Blockchain - Most Trusted Crypto Company

The challenges of applying data privacy regime to blockchain Sept. 23, 2019 Image via iStock.com This is part three of a series analyzing privacy laws and blockchain. Click  here  for part one and here for part two. Regulators are still considering how blockchain implementations can comply with data privacy laws. One of the first to address this issue in a material way is the French data protection authority Commission Nationale Informatique & Liberté. We will discuss the CNIL's recommendations and views on a number of compliance issues below. Determining who is the controller and who is the processor One of the biggest challenges for privacy regulators is determining who is the controller in the case of blockchain and distributed ledgers. In these cases, there is typically no one person or entity that fits the definition and can readily exercise the obligations of a controller since many persons or entity may contribute and/or control the personal...

Why is cryptocurrency seen as a natural security issue? Aug. 12, 2019  | by Bradley Cooper Image via iStock.com With Facebook's announcement of its cryptocurrency Libra, cryptocurrency has gotten a lot more attention recently, and not all of it is positive, especially from U.S. lawmakers In fact, President Donald J. Trump tweeted out his disapproval of Facebook's Libra and Bitcoin alike. "I am not a fan of Bitcoin and other Cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air. Unregulated Crypto Assets can facilitate unlawful behavior, including drug trade and other illegal activity," Trump said in a tweet. U.S. lawmakers have also been heavily suspicious of cryptocurrency, with members of Congress calling for Facebook to halt development on the cryptocurrency until they can examine it closely. And then, two weeks ago, representatives and Senators grilled Facebook executive David Marcus about it. ...

What in the world is the blockchain? Aug. 19, 2019  | by Bradley Cooper Image via iStock.com If you have been paying attention to the news cycle these past few months, you may have heard of Facebook's announcement of its cryptocurrency called Libra. The announcement shook both the crypto world and Congress as it called for the social media giant to put a hold on development until it had time to look at it. Big retailers are also jumping into the world of blockchain and cryptocurrency. In fact, Walmart recently filed a patent for blockchain powered drones. But with all this news about blockchain, many people are still confused over what exactly it is and how it's relevant to them. Everyone from retailers to digital signage vendors to restaurants are trying to get a handle on blockchain. While blockchain is a complicated topic, I believe it is possible to drill it down to a few core principles. The basics The first blockchain was c...

What is GDPR and CCPA and how does it impact blockchain? Sept. 16, 2019 Image via iStock.com By Scott W. Pink, special counsel, O'Melveny & Myers Llp. This is part two of a series analyzing how blockchain fits into the privacy law landscape. Click here to read part one. Many privacy professionals view the European Union's General Data Protection Regulation as a watershed moment in the evolution of data privacy law.  While there had been data privacy laws on the books for over a decade, many were very general in nature or specific to certain regulated industries, such as healthcare or financial services.  GDPR created a broadly applicable set of data privacy principles and introduced a number of obligations and data subject rights with which companies and other processors of data must comply. Since GDPR took effect in May of 2018, it has been followed by the adoption of very similar laws in Brazil, Thailand and most recently in California, with...

How blockchain fits in the privacy legal landscape Sept. 2, 2019 Image via iStock.com By Scott W. Pink, special counsel, O'Melveny & Myers Llp. This is part one of a series looking at blockchain technology and the transforming privacy legal landscape. Part one will look at blockchain and privacy regulations in general. Blockchain and distributed ledger technologies are poised to revolutionize the way we transact business, from making payments to conducting transactions to entering contracts. They enable decentralized, user-centric services that can create a shared, immutable ledger for recording a history of transactions. Its value lies in the integrity of the data that is tamper-resistant and can only be modified by consensus. Even governments have started to embrace blockchain as a means for electronically documenting agreements and other transactions. At the same time, government regulators have been increasingly demanding that technology companies consider co...