General Data Protection Regulation (GDPR) & Blockchain

General Data Protection Regulation (GDPR) & Blockchain

The General Data Protection Regulation (GDPR) (Regulation (EU) 2016/679) is a regulation by which the European Parliament, the Council of the European Union and the European Commission intend to strengthen and unify data protection for all individuals within the European Union(EU). It also addresses the export of personal data outside the EU. The GDPR aims primarily to give control back to citizens and residents over their personal data and to simplify the regulatory environment for international business by unifying the regulation within the EU.When the GDPR takes effect, it will replace the data protection directive (officially Directive 95/46/EC) of 1995. The regulation was adopted on 27 April 2016. It becomes enforceable from 25 May 2018 after a two-year transition period and, unlike a directive, it does not require national governments to pass any enabling legislation, and is thus directly binding and applicable.

 

Together, the GDPR and blockchain advocates point to the same thing – the need to fundamentally change the way in which personal data is managed. Both from a principle and practical perspective, the status quo of disparate identity stores managed by social networks, banks, governments and individual websites needs to shift to grant the individual sovereignty over their data. From the perspective of principle, the individual has an innate right to the information that comprises who they are. From a practical perspective, a single, trusted, portable source of personal data, managed and leveraged by the individual, allows every data issuer and processor a consistent, efficient way to interact with an individual’s digital identity. As both the concept of self-sovereignty and regulation around user control grow, it’s clear that the age of the user is arriving, and the future of digital identity will hinge on technology that best facilitates the right of an individual to own and manage their identity.

 

How GDPR plus blockchain leads to the future of self-sovereign identity

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