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Andreas Fillmann

Blockchain involves various computers that are located in different states around the world so that the jurisdictions and applicable laws are questionable and assumingly not known to the parties using the blockchain technology.

In principle a blockchain is a distributed ledger, that can be defined as a replicated, shared, and synchronized digital data structure maintained by consensus algorithm and spread across multiple locations, countries, and/or institutions. In the blockchain digitally recorded data are stored in packages called blocks which are linked together in chronological order. It is technically very difficult to change the order such blocks, without changing the order of all subsequent blocks. Each block on the network contains a complete copy of the entire ledger, from the first block created to the most recent block and each block contains a hash pointer as a link to a previous block, a timestamp and transaction data.
Continue Reading Blockchain and GDPR – Many Open Questions to be Addressed and Solved!

The revised EU’s Payment Services Directive (PSD2) and EU’s General Data Protection Regulation (GDPR) will both come in force in 2018. Seemingly unconnected, these two regulatory initiatives share a common goal– putting customers in control of their own personal data and keeping that personal data safe.

PSD2  is an update to the original Payment Service Directive, which was adopted in 2007.  The original Directive was implemented to make cross-border payments as easy, efficient and secure as national payments in the EU Member States.  The major changes of PSD2 are:
Continue Reading Compliance to PSD2 and GDPR – A New Challenge