GDPR takes effect May 25, 18 | The battle over internet data continues

in #privacy6 years ago (edited)

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On April 14, 2016 the General Data Protection Regulation (GDPR) was made and now its about to change internet data collection, storage, ownership and usage, across the EU and perhaps globally, starting May 25, 2018.

What is GDPR?

"The General Data Protection Regulation (GDPR) (EU) 2016/679 is a regulation in EU law on data protection and privacy for all individuals within the European Union. It addresses the export of personal data outside the EU."
Source Wikipedia: https://en.m.wikipedia.org/wiki/General_Data_Protection_Regulation

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"Facebook’s Lulea data centre in Sweden. The EU’s new data regulations promise consumers more say, but could also entrench the dominant powers. Photograph: David Levene for the Guardian." Source.

What does this mean?

Though the GDPR is a legislative act overseeing corporations within the European Union, it necessarily impacts entities who do business across those borders even while stationed abroad. So US operations which reach the EU will be obligated to play by these new privacy laws.

The penalties for non-compliance are potentially very high, but in truth courts will be looked to for direction and quantum assessment, and case law precedent will lead the settlement of such cases.

All this means businesses operating in the EU are going to seek your direct and explicit consent for their continued use of your data. You may have already seen an influx of emails asking for your consent, I have.

If you deny consent you will no longer receive targeted ads from their site which is great but some companies may also deny you access to their site as a result. Its really early and not every company has weighed in as to their plan with this.

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How will this affect US Citizens?

It might not.

The companies are not explicitly demanded to abide by EU legislation for citizens outside the EU. Having said that companies may offer the same options for fear of reprisal should they not. And also companies may want to get ahead of this, change now, and just adapt as opposed to fighting this.

Or companies may who have operations in EU and the USA may aim to further exploit their US clients to retain as much profits as is possible now they they face losses within the EU.

I suspect giant companies like Facebook who are currently benefiting from non-compliance with this legislation, will be very reluctant to change their ways. I bet we users will have to demand they change, but hopefully I am wrong.

Privcy Matters | We should care how our data is collected, stored and used:

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My Thoughts:

Hopefully they these new data rights and priviledges are extended globally because our privacy matters and our data is our digital life, so control over that data is connected to privacy.

I think we can all agree its bad that companies like Facebook own your data. We should own it, and the right to value, if any exists, for the sale of that data.

What will this mean for the revenue generation for these data hog companies? Its not good. They may need to adapt or die, Facebook earns approx $20 per user, per year, from data collection and targeted ad sales, that income stream may now dry up.

Time will tell. The big data companies like Facebook and Google can fight this in the US. Therefore it will depend what the people say and do in response. Do we fight for similar legislation in our country or do we just surrender and consent so we can have uninterupted access to our favourite social media site?

For more info on GDPR and its anticipated consquences watch this Bloomberg piece:

Thanks for your time and attention. Have an awesome day.

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Muy buen proyecto.

Gracias por la informacion amigo, no estaba al tanto de esta noticia tan importante.

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