The European Union Blockchain Observatory and Forum, a consultancy body under the umbrella of the European Commission, has published guidance on how distributed ledger technology (DLT) companies can avoid breaching the General Data Protection Regulation (GDPR). The tips are contained within a report about blockchain and GDPR released on Tuesday.
According to the document, which was prepared by ConsenSys, blockchain companies should first analyze how their DLT products create user value, whether personal data is part of that process and if not, whether a real need exists to store that type of information by using blockchain.
Secondly, companies should implement various tools to anonymize the information to a maximum degree in cases where personal data plays a part in the value creation process. When using techniques such as reversible encryption, hashing (non-reversible encryption), and data obfuscation, enterprises should analyze the so-called reversal and linkability risk. The first one occurs whe...
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