Binary privacy – interrelations between blockchain technology and personal data protection in the ЕU

Abstract

The article outlines the main interrelations between the modern technology of blockchain – a method of recording information through cryptographic models in an infinite sequence – and the protection of personal data and privacy in light of the General Data Protection Regulation (GDPR). Consideration is given to the socioeconomic prerequisites for the emergence of this new technology and a description is made of its basic functions and modes of operation. Following an overview of the origination of this technology, an analysis is conducted of the interrelations between privacy and blockchain technology, namely, what is denoted by ‘personal data’ under the General Data Protection Regulation and the practice of the Court of Justice of the European Union, whether the data and information stored through blockchain technology comes under the definition of ‘personal data’ and, if so, what data can be found. In the end, some technological solutions are discussed that might contribute to bringing closer the practical use of blockchain technology and the regulation in the field of personal data protection, and a comment is given about the future development of legislation and practice in this aspect.