THE BULLSHIT EU'S PRIVACY LAW

[carlnguyen]

I've read a new EU law about privacy right. Accordingly, all companies and organisations including blockchain projects that store users' information data must comply stringent data privacy rules
Moreover, these rules are not only applied to EU-based organisations but also all over the globe organisation which service accessed by EU citizens and residents.

These law may be causes some disadvantages to blockchain organisations like some exchanges in Japan or Binance in China might delay their operation movement plan to EU, but

In my opinion, this law is very bullshit, because of those reasons
- It totally conflict to the blockchain core feature. For example, the law says that users can revise and delete their data if necessary. But in blockchain, demolishing a block after it has been built is mostly impossible. One more, the lay operators can impose fines on those company that locates outside of the EU. How it possible? Blockchain is a widely global network of node, how you fine me when I'm running a project in Asian or Carribean?
- This law totally exhorts to the centralized data storing companies like Facebook or Google, where they can easily collect and control users' data, and abuse it for their profit in a "reasonable" way.

Give me your opinion on this, do you support these rules or not?

[Beerwizzard]

These law may be causes some disadvantages to blockchain organisations like some exchanges in Japan or Binance in China might delay their operation movement plan to EU, but

The usual buisinises are working for years with this resulations and they feel fine. All those foreign marketplaces, payment systems like PayPal etc. Why should it make some sort of special harm for crypto related businesess while they are acting the same way?

- It totally conflict to the blockchain core feature. For example, the law says that users can revise and delete their data if necessary. But in blockchain, demolishing a block after it has been built is mostly impossible.

What kind of information are you storing on blockchain that you will prefer to delete with a legal support? I doubt that your request to hide all information about your money transfers will be approved by your bank or any other payment system.

- This law totally exhorts to the centralized data storing companies like Facebook or Google, where they can easily collect and control users' data, and abuse it for their profit in a "reasonable" way.

Companies like Google can do this because of their monopolistic position on the marker, which is obviously backed by some laws (but not this one).

[Jating]

I've read a new EU law about privacy right. Accordingly, all companies and organisations including blockchain projects that store users' information data must comply stringent data privacy rules
Moreover, these rules are not only applied to EU-based organisations but also all over the globe organisation which service accessed by EU citizens and residents.

Even before the advent of bitcoin/blockchain/crypto. EU has been gathering like all databases of their citizens for profiling because of the advent of global terrorism. And as we all know, EU has been the main target of extremist that's why EU has been very aggressive in the beginning of century to get as much information as they can specially those who are coming into their shores.

These law may be causes some disadvantages to blockchain organisations like some exchanges in Japan or Binance in China might delay their operation movement plan to EU, but

In my opinion, this law is very bullshit, because of those reasons
- It totally conflict to the blockchain core feature. For example, the law says that users can revise and delete their data if necessary. But in blockchain, demolishing a block after it has been built is mostly impossible. One more, the lay operators can impose fines on those company that locates outside of the EU. How it possible? Blockchain is a widely global network of node, how you fine me when I'm running a project in Asian or Carribean?
- This law totally exhorts to the centralized data storing companies like Facebook or Google, where they can easily collect and control users' data, and abuse it for their profit in a "reasonable" way.

Give me your opinion on this, do you support these rules or not?

Of course this is total contradictory to crypto because we all know that most of them are decentralized and we even have privacy coins. And that is why I really don't think the most UE countries will be friendly to us. You can also see that Binance for example has already move to Malta as they might expect pressure from Japan to share information of their user based. But there will always be two sides in a story here and I doubt that what they are pushing (France / Germany)for a "universal regulations" will not be approved by G20 in July.

[Mometaskers]

Conflict, yes totally. Can we do anything about it? Now that would be harder. Unless you can manage to run a deep web exchange, it would be difficult to escape regulations so better enjoy it while it last. If you'll buy using fiat or try to cash out to it, they will find a way to track it.

[nur rochid]

those who as power make rule seem not quality, and we can only follow their game without being able to do much. for that we must take sharp opportunities to gain profit for ourselves