Blockchain, GDPR, and fantasies of data sovereignty

Herian, Robert

doi:10.1080/17579961.2020.1727094

Cited by 30 publications

(16 citation statements)

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“…Although it is too simplistic to consider the institutional future of the blockchain as a battle between law (the state) and code (blockchain-cryptographic algorithms), the conflict of institutional logics that underlie the blockchain institutions is already beginning to appear in concrete forms. A good example is the contradiction between declared EU norms of the right to the erasure of personal data and the technical impossibility of erasure in blockchain systems (Herian, 2018). In addition to the technological immutability of distributed ledgers, the institutional logic of the blockchain is explicitly aimed at preventing erasure in order to avoid the influence of third parties.…”

Section: Blockchain As An Institutional Assemblagementioning

confidence: 99%

Blockchain and institutional complexity: an extended institutional approach

Frolov

2020

Journal of Institutional Economics

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From a modern institutional economics viewpoint, blockchain is an institutional technology that minimizes transaction costs and greatly reduces intermediation. Through an analysis of blockchain, I demonstrate the possibilities of extended institutional approach – a new generation of complexity-focused methodologies and theories of institutional analysis that complement and expand the standard institutional paradigm. By using the theory of transaction value, I argue blockchain technologies not only will lead to a significant reduction in transaction costs but will also reorient intermediaries toward improving the quality of transactions and expanding the offer of additional transaction services. The theory of institutional assemblages indicates it is impossible to form a homogeneous system of blockchain-based institutions associated exclusively with the principles of decentralization, transparency, and openness. Blockchain-based institutions will be of a hybrid and conflicting nature, combining elements of opposing institutional logics – regulatory and algorithmic law, Ricardian and smart contracts, private and public systems, and uncontrollability and arbitration.

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Section: Blockchain As An Institutional Assemblagementioning

confidence: 99%

Blockchain and institutional complexity: an extended institutional approach

Frolov

2020

Journal of Institutional Economics

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“…Immutability is a key factor of blockchain technology in that this platform enables, via time stamp verification and some sort of consensus verification, the locking in of information, uploaded via blocks, into the existing blockchain data structure (Carlozo, 2017a) Additionally, once this information has been verified and uploaded onto the blockchain, it cannot be altered unless the initial data is reversed, and re-uploaded in a fresh block of information. One consideration that must be taken into account, even as audit and attestation is altered by such immutability, is the fact that this very immutability may run afoul of regulation (Herian, 2018). Another, and arguably the most important factor that sets blockchain aside from other networking and database tools, is the fact that it is a decentralized data platform.…”

Section: Blockchainmentioning

confidence: 99%

Blockchain and Cryptocurrencies – Considerations for Treatment and Reporting for Financial Services Professionals

Smith¹,

Petkov²,

Lahijani³

2019

IJDAR

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The rise and continued implementation of cryptocurrencies and other cryptoassets is having, and will continue to have, a disruptive impact on the accounting, federal income taxation, and broader financial services industries. Much has been written, researched, and discussed about both cryptocurrencies and the underlying blockchain technology, but uncertainty remains as it pertains to how these items should be reported for accounting and tax purposes. What this research attempts to accomplish, through both a review of the literature and publicly available guidance issued by tax and accounting authorities, is to document and analyze what current guidance represents for financial reporting. Additionally, this research proposes how future iterations of cryptoassets and cryptocurrencies might be reported, with recommendations applicable for both practitioners and academics seeking to expand on this work.

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“…the right of the information subject to decide on its own regarding the disclosure and use of personal information." In this regard, blockchain and privacy laws share their philosophy [18][19][20][21][22].…”

Section: Analysis Of the Flow Of Personal Information Related Tomentioning

confidence: 99%

A Study on the Effect of Blockchain on Personal Information Protection

Kim¹

2019

J Multimed Inf Syst

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In this paper, Blockchain is mentioned as the next-generation core IT technology. As an immature technology, there are not many practical use cases, but it is expected to be widely applied in various industries such as cryptocurrency, finance, public, etc. to increase efficiency and enable new services that did not exist in the past. Nevertheless, the generalization of blockchain technology is still difficult. In particular, from the viewpoint of personal information protection, GDPR of Europe, etc., is becoming stronger. Considering that the core of the blockchain is the change of information sharing and processing method, it is very important how the blockchain can affect, especially from the viewpoint of privacy, and how the Privacy Act can be applied to the blockchain. However, the discussion on this part also seems to be insufficient. Therefore, in this paper, blockchain By analyzing the implications and implications of technologies and services using them from the perspective of the Privacy Act, we will discuss how the blockchain will be used to prevent leakage of privacy.

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Blockchain, GDPR, and fantasies of data sovereignty

Cited by 30 publications

References 0 publications

Blockchain and institutional complexity: an extended institutional approach

Blockchain and institutional complexity: an extended institutional approach

Blockchain and Cryptocurrencies – Considerations for Treatment and Reporting for Financial Services Professionals

A Study on the Effect of Blockchain on Personal Information Protection

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