such as:
- What is actually considered personal data on a blockchain? Wallet address? Transaction? Hashed personal data?
- Who, in a distributed environment is actually the data controller, data processor or perhaps even joint-controller?
- How to deal with the right to be forgotten (GDPR Art. 17) on an immutable ledger?
- Who is to be held responsible in case of, for example, a breach?
- Can encrypted personal data be stored on a blockchain?
- How to deal with KYC/AML data regarding ICOs or TGEs?
While most of these questions are currently unanswered, looking at the principles of the GDPR provides some guidance. There are many reasons to involve data protection by design for blockchain projects as the impact the rights and freedoms of individuals may be severely affected when their data makes it onto the blockchain.
Blockchain and GDPR opportunities
Blockchain also offers a number of opportunities for GDPR compliance, such as:
- Giving back control of identity and personal data to the user through self-sovereign identity applications such as uPort, Civic, Sovrin, Jolocom and Taqanu.
- Registering consent collected on an immutable blockchain ledger to have tamper-resistant proof through solutions of for example Akarion (Base/Trace).
- While in most public ledgers such as Bitcoin or Ethereum all information is publicly accessible, there are also more privacy-conscious options to transfer with for example zCash, Dash and Monero, powered by blockchain technology.
TechGDPR is involved with several related organisations currently seeking guidance and is advising regulators on these subjects.
TechGDPR can help you discover how to deal with blockchain and GDPR.
To find out how we can help you with your Blockchain GDPR-complaince project.
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