Page 0047

Through this publication we have identified

that, while it may not yet be possible to

definitively solve all of the challenges posed

by the GDPR and other privacy regimes to

the implementation of blockchain solutions,

progress can be made if the interested parties

work together openly and pragmatically.

Blockchain and the GDPR can co-exist

We do not feel that, by definition, blockchain technology

and data protection and privacy are inherently

contradictory. Quite the opposite. Indeed, we believe

that a blockchain solution that respects the fundamental

principles of data protection and privacy is achievable,

and the four key elements necessary to achieve that aim,

as identified in this publication are:

1 Use of a private, permissioned blockchain.

2 Avoiding, if possible, the storing of personal data

on the blockchain, eliminating / minimising freeform

data fields.

3 Implementing a detailed governance framework.

4 Employing innovative solutions to traditional data

protection problems even if untested.

A Call for Guidance

We will conclude by repeating our call on regulatory

authorities to take the steps necessary to address the

outstanding privacy challenges posed by blockchain

technology, most importantly, in relation to

1 the use of encryption as a means of anonymisation

and deletion of personal data; and

2 the use of supplementary statements as a means

of complying with obligations to correct inaccurate

personal data. Regulatory intervention is necessary

here because innovative solutions to traditional

data protection challenges will only succeed

with the understanding and support of regulators

and lawmakers.

There is a risk that, if steps are not taken by regulators and

lawmakers to bridge the gap between data protection law

and blockchain technology, we will witness a slowing in

(or even end to) advancements in blockchain solutions.

Such an outcome would ultimately be detrimental to

technological developments that may have the capacity to

deliver substantial benefits to the world as a whole.

GDPR and the Blockchain I 45

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