What is the General Data Protection Regulation (GDPR) about?
The General Data Protection Regulation (GDPR) (EU) 2016/679 harmonises personal data protection law on the territory of the European Union (EU). It stipulates rules on data processing and on the transfer of personal data in and outside the EU. Coming into effect on 25 May 2018, it will replace the 1995 Data Protection Directive (Directive 95/46/EC). Non-compliance with the GDPR may lead under some circumstances to severe fines of up to 4% of worldwide annual turnover.
What are the key challenges the GDPR triggers for blockchain?
Depending on the blockchain-based activity the GDPR raises considerable legal concerns. Among the most relevant ones relate to the processing principles of data minimisation and storage limitation. Some key challenges relate specifically to blockchain features, such as:
- Immutability of transactions
- Data controllers and data processors
Dr. Guenther Dobrauz
Leader|PwC Legal Switzerland, Zurich
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Director|PwC Legal Switzerland, Zurich
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Dr. Idir Laurent Khiar
Manager|PwC Legal Switzerland, Zurich
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Assistant Manager|PwC Legal Switzerland, Zurich
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