The document discusses the intersection of GDPR compliance and blockchain technology, emphasizing the need for businesses to adapt their data management practices to meet strict GDPR requirements. It outlines potential solutions for the financial services sector, such as integrating off-chain databases with public blockchains to manage personal data securely and compliance efficiently. Additionally, it highlights the roles of key consultants at Initio who assist clients in navigating regulatory and technological challenges.

1. When GDPR meets Blockchain
« Where are we going right now? … »

2. Dealing with the EU Data Privacy Constraints: Focus on GDPR
« How can Blockchain be a way to achieve GDPR compliance? »
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Explicit data protection “Rights” driving data protection rules
Mandatory notification requirement in case of Data Breach
Privacy by design & default: a tailor-made solution is required
The European Union Residents are now identified as the ultimate Data Owners
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Requirement to appoint a Data Protection Officer (DPO)
Need to re-adapt the current data management
environment to reach compliance;
Businesses must have the capabilities to report
how they collect/process personal data ;
Data must be portable, forgettable and structured
in a clear way;
Fines for non-compliance can be as severe as 4% of
annual global turnover or 20 millions EUR.
Impacts for the financial
services
Add an off-chain DB* next to the public Blockchain
making personal data separated from hashed data;
Anchoring data in a public Blockchain without moving
it in the Blockchain environment;
A semi-decentralized ledger combined with an interface
for consumers’ consultation as reporting solution;
An automated compliant environment will reduce risks
linked to potential future non-compliance.
Blockchain as a solution for the
financial services
* Described as a side-database liked to the Public Blockchain, where all private
data are stored in a structured, portable and forgettable way.

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Our Consultants
« Learn more about our consultants, their main points of expertise … »

4. Our key contacts
« We provide you our best talents to support your biggest challenges »
Senior Consultant & Blockchain Leader
Initio Luxembourg/Brussels
Sami El Bouamri
Sami provides advisory services to a large portfolio of clients from various industries such as Banks and Insurance
companies and Investment funds (Hedge funds, PE/RE funds). His experience in Audit, Risk management and
Compliance combined with strong IT skills led him to work on various complex and multidimensional challenges.
He is supporting his clients on various aspect such as regulatory matters (Solvency II, PRIIPS, IFRS 9, UCITS V and
on other Risk Transparency reportings) on one side, and on the other side Blockchain (DLT), Machine learning/AI,
matters. His diversified experiences make him a trusted partner for your business.
Senior Manager
Initio Brussels
Brice Boland
Brice is a Senior Manager who, thanks to his managerial skills and dedication, has dealt with a strong client
portfolio comprised of clients from various industries such as Banks, Insurances companies and Investment
Funds.
Before joining Initio Brussels, he worked in audit and advisory for companies such as SME, Groups & Financial
Holding - construction, real-estate, energy, retail, insurance clients. This allowed him to gain a deeper expertise in
-IFRS & BEGAAP accounting standards; External financial audit techniques of industrial companies. His diversified
experiences make him a trusted partner for your business.
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Contact information
« Feel free to contact us if you have any questions … »
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6. Contact information
« Feel free to contact us if you have any questions … »
BRUSSELS
Boulevard Brand Whitlock, 60
Brussels, 1200 Belgium
+32 (0)2 669 77 44
brussels@initio.eu
LUXEMBOURG
153-155 rue du Kiem - Entrée D
8030, Strassen Luxembourg
+352 (0) 27 72 39
luxembourg@initio.eu
GENEVA
Rue du Commerce, 4
Geneva, 1204 Geneva
+41 (0) 22 591 79 21
geneve@initio.eu
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