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By clicking on the “Register” button below, I agree that I have carefully read the Terms of Service and the Privacy Policy and I agree to be legally bound by all such terms. NEWS ANALYSIS: Some services including the public blockchain that’s at the core of crypto-currency and the internet’s “WHOIS” domain name identification function may run afoul of Europe’s data privacy regulations. The Parity ICO Passport Service (PICOPS) has announced that it’s last day of business will be May 24, 2018, which is the day before the European Union’s GDPR goes into effect.

PICOPS is an authentication service for the Ethereum crypto-currency. It used blockchain technology to store personal information as a way to ensure that traders in Ethereum weren’t located in places where crypto-currencies are prohibited.

Unfortunately for PICOPS, using blockchain to store personal information breaks some key requirements of the GDPR. For example, Article 5 of the GDPR requires personal information to be processed lawfully, fairly and in a transparent manner, but with blockchain there’s no transparency because everything is encrypted.

There are other problems. The GDPR requires that anyone can request that their data be deleted in their right to be forgotten. But blockchain data cannot be deleted—ever. Read more from eweek.com…

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