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Over the centuries we have needed confidence and certainty in our transactions, as well as reliance on the validity of signatures for contractual documents. For hundreds of years, in the paper world, this trust has been supported by a consolidated framework of notaries, legalization under the Apostille and consularization in the embassies, for those countries in which they must rely on authenticated documents and notarial documents.
The long process of authentication on paper has obliged the notary profession to be regulated and to be responsible. Notaries have a professional liability insurance, are subject to data protection laws and are trained to provide reassurance on the documentation and identity on which the international community is based.
The use of cryptography as a fiduciary solution has gained approval over the years "80 and & # 39; 90 with the expansion of the digital world and the participants have requested guarantees when they rely on paperless transactions and digital signatures.
The actions of the paper world of testimony and notarisation have made their way into the digital world in the form of two-factor authentication, and these principles have been the basis for the development of PKI (Public Key Infrastructure) over the years & # 90;
Blockchain is a technology that uses the same principles as PKI, except that Blockchain validates transactions, while PKI is usually used to authenticate signatures.
A Blockchain is a database where data is stored and distributed to a large number of computers where each item or transaction is visible to all users and while the "Distributed Ledgers" technology is similar it is not identical to Blockchain. Blockchains are defined by their properties of transparency, decentralization, permanence and disintermediation, but without a central authority of "trust".
With the growth of the digital economy, we focused on PKI and Blockchain as authentication and trust solutions, but governments and regulators are now focusing on the need to establish greater trust and confidence within these facilities, as well as better protection of personal information. Moreover, while digital trust technologies are essential for the digital economy, in the paper world, the process of notarisation and the use of digital notarial are also subject to revision.
At present there is no complete standard for the regulation of trust and authentication in Blockchain and distributed Ledger and there is not even a standard in relation to the protection of people's rights in relation to their personal data.
The French authority for data protection, the National Commission of Information Technology and Freedom (CNIL), has recently examined the application of the general regulation on data protection of the EU in Blockchain reaffirming that innovation and protection of people's fundamental rights are not conflicting objectives. The research conducted by the CNIL revealed that "the person who decides to record data on the Blockchain is a controller" since they determine the personal data and the means of data processing but the rights of the data subjects are not easily exercisable in particular in relation to right of cancellation and the right to object to the treatment.
The European Parliament published a document in October 2018 on the need to strengthen confidence in Distributed Ledger and Blockchain and asked, among other things, for the protection of personal data rights. The CNIL is working with its European counterparts to produce a strong and harmonized approach and it is hoped that the European Data Protection Council will issue guidelines in 2019.
