New EU guidelines aim to regulate blockchain data storage
Experts debate the role of blockchain in privacy, with some urging for privacy-by-design, while others reject personal data on blockchains.
The European Data Protection Board (EDPB) has introduced draft guidelines aimed at regulating the storage and sharing of personal data on blockchains. These proposals aim to align blockchain with existing privacy standards, especially the GDPR.
The guidelines, ratified by the EDPB this month, are open for public comment until 9 June.
Under the new rules, access to personal blockchain data would be strictly limited to comply with GDPR protections. The EDPB highlighted the need for ‘Data Protection by Design and by Default.’
It advised organisations to implement early technical and structural measures to ensure transparency and data erasure.
The guidelines also emphasise that personal data should not be stored on a blockchain if it conflicts with privacy principles.
Data privacy experts have diverse opinions on the role of blockchain in privacy. Some see decentralisation as incompatible with regulation. Others argue that blockchain should prioritise privacy as a core component, not an afterthought.
One expert warned against putting personal data on blockchains, calling it a potential violation of privacy and a move towards authoritarianism.
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