European Union Data Act and Blockchain Technology: Challenges and New Directions

Key Points

• The regulatory framework addresses data ownership and privacy rights, which are critical for effective blockchain implementation.
• Key challenges include ensuring compliance with EU regulations while utilizing decentralized features inherent in blockchain technology.
• Assessment of data governance models reveals potential solutions for utilizing blockchain to enhance data sharing and security.
• Potential impacts on privacy rights and data usage may highlight the need for balance in regulatory approaches to blockchain.