New Research Says Private Blockchains May be Compatible with GDPR

New Research Says Private Blockchains May be Compatible with GDPR

New research from Queen Mary University of London and the University of Cambridge, U.K. says that private blockchains may be compatible under EU’s new privacy rules as long as the data controllers respect citizens’ rights in terms of keeping and transferring their private information.

It was also emphasized that blockchain operators could be considered as “processors” instead, which would act on behalf of users rather than control their data. This is mostly applicable for Blockchain-as-a-Service (BaaS) offerings, where a third party provides the supporting infrastructure for the network while users store their data and control it personally.

Systems such as centralized platforms for land registry and private interbanking solutions that use “a closed, permissioned blockchain platform with a small number of trusted nodes.” could also be compliant with GDPR rules, the report said.

Source: Coin Telegraph

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