Can GDPR Harm Blockchain? | Blockchain Central

The video discusses the General Data Protection Regulation (GDPR) and its implications for blockchain technology. GDPR is a legal framework in the EU that gives users rights over their personal data, such as the right of erasure. However, blockchain's immutability poses challenges for GDPR compliance. The video explores potential solutions, including changing GDPR, making blockchains illegal, or using private blockchains. It concludes with a disclaimer that the content is not legal or financial advice.

What is the primary focus of GDPR?

• Increasing global trade

• Enhancing business profits

• Protecting user data and privacy

• Promoting blockchain technology

Why is the right of erasure challenging for blockchain technology?

• Blockchain is too expensive to modify

• Blockchain is designed to be immutable

• Blockchain lacks user data

• Blockchain is not popular enough

What role does KYC play in the context of GDPR and blockchain?

• It simplifies blockchain transactions

• It eliminates the need for GDPR compliance

• It requires personal identification, complicating anonymity

• It helps in making transactions anonymous

Which of the following is a proposed solution to make blockchains GDPR compliant?

• Eliminating all blockchains

• Changing GDPR to include special rules for blockchains

• Ignoring GDPR regulations

• Making all blockchains public

What is one potential outcome if GDPR is not adapted for blockchain?

• All data will be stored on social networks

• GDPR will be ignored

• Immutable blockchains might be made illegal

• Blockchains will become more popular