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May 18, 2022

Navigating the Intersection of Blockchain and Data Privacy Laws

  • Vincent Pitaro
    Cybersecurity Law Report
Blockchain technology offers many benefits, including resiliency, permanence and elimination of traditional intermediaries and data repositories. Certain of those qualities, however, may conflict with the requirements of data privacy laws, especially the GDPR, which includes, for example, data minimization requirements and deletion rights. During a recent program at the IAPP Global Privacy Summit, attorneys from Baker McKenzie and Protocol Labs discussed the principal features and applications of blockchain technology, including smart contracts, cryptocurrency, non-fungible tokens, decentralized autonomous organizations and decentralized data storage, as well as the applicability of data privacy laws - particularly the GDPR and the CCPA - to blockchain applications. We synthesize their insights and provide ten takeaways. See “Evaluating Privacy and Cybersecurity Risks In Emerging Technology Transactions: Biometrics, Fintech and Cryptocurrency” (Aug. 11, 2021).

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