I just thought it was worth pointing out, while people are freaking out about governments banning private cryptocurrencies, the new GDPR that takes effect 2018-05-25 will make it illegal to permanently store Personally Identifying Information (PII) in a computer database. Systems that store such information will require a mechanism for the person who is the subject of such PII to request that information's permanent deletion.
It will be impossible for Bitcoin and other decentralized, public, transparent blockchains to comply with this regulation, since there is no centralized authority who can delete a record from the blockchain.
It will be irrelevant for Monero since there is never any PII stored on the blockchain. So - when the topic of government bans comes up, Monero may be the only survivor.
twitter.com/hyc_syma...s/968779535721345026
Note the heavy use of "may" above. While it's clear that Bitcoin and other transparent coins will be in violation of the GDPR, it's not certain that Monero is in the clear, yet. The PDF document linked in this tweet has an initial analysis of the situation:
twitter.com/jpmens/s...s/968814289011306496
It will be impossible for Bitcoin and other decentralized, public, transparent blockchains to comply with this regulation, since there is no centralized authority who can delete a record from the blockchain.
It will be irrelevant for Monero since there is never any PII stored on the blockchain. So - when the topic of government bans comes up, Monero may be the only survivor.
twitter.com/hyc_syma...s/968779535721345026
Note the heavy use of "may" above. While it's clear that Bitcoin and other transparent coins will be in violation of the GDPR, it's not certain that Monero is in the clear, yet. The PDF document linked in this tweet has an initial analysis of the situation:
twitter.com/jpmens/s...s/968814289011306496
