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Our blockchain and cryptocurrency event, Hard Fork Decentralized, is only a few weeks away. We will discuss some of the industry's biggest challenges, including how blockchains can remain compliant with the GDPR.
Earlier this month, at the annual Ethereum conference, Devik, Devik Buterin, told Quartz how he thought IBM's blockchain commercial offerings were "not at all right …". Blockchain should be open, transparent and people.
As soon as the technology is put in camera, is it really a blockchain? Like Buterin, some will regret the fact that private blockchains are not really blockchains, but does it matter? In a world of data security and GDPR, allowed block chains may be the only way to comply?
Of course, there is something fundamentally wrong about blockchains controlled by a centralized entity. For the purists of decentralization, it takes more than the technology to decentralize to take full advantage of the benefits of the system. Putting a blockchain inside the metaphorical walls of a business seems to go against the intuition.
That said, private blockchains could be useful. In some cases, traditional public block chains could be ruined if they exposed information that made them contrary to the General Data Protection Regulation (GDPR). Of course, it would be extremely difficult, if not impossible, to sanction a blockchain that would violate these regulations. How can a government fine a decentralized entity without a known owner or business to adopt it?
The EU recently went so far as to say that authorized private block chains would be the only way for decentralized technology to remain safely in line with the GDPR. Authorized blockchains may be the only options for companies that want to invest in technology. Even in this case, it is not as simple as creating a locked blockchain, there are many obstacles to overcome if companies want to ensure compliance with the law.
At Hard Fork Decentralized, we'll see how companies that implement blockchain technologies can stay in compliance with the GDPR, while maximizing the benefits.
If you are not interested in private blockchains or regulations, our event will feature a ton of other conferences, sessions and workshops! Check out our complete list of events, organized by the leading companies in the sector, to sign up for your favorite discussions. See you in London on December 12th and 14th?
Posted on November 29, 2018 – 14:52 UTC
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