- 10 Jun 2018 12:12 PM
“We would like to draw your kind attention, that if you implement blockchain into your business model, e.g. develop blockchain to track customer purchases, to trade energy between different electricity providers, prove ownership of assets, or any other applications that require personal data, you as an organization developing and launching such blockchain based systems will have to abide by the GDPR.
The GDPR has profound significance to blockchain systems in three regards:
* Data stored on a blockchain is tamper proof, thus, the GDPR “right to be forgotten” (deletion) is not an option currently
* Blockchains are distributed ledgers issued and controlled by a community, meaning control of the data put on them is relinquished.
* Smart contracts created with blockchain will fall under the auspices of automated decision-making, and may therefore be contested.
To resolve the paradoxon of the blockchain technology, smart contracts and GDPR, we gladly advise you on possible legal solutions.”
For more information contact:
Gobert & Partner Attorneys at Law
Kossuth Lajos u. 14-16. floor 2.,
Phone: +36 1 270 1 9900
Dr. Veronika Francis-Hegedűs LLM, attorney, GDPR expert, & Tamás Czeglédi MBA, Founder of Blockchaineum