Any digital record of bank deposits opens up the possibility that its underlying set of data may be copied and that the nominal amount deposited may be spent more than once. With conventional bank deposits, banks monitor the digital records and are trusted to ensure their validity. With so-called “digital currencies” like Bitcoin, by contrast, the ledger containing the record of all transactions by all users is available to the public. Rather than requiring users to have trust in a central third party, reliance is placed upon the network and the algorithmic rules established to reliably change the ledger. The authentication technologies underpinning Bitcoin – known as distributed ledger or Blockchain-technologies – enable multiple instances of data to be synchronized and updated.
Continue Reading Blockchain Technologies Move further into the Mainstream

The final draft of the new European General Data Protection Regulation (GDPR) was agreed on 15 December 2015 and, once it has been approved by the European Parliament in early 2016, is expected to take effect by early 2018. This reform aims to update data protection law to address the challenges of the digital age while simultaneously protecting the rights of individuals and enabling businesses to utilise personal data in a more consistent manner across the European Union. The GDPR will be directly applicable in the same form in all EU Member States with the intention of reducing the burden on international organisations that, up until now, have had to vary their compliance to satisfy the particular data protection requirements of each Member State.
Continue Reading The New European General Data Protection Regulation