2 Months Ago

Sam Palmisano, the retired chairman of IBM in a recent interview on Bloomberg said it is hard to come up with a good solution for creating public blockchains which are fully compatible with General Data Protection Regulations (GDPR) in Europe

Blockchains are immutable, so once data has been added it cannot be changed or removed, which is in direct conflict with GDPR.

Palmisano believes that because private blockchain has more centralization, ought to be more compliant, but because public blockchains are very decentralized they struggle to be compliant with GDPR.

Queen Marys and Cambridge Universities have also raised similar concerns. A possible solution is to ensure that Blockchains do not hold personal/ private data so this information would be held off chain where such data could be removed or changed if required at some stage in the future.

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Blockchain
Regulatory
https://readwrite.com/2019/03/04/how-can-blockc...compliant/
Global Blockchain Business Council (GBBC), found 19% of the institutions they interviewed claim they will be investing in Digital Assets by 2021. 

Sandra Ro, CEO of the GBBC, said that “by 2027, crypto and Digital Assets would consist of at least 10 percent of the global GDP”. Interestingly 40% of companies surveyed consider the invention of blockchain technology as the most important technological innovation since the invention of the internet. Although it also discovered over 63% of executives believe that a lack of understanding of what blockchain technology can offer is THE feature holding back wider adoption.

#FrontierInsights
Blockchain
Regulatory
Digital Assets
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