Blockchain & The General Data Protect. Regulation

Without a doubt, data is the new gold¹. Blockchain, the most recent technological development taking over the world as we know it, is realizing the potential of data now more than ever. Yet, at the same time, many question whether the principles established in the General Data Protection Regulation 2016/679 ('GDPR') are compatible with the foundations of this new technology.

Blockchain first rose to fame in the ashes of the financial crisis of 2008, and was then adopted as the underlying technology of hugely successful platforms such as Bitcoin and Ethereum. Best described as a distributed ledger, blockchain allows the recording of information in blocks at a point in time, with new transactions being added to a block and connected to a previous block of information via nodes. This allows the information to be stored across a network, therefore moving away from the traditional approach of centralized data. This methodology also ensures that information is protected