Bitfury Group creates blockchain app that will help companies comply with new EU regulations regarding personal data protection principles. The company is positioning it as the world’s first platform designed to protect risks associated with the processing of personal data.
Tool for storing and protection of personal data Bitfury fully meets the new Provision on the General EU data protection (GNP), which entered into force in may 2018 – now, companies can process personal data only on the direct consent of the users.
The new rules apply to all companies that are in any way engaged in the storage or processing of personal data of EU citizens: websites, social networks, instant messengers, mobile operators, and large data centers, it companies and outsourcing service providers.
«Platform Bitfury offers turnkey solution for companies that fall under the new regulations of the EU – said the co-founder of the company Valery Vavilov. Our solution is designed to allow faster, safer and cheaper to fulfill this requirement, which in turn will give users greater confidence that their personal data adequately protected».
This software is open source built on the blockchain the platform Exchon that allows you to create an immutable registry of all actions with the user data, which is one of the requirements of the GDPR.
Built-in data protection mechanism of the platform based on continuous backup of all actions that require approvals from concerned users, whereas all of the operations require a cryptographic proof. For data loss prevention platform supports end-to-end encryption.
«The decision Bitfury guarantees the removal of your personal data and encryption keys after a period of storage of personal data. The cryptographic proof will allow users to check facts storage or delete data using a specialized interface,» say the developers.