Get Started Today!  (813) 749-0895    SEARCH SITE

IT Professional Services and Business Continuity

Symmetric Engineering Group Blogs

How is Blockchain Going to Work with the GDPR?

How is Blockchain Going to Work with the GDPR?

The European Union’s General Data Protection Regulation (GDPR) has gone into effect, and with this new law comes a lot of information your organization needs to consider regarding individual data protection. In particular, the technology of blockchain is difficult to talk about in regard to GDPR, as it’s basically an encrypted and distributed digital ledger. How can blockchain work properly in tandem with the new GDPR regulations?

GDPR itself is a bit tricky to understand. Even though it doesn’t have the PII designation, it’s still the strongest data protection law passed to date. Any organization that does business with businesses within the nations of the European Union needs to comply with the regulations outlined in the GDPR. One of the most notable results that we’re sure you’ve noticed regarding GDPR is that many websites have updated their privacy policy, and they are required by law to tell their viewers about this. This is to protect themselves from the fines associated with non-compliance to GDPR.

The biggest issue concerning blockchain technology is found in the GDPR mandate. According to the new regulations, if a company obtains personal information that doesn’t need it, they must delete it. Blockchain nodes can’t be deleted, so it makes sense that the GDPR would be an issue for companies that use them. It’s a strange coincidence that blockchain and GDPR are both meant to improve user privacy, even though the blockchain technology used to this end isn’t compatible with GDPR regulations.

Even though GDPR was designed to adapt to changes in technological innovations, blockchain is already testing its ability to do so. For example, applications that utilize blockchain technology already pair well with the three major points of GDPR: confidentiality, integrity, and availability. The blockchain uses encryption to remain confidential, but the ledger itself remains transparent.

Let’s think about a potential scenario for a customer named Jim. Jim can use a blockchain-based account to pay for his monthly checkup. This works out for him because most of the EU has universal healthcare as a principal. The details of this payment are hidden, but the record shows the overall price in the form of cryptocurrency. Because this company has collected information--encrypted or not--and it’s not needed, this would be a breach of GDPR policy. Consequently, some EU-based companies have stopped accepting Bitcoin and cryptocurrency as payment, though it’s worth mentioning that GDPR isn’t the exclusive cause of this.

Though the GDPR regulations only cover EU-member countries and organizations that do business with them, there is a considerable chance that these regulations will be amended as time goes on. What will this future look like? Will it be more like GDPR, or will it focus primarily on the blockchain? Let us know in the comments.

Monitoring Pros and Cons
Tip of the Week: Lead Your Remote Workers to Succe...
 

Comments

Already Registered? Login Here
No comments made yet. Be the first to submit a comment

Search

Mobile? Grab this Article!

Qr Code

Tag Cloud

Security Tip of the Week IT Services IT Support Best Practices Managed IT Services Cloud Technology Privacy IT Infrastructure Management Email Business Computing IT Companies in Tampa Business Continuity Malware Hackers Hosted Solutions Internet Business Mobility IT Support Services Business IT Solutions Microsoft I.T. Management Business Productivity Software IT Professional Services Custom Business Solutions Managed Service Provider Data Computer Outsourced IT Mobile Devices Data Backup Business Applications Tech Term Network Security IT Management IT Business Solutions Ransomware Technology Consultants Windows 10 Data Recovery Managed IT Service in Florida Managed IT Service Business IT Support Managed IT Android Internet of Things Windows Google Cloud Computing I.T. Support Managed Services in Florida User Tips Communication Innovation Backup Disaster Recovery Workplace Tips IT Risk Management Dynamic Solutions I.T. Services IT Support Services in Tampa IT Outsourcing in Tampa Browser IT Services in Florida Data Management Smartphone Hardware Remote Monitoring IT Support IT Support in Tampa Encryption Managed Services Gmail Network IT Service Productivity Small Business IT Managed Services Save Money Cybersecurity Artificial Intelligence Holiday Managed Services in Tampa Bay Server Microsoft Office Upgrade BYOD App Social Media Smartphones Firewall Tech Companies in Tampa Mobile Device Mobile Device Management Applications Paperless Office Unified Threat Management VoIP Tampa IT Support Collaboration Vendor Management Passwords Phishing Office 365 Website Business Management Efficiency IT Services in Tampa Compliance Content Filtering IT Vendor Management IT Outsourcing Customer Relationship Management Risk Management Business IT Support Services Apple Facebook Chrome Small Business IT Solutions Infrastructure Computer Networking Managed Service in Tampa Tip of the week Antivirus Operating System IT Outsourcing in Florida BDR IT Service Management Data Computer Services IT Company Business Plan Word Two-factor Authentication Bandwidth Bring Your Own Device Data storage SaaS Project Management Government Vulnerability Miscellaneous Storage Regulations Managed IT Services Big Data Wi-Fi The Internet of Things IT Management Services Managed Service Windows 10 Saving Money Remote Computing IT Company Hosted Solution Employer-Employee Relationship Money Robot Wireless Technology Analytics Mobile Computing Computer Hardware Repair Retail WiFi IT solutions Telephone Systems Data Security Unified Communications Automation Document Management Router Settings Data loss Network Management LiFi Augmented Reality Spam Alert Wireless Tablet Healthcare Apps Monitors Training Recovery HIPAA Administration Virtual Private Network Managed IT Outsourcing IoT Assessment IT Consulting Information Technology Presentation Network Congestion Mobility Information Business Continuity Services File Sharing Maintenance Business Technology IT Support Helpdesk VPN Scam Internet Exlporer Laptop Microsoft Virtual Server Hosting in Tampa and Florida IBM IT Management Service YouTube Office Tips Files Mobile Security Google Drive Search Help Desk communications Uninterrupted Power Supply Customer Service Quick Tips Computer Network Services Mouse Licensing End of Support Computer Support Smart Technology I.T. Company Virtual Desktop Outlook Computer Networking Services Office Net Neutrality Virtual Reality Redundancy Business Application Blockchain Budget User Error IT Companies in Florida Patch Management Flexibility How To Digital Payment Server Management Solid State Drive Virtualization Computing Identity Theft G Suite Employee-Employer Relationship Digital Signature Hard Drives Google Calendar Chatbots Cortana Enterprise Content Management IT Tech Support Hacks Lenovo Permissions Remote Monitoring and Management Disaster Avoiding Downtime Backups Printer Wearable Technology Server Hosting in Tampa Education Management Public Speaking Intranet Break Fix Connectivity Help Desk Support Computer Care Automobile Firefox Data Technology Heating/Cooling Google Wallet Disaster Resistance Computing Infrastructure Point of Sale Statistics Microsoft Affiliate Program E-Commerce Bitcoin Modem Alt Codes Machine Learning VoIP Wires Touchscreen Remote Workers Business Continuity Service Providers USB Legislation Identity Knowledge Vulnerabilities Technology Consulting Firms Current Events Superfish Fraud WPA3 Gadgets Information Technology Consulting Legal Access Control Fun Cabling Server Hosting in Florida Enterprise Resource Planning Programming Dark Web Buisness Writing Drones Proactive IT Alerts Samsung Google Maps Bluetooth Microsoft Business Solutions Hard Drive Features Windows 8 Professional Service Software as a Service Cookies IT Support Companies in Tampa Typing Digital Hacker Downtime Managed it Services in Tampa Travel Dark Data Cost Management Comparison Experience Chromebook Deep Learning Geography Going Green Social Engineering Fleet Tracking IT Consulting Services SharePoint IT Technicians Server Hosting Mail Merge Tampa IT Services Mobile Tech Support Top IT Outsourcing Company Data Warehousing Trending IT Vendor Management in Tampa Sync Consultation Data Breach Cooperation Co-managed IT Cache Electronic Health Records Health IT Managed Service Provider Technology Tips Nanotechnology Halloween IT Support and Solutions Spyware Careers Managed Service Providers Consulting Services Monitoring IT Consulting Service Specifications Social Networking Managed Services in Floirda Corporate Profile Health Care IT Services High-Speed Internet Password Printing Networking Asset Tracking Hacking Downloads Mirgation Address Outsourced Computer Support Company Culture Microsoft Excel CIO Network Support in Florida Mobile Device Managment MSP Technology Laws Staff Shortcut Recycling Screen Reader Scary Stories IT Managed Service in Tampa IT Service in Tampa Jobs Users Tech Company in Tampa Servers Service IT Star Wars Consulting Undo Black Friday Motherboard IT Company in Tampa Identities Websites WannaCry Computers Business IT Solutions Development Hotspot OneNote Google Docs Multi-Factor Security Migration Politics Hard Disk Drive Managing Stress Social Time Management Proactive History User Save Time Unified Threat Management Operations Software Tips eWaste Read Only Domains Healthcare IT Distributed Denial of Service Smart Tech Sports Help Desk Support in Tampa Computer Repair Language Safety Marketing IT Solutions for Small Business Utility Computing Managed Services Provider Business Growth Cryptocurrency Competition Humor Cyber Monday Application Managed Service in Florida Display Full Service IT Cables Best Practice Techology Telephony Printers Processors Unsupported Software Cybercrime Emoji Cameras Black Market IT Consultant Refrigeration Lithium-ion Battery Update Emergency Physical Security Managed Servers Work/Life Balance Business Appplications Staffing Administrator Web Server Mobile Data Running Cable CCTV Relocation Personal Information How To Law Enforcement Thank You GPS Regulation 5G Notifications Taxes Private Cloud IP Address Supercomputer Motion Sickness Upgrades Saving Time Gadget I.T. Managament Congratulations Tracking Cyberattacks Virus Error CrashOverride Mobile Office IT Budget Meetings 3D Printing Hiring/Firing Crowdsourcing Cleaning Public Cloud Electronic Medical Records Twitter Webcam Botnet

Latest Blog Entry

You open a lot of files and folders during your duties around the office, but some of them might seem a little different from others. These files are marked as “read-only.” What is the significance behind these files, and what does this marking mean? Find out in this week’s ...

Latest News

SEG Awarded Small Business of the Year Award!

Symmetric Engineering Group was awarded the Upper Tampa Bay Chamber Small Business of the Year Award for their understanding technical service and support throughout the Tampa Bay area

Read more ...

Account Login