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Blockchain and the General Data Protection Regulation: Reconciling protection and innovation
Journal of Securities Operations & Custody,
11
(2),
145-157
(2019)
Abstract
The General Data Protection Regulation (GDPR) came into force in May 2018 and has stimulated many conversations but importantly has strengthened individuals’ data protection rights. Blockchain as a technology is steadily advancing with great potential for delivering efficiencies to many processes due to its novel methods for storing and transfer of data. The GDPR and Blockchain have been seen to be clashing by many, and there are fears that the regulation will stifle the innovation of this emerging technology. This paper describes the relationship and concludes that the issues arising in this context do not indicate the termination of innovation but rather that with sustained communication between regulators and technologists, and with continued responsible innovation, the GDPR and Blockchain will prosper.
Keywords: Blockchain; data protection; pacing problem; technology; GDPR; policy
The full article is available to subscribers to the journal.
Author's Biography
Lucie Munier having studied law at Trinity College Dublin, entered the Blockchain space and quickly became a Blockchain advocate. She has become a thought leader in the space through consulting with the European Parliament, lecturing in academic institutions and law firms, as well as debating the technology in venues such as Chatham House. Lucie leads regulatory and policy work in Qadre and engages regularly with regulators, lawyers and standards setting bodies in order to create and advance the use of Blockchain in society. She has extensive international technology experience through her work with consulting, innovation groups and cybersecurity companies. Lucie has worked in the Philippines, Geneva, Dublin, Hong Kong and now London. She combines her legal skills with her passion for emerging technologies to lead Qadre’s work on regulation and business development.
Ashley Kemball-Cook is Cofounder and Head of Business Development for Qadre, a Blockchain product development company, focussing on the application of Blockchain technology in a number of sectors. He is passionate about the uses of Blockchain that can solve societal and business problems. His expertise and passion has led him to implement projects with industry-leading firms across finance, energy and healthcare, including FTSE30 and DAX30 businesses. Ashley has also advised the UK Government, the EU Parliament, regulators and multiple trade bodies on their technology strategy. He previously worked in the application of Blockchain to humanitarian aid in the first international transfer of humanitarian aid over a Blockchain in a project run through the FCA sandbox. Their first beta tester charity saved enough through the platform to put an additional three girls to school each year. Qadre is a Blockchain provider based in London. Qadre brings together expertise in Blockchain commercialisation and Blockchain development. Qadre has created its own Blockchain platform that is enterprise grade and optimised to integrate with pre-existing systems and other Blockchains. We offer a full range of services to our clients, including Blockchain specific consultancy, delivering working proof of concepts, pilots and full deployments solutions.
