301-571-5040    Get SUPPORT

Washington Works Blog

How is Blockchain Going to Work with the GDPR?

How is Blockchain Going to Work with the GDPR?

The European Union’s General Data Protection Regulation (GDPR) has gone into effect, and with this new law comes a lot of information your organization needs to consider regarding individual data protection. In particular, the technology of blockchain is difficult to talk about in regard to GDPR, as it’s basically an encrypted and distributed digital ledger. How can blockchain work properly in tandem with the new GDPR regulations?

GDPR itself is a bit tricky to understand. Even though it doesn’t have the PII designation, it’s still the strongest data protection law passed to date. Any organization that does business with businesses within the nations of the European Union needs to comply with the regulations outlined in the GDPR. One of the most notable results that we’re sure you’ve noticed regarding GDPR is that many websites have updated their privacy policy, and they are required by law to tell their viewers about this. This is to protect themselves from the fines associated with non-compliance to GDPR.

The biggest issue concerning blockchain technology is found in the GDPR mandate. According to the new regulations, if a company obtains personal information that doesn’t need it, they must delete it. Blockchain nodes can’t be deleted, so it makes sense that the GDPR would be an issue for companies that use them. It’s a strange coincidence that blockchain and GDPR are both meant to improve user privacy, even though the blockchain technology used to this end isn’t compatible with GDPR regulations.

Even though GDPR was designed to adapt to changes in technological innovations, blockchain is already testing its ability to do so. For example, applications that utilize blockchain technology already pair well with the three major points of GDPR: confidentiality, integrity, and availability. The blockchain uses encryption to remain confidential, but the ledger itself remains transparent.

Let’s think about a potential scenario for a customer named Jim. Jim can use a blockchain-based account to pay for his monthly checkup. This works out for him because most of the EU has universal healthcare as a principal. The details of this payment are hidden, but the record shows the overall price in the form of cryptocurrency. Because this company has collected information--encrypted or not--and it’s not needed, this would be a breach of GDPR policy. Consequently, some EU-based companies have stopped accepting Bitcoin and cryptocurrency as payment, though it’s worth mentioning that GDPR isn’t the exclusive cause of this.

Though the GDPR regulations only cover EU-member countries and organizations that do business with them, there is a considerable chance that these regulations will be amended as time goes on. What will this future look like? Will it be more like GDPR, or will it focus primarily on the blockchain? Let us know in the comments.

Monitoring Pros and Cons
Tip of the Week: Lead Your Remote Workers to Succe...
 

Comments

No comments made yet. Be the first to submit a comment
Already Registered? Login Here
Guest
Sunday, November 18 2018
If you'd like to register, please fill in the username, password and name fields.

Captcha Image

Mobile? Grab this Article!

QR-Code dieser Seite

Tag Cloud

Tip of the Week Security Technology Best Practices Cloud Privacy Business Computing Malware Hackers Business Email Network Security Software Tech Term Productivity Internet Computer Hosted Solutions Backup Mobile Devices Data Managed IT Services Data Backup Ransomware User Tips Microsoft IT Support Data Recovery Google Productivity IT Services Smartphone Efficiency Outsourced IT Managed Service Provider Innovation Android Business Continuity Workplace Tips Encryption Cloud Computing Office 365 Business Management Social Media Hardware Windows 10 Paperless Office Communication Small Business Browser Data Management Save Money Remote Monitoring Collaboration Server Disaster Recovery Bandwidth Government Managed IT Services App BYOD Cybersecurity Smartphones Work/Life Balance Facebook Artificial Intelligence Windows 10 Unified Threat Management Phishing BDR Infrastructure Tip of the week Vulnerability Hosted Solution IT Management Mobile Device Office Saving Money Password Managed Service Employer-Employee Relationship Maintenance Holiday Word Money Healthcare Chromebook VoIP Politics Chrome Wi-Fi Virtual Reality Two-factor Authentication Risk Management Applications Passwords File Sharing How To Apps Document Management Internet of Things SaaS Antivirus Customer Relationship Management Compliance Network Big Data Windows Machine Learning Remote Workers Website Gmail Robot How To Identity Theft Regulations VPN IoT Storage Point of Sale Information Quick Tips Data Security Telephone Systems Recovery G Suite Remote Computing Business Technology Server Management Virtual Private Network Computer Care HIPAA Firewall Taxes Automation Mobile Security Training Smart Technology Websites Alert Tech Support Health Hacker Patch Management Communications Meetings Router Botnet Samsung Vendor Management Scam Remote Monitoring and Management Physical Security Twitter Data loss Blockchain Automobile Computing Managed IT Service Modem Education Networking User Error Vulnerabilities Conferencing Update Users WPA3 Computing Infrastructure Value Company Culture Legal Uninterrupted Power Supply Customer Service Servers Specifications Gadget Zero-Day Threat YouTube Permissions WiFi Utility Computing Features Upgrade Network Management Google Calendar Break Fix Cookies Relocation Cleaning Social Notifications Printer Wearable Technology Travel Geography Instant Messaging Managed IT Social Networking Fleet Tracking IT Solutions Analytics Wireless Alerts Supercomputer Managing Stress Help Desk Sports Spam Black Friday Virtualization Settings Mobile Device Management Fraud Star Wars GPS Electronic Health Records Computer Repair IT Support Touchscreen Legislation Chatbots Dark Web Nanotechnology Private Cloud Professional Services Monitoring Google Drive Access Control Motion Sickness High-Speed Internet Finance Corporate Profile Outlook Cyber Monday Motherboard Asset Tracking Upgrades Processors Lenovo Licensing Downtime IT Budget Enterprise Content Management Search Bookmarks Solid State Drive Statistics MSP Human Error Digital Mail Merge Cost Management Office Tips Tracking Management Cyberattacks Cabling Mouse Identity Web Server Shortcut Microsoft Excel Screen Reader Error USB Consulting VoIP Augmented Reality Techology SharePoint Development Authentication WannaCry IT Consultant OneNote Firefox Superfish Cooperation Digital Payment Unified Communications Favorites Hard Disk Drive Bluetooth Proactive Cortana Permission Black Market Spyware Address Hotspot Assessment Enterprise Resource Planning Files IBM Tablet Cameras Monitors Smart Tech Staffing Dongle Managed Services Provider Crowdsourcing The Internet of Things Avoiding Downtime Downloads IT Technicians Cables Authorization Emoji Distributed Denial of Service Employee-Employer Relationship Microsoft Office Unified Threat Management Staff Cybercrime Bring Your Own Device Project Management Gadgets Budget Test Language Internet Exlporer Administrator Mobile Read Only Electronic Medical Records Disaster Heating/Cooling Comparison Law Enforcement CCTV Connectivity Service Level Agreement E-Commerce Personal Information Time Management Multi-Factor Security Mirgation Webcam Wires Employees RMM Miscellaneous Emergency Fun Printers Mobile Office Domains Regulation Backup and Disaster Recovery Public Speaking Hard Drives Presentation Lithium-ion battery Wireless Technology 5G Safety Marketing Competition CrashOverride IP Address Hiring/Firing