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
Tuesday, September 25 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 Email Hackers Software Tech Term Network Security Business Internet Computer Managed IT Services Hosted Solutions Backup Mobile Devices Microsoft Data IT Support User Tips Ransomware Google Productivity Productivity Data Backup Data Recovery IT Services Smartphone Cloud Computing Outsourced IT Workplace Tips Efficiency Managed Service Provider Android Encryption Communication Business Continuity Data Management Small Business Innovation Office 365 Paperless Office Social Media Hardware Windows 10 Save Money Disaster Recovery Business Management Browser Remote Monitoring Artificial Intelligence Work/Life Balance Facebook Server Infrastructure Tip of the week Bandwidth Cybersecurity App Government Smartphones Unified Threat Management Phishing BYOD Document Management Wi-Fi Two-factor Authentication Chrome Money Passwords Healthcare Chromebook Windows 10 Virtual Reality Apps Windows Network Applications Risk Management BDR How To Antivirus Big Data Internet of Things Collaboration Vulnerability Holiday SaaS Managed IT Services Compliance IT Management Saving Money Hosted Solution Password Employer-Employee Relationship Word VoIP File Sharing Managed Service Remote Computing Information HIPAA Botnet Tech Support Mobile Security Automobile Automation Hacker Mobile Device Machine Learning Identity Theft Alert Patch Management Smart Technology Point of Sale Health Vendor Management Scam Customer Relationship Management Telephone Systems Samsung Data loss Website Router G Suite Physical Security Twitter Firewall How To Blockchain Computer Care Computing Gmail VPN Politics Taxes Office Robot Maintenance Regulations Quick Tips Data Security Storage Business Technology IoT Training Server Management Virtual Private Network Websites Recovery Alerts IT Solutions Corporate Profile Outlook Geography Black Friday Social Networking Cameras Sports Google Drive Managing Stress Help Desk Legislation Chatbots Meetings Computer Repair Lenovo Fleet Tracking Fraud Star Wars Communications Staffing Virtualization Solid State Drive Statistics Electronic Health Records Access Control Cybercrime Digital Mail Merge Augmented Reality Dark Web Nanotechnology Cabling Monitoring Licensing Administrator Upgrades Processors WannaCry Shortcut High-Speed Internet Cyber Monday Motherboard Law Enforcement CCTV Search VoIP Techology Professional Services Bluetooth Enterprise Content Management Mouse Identity Webcam Firefox Superfish IBM Asset Tracking Cost Management Hard Disk Drive Management Cyberattacks SharePoint Spyware Address The Internet of Things MSP Microsoft Excel Screen Reader Education USB Consulting Cooperation Monitors Microsoft Office Development Gadget Avoiding Downtime Gadgets Budget Black Market Unified Communications Tablet OneNote Hotspot Assessment WiFi Cortana Enterprise Resource Planning Files Downloads IT Technicians Travel Crowdsourcing Proactive Smart Tech Relocation Cleaning Emoji Disaster Heating/Cooling Dongle Managed Services Provider Unified Threat Management Staff Supercomputer Cables Distributed Denial of Service Time Management GPS Bring Your Own Device Comparison Electronic Medical Records Networking Employee-Employer Relationship Language Internet Exlporer Mobile Read Only Multi-Factor Security Mirgation Motion Sickness Personal Information Upgrade Remote Monitoring and Management Connectivity Private Cloud Uninterrupted Power Supply Servers Service Level Agreement E-Commerce User Error Downtime IT Budget YouTube Wires Managed IT Service Modem Update Network Management Value Office Tips Tracking Managed IT Wireless Vulnerabilities Specifications Web Server Legal Spam Remote Workers Computing Infrastructure Mobile Device Management Company Culture Google Calendar Analytics WPA3 Permissions Error Utility Computing Features Printer Wearable Technology Digital Payment Social Notifications Settings Break Fix Cookies IT Consultant IT Support Touchscreen Presentation Lithium-ion battery Regulation Hard Drives Wireless Technology 5G Safety Marketing Competition IP Address CrashOverride Users Miscellaneous Customer Service Mobile Office Emergency Hiring/Firing Domains Fun Printers Public Speaking