We use cookies to improve your website experience. To learn about our use of cookies and how you can manage your cookie settings, please see our Cookie Policy. By continuing to use the website, you consent to our use of cookies. Close

CHAPTER 7 The privacy law implications of blockchain technology

Blockchain Technology and the Law

Page 151


The privacy law implications of blockchain technology

The privacy law implications of blockchain technology

As we have seen, one the major advantages of Distributed Leger Technology that is touted by promoters is the enhanced level of privacy that accompanies the product. In its earliest application as envisaged by Nakamoto, one of the features behind the technology was its use of public key cryptography that would help to conceal the identity of a sender of Bitcoin.1 Under this regime, only an individual’s public key is available for viewing by third parties who can see that funds have been sent from one party to another on the Blockchain, but without any identifying information that would allow a third party to discover the identities of the participants. Moreover, this is seen as a means of safeguarding the personal privacy of users who will have personal details made increasingly available on the Blockchain as the technology increases in prominence.

The rest of this document is only available to i-law.com online subscribers.

If you are already a subscriber, click login button.