O’Melveny Worldwide

Blockchain Tech News: How Blockchain Fits in the Privacy Legal Landscape

September 2, 2019

O’Melveny’s Scott Pink wrote this piece, which is the first of a number of articles that will look at blockchain tools and the developing legality of privacy in regards to the technology.

“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 ... At the same time, government regulators have been increasingly demanding that technology companies consider consumer privacy while designing their technologies ... These two trends are on a collision course in that the decentralized nature of blockchain and distributed ledgers is viewed as incompatible in many ways with the principles of transparency and control that are the hallmarks of recent privacy legislation. However, with the proper approach by both industry and regulators, these technologies can comply with and even enhance most of the protections contemplated by the new privacy regulations.”

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