Cryptocurrency Industry: Representation of Article 13


The General Data protection Regulation law (GDPR) of the European Union has been described as the most crucial change in the data privacy regulation in 20 years. This has received a mixed reaction after its introduction as Article 13. The fallout was limited to a handful of the projects in the Cryptocurrency industry that bowed out rather than accepting the incoming regulations. As LTO network (A hybrid Blockchain company) noted, GDPR has posed an even greater challenge to the Blockchain projects owing to the intrinsic characteristics of the technology causing some projects to shut down and as well as go out of the businesses.

As the European Parliament has voted in the Article 13, the crypto businesses have faced another logistical challenge on how to remain compliant while simultaneously operating public Blockchain networks that are meant to be resistant o censorship and thus not allow to copyright law. Quite a handful of the crypto companies including the LTO Network have accepted and embraced the Article 13.

Not all of the companies did express likings for the Article 13. The Digital Liberties group Electronic Frontier Foundation has even described the Article as a censorship machine that aims to put thousands of the daily activities and millions of the internet users at the mercy of the algorithmic filters. On the contrary, the opponents of the copyright law including Tim Berners Lee is overseeing Solid (a decentralized app) enabling the users to own and control their data. Article 13 excludes content shared for the purpose of review, criticism, quotation, pastiche, parody and caricature so that the memes remain safe. This is how Article by itself has inspired a lot of memes. Article 13 was accepted to fasten the theft of the intellectual property and the help the industry in a whole, make the industry robust.


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