In July 2022, the Singapore Private Information Safety Fee (PDPC) revealed a information to assist organisations adjust to the Private Information Safety Act (PDPA) when deploying blockchain purposes that course of private knowledge (“Information“). Internationally, companies and organisations are starting to deploy blockchains in wide-ranging purposes for finance and provide chain administration. These purposes could begin storing private knowledge in these blockchain networks, which pose dangers of noncompliance with the PDPA. As such, this Information gives a broad set of ideas and concerns for organisations to design their blockchain purposes to be PDPA-compliant, thus making certain extra accountable administration of shoppers’ private knowledge.
Whereas this Information just isn’t legally binding on people and organisations, it displays the PDPC’s stance with regard to the dealing with of non-public knowledge on blockchain networks. Organisations ought to look into and take into account one of the best practices which are supplied within the Information to make sure that they’re in compliance with their authorized obligations underneath the PDPA and usually are not uncovered to authorized dangers and liabilities.
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