Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/312240 
Year of Publication: 
2022
Citation: 
[Journal:] Electronic Markets [ISSN:] 1422-8890 [Volume:] 32 [Issue:] 3 [Publisher:] Springer [Place:] Berlin, Heidelberg [Year:] 2022 [Pages:] 1779-1794
Publisher: 
Springer, Berlin, Heidelberg
Abstract: 
This position paper discusses the challenges of blockchain applications in businesses and the public sector related to an excessive degree of transparency. We first point out the types of sensitive data involved in different patterns of blockchain use cases. We then argue that the implications of blockchains' information exposure caused by replicated transaction storage and execution go well beyond the often-mentioned conflicts with the GDPR's "right to be forgotten" and may be more problematic than anticipated. In particular, we illustrate the trade-off between protecting sensitive information and increasing process efficiency through smart contracts. We also explore to which extent permissioned blockchains and novel applications of cryptographic technologies such as self-sovereign identities and zero-knowledge proofs can help overcome the transparency challenge and thus act as catalysts for blockchain adoption and diffusion in organizations.
Subjects: 
Confidentiality
Data protection
Digital wallet
Distributed ledger technology
Privacy
Verifiable computation
JEL: 
O14
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by Logo
Document Type: 
Article
Document Version: 
Published Version

Files in This Item:
File
Size





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.