SVET Reports
California Consumer Privacy Act
Thanks to Mr. Chaw (Sen.), Mr. Hertzberg (Sen.) and, of course, to Mr. Brown (Gov.), those entrepreneurial "blockchainers" which are living on the CA territory will have to start paying for that privilege right from the start of the next year. I'm talking about the so-called "California Consumer Privacy Act" or CCPA (GDPR analogue) passed by California State Assembly in September 2018.
Citing: " ... (this) bill would grant a consumer a right to request a business to disclose the categories and specific pieces of personal information that it collects about the consumer, the categories of sources from which that information is collected, the business purposes for collecting or selling the information, and the categories of 3rd parties with which the information is shared."
On the one hand, this expensive figment of bureaucratic imagination includes some alleviations, concerning the size and the nature of businesses affected by this act such as: (CCPA is applied if either of the following is true) gross revenue must exceed $25 million; information of >50 thousands Californians is retained; >50 percent of annual revenues comes from selling personal information.
On the other, some on-line commentators (corporate lawyers, predominantly) have already noted that in case of blockchain the mere fact of storing multiple public keys on the node might be interpreted by legislators as "sharing of personal information". Of course, lawyers will be more than willing to take on themselves the heavy burden to prove that those keys are not belonging to CA residents.
Well, I guess, we all already know that regulators can be trusted absolutely when it comes to finding the most expensive and least effective way to stall innovations.