Opinion: Congress should craft legislation to target e-commerce and social media websites without harming blockchain projects.
and the nascent decentralized web mean that these comprehensive proposals are already behind the times. Without major revisions, these legislative proposals risk strangling decentralizing technologies in the cradle.
While there are several comprehensive data privacy bills floating around Capitol Hill, the one that has the most momentum is the American Data Privacy Protection Act . This bill would strictly govern how companies collect, process or transfer user data by requiring companies to minimize data collection and grant consumers the right to opt out of data collection, among other things.The ADPPA is a well-intentioned piece of legislation designed to give consumers more control over their information.
Among more traditional internet companies, it is relatively easy to determine who is collecting, processing and transferring data because they are usually centralized. In a decentralized system like a blockchain network, that question becomes significantly more difficult to answer.
Fortunately, there is an alternative approach that the U.S. could take that could simultaneously limit the problems of a patchwork approach to data privacy law and allow flexibility for innovative technologies. The answer is to break up comprehensive data privacy proposals into nuanced, sector-specific bills.
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