Does EU Privacy Law mean the end of blockchain

[Tilbrook007]

In my opinion it is not looking good for blockchain with this new EU law:

https://cointelegraph.com/news/how-new-eu-privacy-laws-will-impact-blockchain-expert-take

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[Mohamme]

I think this may not be good news for anonymous tokens.
However, the blockchain is public, so there is no privacy law issue, and I don't want to worry too much about its impact.

[Tilbrook007]

Institutional money will not come into the crypto space with this new law in place: what a mess!
That is my opinion!

[Tilbrook007]

I think this may not be good news for anonymous tokens.
However, the blockchain is public, so there is no privacy law issue, and I don't want to worry too much about its impact.

You need to worry about it and so does everyone in the crypto space

[Tilbrook007]

This law renders many coins in breach of EU Law

[frowsiter]

In my opinion it is not looking good for blockchain with this new EU law:

https://cointelegraph.com/news/how-new-eu-privacy-laws-will-impact-blockchain-expert-take

That's just related to the EU region and EU is not the whole world in first place. It doesn't matter if these countries impose any kind of laws on the blockchain use because they will be limited to their country only and won't cords the borders.

The reason ?
Bitcoin/crypto's are decentralised and are based on decentralised blockchain thus giving it freedom from the regulations. Blockchain runs over the public server and no single government can control it. They can just avoid it but can't shut it at all. So no to worry about such news.

[Faeton]

The new rules, which come into force on May 25, should positively affect the inability to verify KYC in the conduct of ICO, since they provide for the collection of personal data only with the consent of their owner. An interesting rule also regarding the right to be "forgotten", that is, the right to demand the destruction of their personal data at any time. Although some of the fundamental principles of the existence of the crypto currency are in conflict with these new rules of the European Union, they will be fairly well correlated with the confidentiality of the crypto currency. In general, very good rules for ordinary people.

[Tilbrook007]

The fact it is a lot of existing projects that collect data will be obsolete because blockchain is immutable.
When I say obsolete I mean they will not be legal in the EU: Very negative impact on ETH, NEO, etc

[aussiesloth]

If anything, it will simply mean that coins with a privacy/anonymity aspect, such as SAFEX, will thrive in such an environment.  The whole point of the new regulations is to give people control over their personal details, so a coin that neither asks for, nor wants, a person's personal information will not have any problem with compliance of the new regulations.

[alani123]

meh...

I don't think that it'd make any difference. The use of blockchains as an industrial tool was a Sisyphean task anyway. If you make a blockchain scalable, you lose immutability, and if you do not want to compromise on immutability it's a futile database. While this law might impact certain potential uses of the blockchain, its use in crypto is already embedded and can not be hindered in any way.

[tsaroz]

Crypto and Authorities sooner or later should sum up their differences to make the world a better place with blockchain technology.
We would have some outlaw coins and users but most of the world population are ready to embrace a much open form of blockchain.

[Synaesthesia]

I dont think so. blockchain is the best invention of this century. It can be used for many many fields in our life. No one wanna ban and they also can not ban it. But with crypto is another story. if a country do not like crypto, they can prevent the exchanges or ICO activities.

[Tilbrook007]

I dont think so. blockchain is the best invention of this century. It can be used for many many fields in our life. No one wanna ban and they also can not ban it. But with crypto is another story. if a country do not like crypto, they can prevent the exchanges or ICO activities.

You need to read and understand the ramifications of this law as does everyone!

[Tallos]

Oh my got, another bad news, why mainstream hates blockchain and its technology? Everything good they wanted to ban, we dont live in freedom, we live a life behind bars

[Tilbrook007]

Oh my got, another bad news, why mainstream hates blockchain and its technology? Everything good they wanted to ban, we dont live in freedom, we live a life behind bars

It mean that many coins will not be able to be bought by EU citizens. The law has been passed. Many coins will go down in value because of this: its a mess!

[Tilbrook007]

You can think the EU support blockchain but I don’t think they do!

[drogas]

In my opinion it is not looking good for blockchain with this new EU law:

https://cointelegraph.com/news/how-new-eu-privacy-laws-will-impact-blockchain-expert-take

I thought for the most part, the EU was accepting cryptocurrency/blockchain, etc. I hope at least this won't cause another bear trend.

Though I do hope they will come around in the future and accept blockchain as one of the most important tech of the future.

[Vatimins]

In my opinion it is not looking good for blockchain with this new EU law:

https://cointelegraph.com/news/how-new-eu-privacy-laws-will-impact-blockchain-expert-take

     Damn, such a bad news. This is surely gonna be another log to feed the fire of fud out there that will cause more bloodbath on the market prices on all our altcoins. Because let's be honest, this really is a worrisome news. It can affect the freedom of use by the people in the EU. And no matter how much we say that EU doesn't hold that much people that are bitcoin lovers, they still add up to the number of people that use bitcoins and contribute to the prices. I hope that no other country will try to imitate this kind of law. :/

[Tilbrook007]

In my opinion it is not looking good for blockchain with this new EU law:

https://cointelegraph.com/news/how-new-eu-privacy-laws-will-impact-blockchain-expert-take

     Damn, such a bad news. This is surely gonna be another log to feed the fire of fud out there that will cause more bloodbath on the market prices on all our altcoins. Because let's be honest, this really is a worrisome news. It can affect the freedom of use by the people in the EU. And no matter how much we say that EU doesn't hold that much people that are bitcoin lovers, they still add up to the number of people that use bitcoins and contribute to the prices. I hope that no other country will try to imitate this kind of law. :/

Yes, the EU has just forbidden it’s citizens to be involved in many coins with this law!

[BogdanGFTP]

It is not good looking for scam speculations but not for blockchain as a technology