Two Korean watchdogs have announced a joint probe into crypto exchange operators’ handling of personal data, local news outlet Chosun reports Monday, July 2.
The probe will reportedly check the status of technical and administrative protection measures related to users’ personal data – covering data access control measures, anti-tampering measures, personal data encryption, and malware protection.
After reviewing the collection, use, provision and destruction of personal data by both crypto exchange operators and third parties, the authorities have said they will enforce administrative penalties should they discover violations of the country’s data protection laws.
Chosun reports further that the KCC will probe eight crypto money handling firms who have received corrective orders after violating Korea’s Personal Information Protection Act in 2017.
Chosun cites a local source who says that recent hacks of domestic crypto exchanges have been a strong impetus for the new probe.
Financial data records collected by FinCEN are a valuable tool for law enforcement. They’re also a trove of personal data on people who have not committed a crime.
If you get something free, that means the product is, in fact, you. Or, it’s actually your personal data which has been stolen from you, and digital corporations are trading in it behind your back, earning trillions in the process.
Your Personal Data is Worth Millions Every person around the world continues to freely offer up their personal data to the companies and services that they use everyday, whom in turn sell that data for millions to businesses that then market and advertise to you.
Blockchain's Impact On The Security Of Personal Data The internet is huge, and it continues to grow at an immense rate every single day. As such, it contains colossal quantities of personal data belonging to its users.
The Dayta vision is to solve multiple data protection, consent and privacy issues all at once. The team has designed a roadmap to build a secure, easy-to-use and robust personal information Dapp and exchange mechanism within an integrated, digital ecosystem.
In 2017, The Economist reported that the most valuable resource on the planet is data, yet we give it out for free every single day. This value is not lost on the companies that control data. Facebook’s scandal with Cambridge Analytica has shown just how lucrative this personal data is, and how frequent and dangerous […]
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Professional services firm Deloitte have announced a new partnership with Jupiter Chain, a partnership that is set to see the development and roll out of a new blockchain based data exchange in Southeast Asia.
Korean authorities, the KCC and KISA, have announced a joint probe into crypto exchange operators’ handling of personal data together with third party service providers
The Supreme Court announced on June 28, 2018, that it will not reconsider the conviction or life sentence of Ross Ulbricht, the alleged mastermind behind the darknet site Silk Road.
Can you imagine which value would have an Airbnb cryptocurrency if this company had issued a token few years ago? Talking about the future which we try to create, it’s necessary to underscore the value of #be, a blockchain-based marketplace for monetization of digital activities and personal data the same way Airbnb stands is for […]
The post #Be Major Benefits – Disrupting the Data Economy appeared first on ZyCrypto.
Vietnam legislators approved a cybersecurity bill on June 12 putting tighter rules on tech companies from the start of 2019. Vietnam has been recognised as a potential hub for blockchain activity but doubts still remain over regulatory uncertainty.
