Have you ever wondered how blockchains can be considered secure even though hacks of cryptocurrency exchanges routinely make headlines? Or whether distributing a permanent ledger to every participant in a network might run afoul of privacy laws and regulations? Data security and privacy are frequently part of the conversation about blockchain and technology in general, and they raise complicated legal issues for practitioners and clients to consider.
In a recent article for Practical Law, Jared Butcher offers in-depth analysis of these issues, surveying the rapidly evolving landscape where blockchain intersects with data security and privacy. The article focuses on the fundamentals that practitioners should understand when thinking about the cyber threats and potential vulnerabilities in blockchain applications. It then provides an overview of the developing privacy landscape, including the potential tension between blockchain’s immutability and the GDPR’s mandates such as the right to be forgotten. Although there are no easy answers, the article walks through the questions with an eye toward fostering a better understanding of the current state of blockchain security and privacy.
Click here to read the article, “Cybersecurity Tech Basics: Blockchain Technology Cyber Risks and Issues” and learn more about these issues.