Can a Private Blockchain Comply with “Right to Be Forgotten” Rules If It Is Immutable?
Direct compliance is challenging because the "Right to Be Forgotten" (RTBF) requires the deletion of personal data, which contradicts blockchain immutability. Compliance is achieved by storing personal identifying information (PII) off-chain and only storing an encrypted hash or a non-identifying reference on the blockchain.
When an RTBF request is made, the PII is deleted from the off-chain storage, rendering the on-chain hash meaningless without the corresponding data.
Glossar
Rules
Framework ⎊ The operational guidelines governing cryptocurrency derivatives, options trading, and related financial instruments establish a layered system of protocols designed to ensure market integrity and participant protection.
Homomorphic Encryption
Encryption ⎊ Homomorphic encryption represents a paradigm shift in cryptographic processing, enabling computations to be performed directly on encrypted data without requiring decryption.
Private Blockchain
Network ⎊ Private Blockchain describes a distributed ledger where the network participants are restricted, typically to a single organization or a tightly controlled consortium, and access to read or write to the ledger is highly restricted via access control mechanisms.