…the EU is pioneering a distinct tech doctrine that aims to give individuals control over their own information and the profits from it, and to prise open tech firms to competition. The Economist’s article summarized the point well: Europe has enacted such far-reaching legislation to restore stability and control to governments and their peoples and to prevent anti-competitive behaviour where data (and thus power) are accumulated by a few. While the stated objectives of the GDPR are grounded in values of self-determination and protection of privacy, among others, another point of view holds that the EU’s main motivation is much simpler: competitiveness.Ī recent article in The Economist, Why big tech should fear Europe, reported that the US is home to 15 of the world’s valuable technology firms, whereas Europe is home to one. significant penalties for non-compliance of up to 4% of annual global turnover of the preceding financial year or €20 Million, whichever is greater (Art.Notification is required within 72 hours after having become aware of the breach (Art. mandatory reporting of a personal data breach unless the breach is “unlikely to result in a risk to the rights and freedoms of natural persons”.the right not to be subject to automated decision-making including profiling (Art.the right to move data from one controller to another under certain circumstances and where technically feasible (Art. ![]() the right to be forgotten, which includes the right to have one’s personal data erased from a company’s system on certain grounds (Art.extraterritorial reach, meaning that the GDPR is applicable to companies collecting or using the personal information of EU residents, regardless of whether the processing takes place outside the EU (Art.Here are a few things that are particularly striking about the GDPR: The GDPR’s stated objectives focus on the protection of personal information, “the free movement of personal data” and “the fundamental rights and freedoms of natural persons to the protection of their personal data”. ![]() The GDPR, which came into effect in May 2018, replaced the European Directive 95/46/ec and introduced strict requirements for those that control or process the personal data of EU residents. ![]() The EU has introduced significant reform to legislation aimed at protecting privacy, promoting competition and wrestling the ever-growing power out of the hands of the few. The EU’s General Data Protection Regulation (GDPR) Privacy laws are changing to address the real and perceived risks of harm resulting from the under- or unregulated data economy. How privacy regulation is adapting to innovation and why we care Regulation, often slow to adapt to the pace of innovation, is starting to catch up with the extent of personal information being transmitted every minute. a 2017 Pew Research Centre, Americans and Cybersecurity, showed that 50% of Americans believed their personal data is less secure today than it was five years ago.
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