Is BCOT's technology is unimpeded by new bill GDPR of EU


#1

Question from one of our Forum Users

Hello,
I have a question.
I am curious about BCOT’s technology is unimpeded by new bill GDPR of EU.
Bcot have already completed technology, and it is the biggest difference with other cryptocurrencies. That is why i invested in BCOT.
But EU prepare a new law of information security which works against existing technology.
Is BCoT safe from GDPR?

Ju Eun Son


#2

Yes, BCoT is safe from GDPR.

As it pertains to GDPR of EU, we are a system that allows for encrypted storage and communications. This regulation only applies to how our customers may choose to use our system. We do not store any information. The system is decentralized and storage is based on our users choice. So they may need to adhere to the GDRP but it does not affect us.

The regulation applies if the data controller, an organization that collects data from EU residents, or processor, an organization that processes data on behalf of a data controller like cloud service providers or the data subject (person) is based in the EU. The regulation also applies to organisations based outside the EU if they collect or process personal data of individuals located inside the EU. According to the European Commission, “personal data is any information relating to an individual, whether it relates to his or her private, professional or public life. It can be anything from a name, a home address, a photo, an email address, bank details, posts on social networking websites, medical information, or a computer’s IP address.”[8]

Thanks, but this does not apply directly to us.