Today there was an article circulated in my office about how seriously they take GDPR. There was also a session given to us about how sensitive client data is and how do we handle client data aligning ourselves with GDPR. There are several articles available online that detail what GDPR is and how it is very important for running a business. I’m not going to go into the details of GDPR in this article but after reading about how GDPR is taken seriously, this question came to my mind.
To be honest, even though we are all into Steem Blockchain for the past few years, most of us would still be in the earlier stages of learning what Blockchain is all about and how it can become a good use case for a real-world scenario. We are already detailing with lots of data. For most of the business, it is client data and for some business, it is even sensitive data. As far as I know, blockchain is a perfect technology that can handle decentralized data or the data that can be accessed by anyone. Any public data or information can be easily maintained in a blockchain and it will be permanently stored.
I know for the fact that there are different types of blockchains available and there are also many ways in which solutions are implemented. When it comes to data storage, the main advantage of having the data in the blockchain is that we can permanently store the data and no one can tamper it or delete it from the chain. This is one of the most fundamental concept of Blockchain. If we will have to take GDPR into consideration and build a Blockchain, how will it be possible to clear data from the chain which is older than 5 years? But this will not be a problem for public data but when it comes to client data or sensitive data, this can be a problem.
I was thinking that we might have to create Blockchains in such a way that the data from the chain can be stored and accessed only by an encrypt and decrypt mechanism. When we have to clear some data beyond 5 years, we have to somehow find a mechanism to throw the key of the rooms where that data will be available. Additionally, we should also make sure that the door of the room is also strong enough for anyone to break open. This is just one way to handle GDPR in the blockchain. But experts can even have better suggestions and better ideas.
I’m still in the learning phase and I know that I have so much room for understanding these factors. If you have some insights on this thought, you can give a shout.