European Union’s ‘right to be forgotten’ protections at issue
In US, Congress considering new digital privacy legislation
The European Union’s “right to be forgotten” privacy law is on a collision course with blockchain, whose defining feature is that it “never forgets” the vast amount of information it collects.
The technology is becoming integral to a growing number of businesses, and companies across the Europe-wide economic bloc want privacy regulators to clarify how blockchain and the EU’s landmark General Data Protection Regulation can coexist.
“There is serious tension between blockchain and GDPR,” said Jörg Hladjk, a partner with Jones Day in Brussels. “There is a general belief that blockchain technology uses anonymous data, but that is not really the case.”
The stakes are growing. The global blockchain market is forecast to explode this decade—from about $6 billion last year to $160 billion by 2029.
Blockchain’s distributed ledgers—which contain data that can’t be deleted...
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