Blockchain: A European Perspective on the compatibility in regards with General Data Protection Regulation

Abstract

The purpose of this dissertation is to investigate the compatibility between Blockchain technology with the General Data Protection regulation (GDPR). The GDPR was adopted in May 2018 across all the European Union member nations with the intention of harmonising the data protection regulations throughout Europe. The GDPR established numerous basic rights and privileges for individuals in terms of protecting their personal data. That alone implies that the relevant stakeholders who process personal data undertake specific duties.

The legislation, although is predicated on the assumption that data is maintained and processed in a centralised architecture. This creates a problem for distributed networks, the core technology of blockchain. The blockchain technology is utilised to safeguard and maintain the integrity of the personal data in a potentially dangerous technological world. Typically, the peer-to-peer (P2P) networks, also known as shared networks, have confronted the challenge of assuring data integrity.

This dissertation explores whether the GDPR is relevant to a decentralised architecture and if the essential rights and principles of the regulation can be preserved, which is to say whether the involved authorities can perform their regulatory tasks.