Have you noticed lately that websites are now letting you know that they’re using cookies to track your activity? We have GDPR to thank for that!
What it stands for: General Data Protection Regulation
When GDPR goes into effect: May 25, 2018
Where you can read the official regulation “as a neatly arranged website”: https://gdpr-info.eu/
What it is: The regulation gives citizens of the EU more rights over how their information is used.
What it does: While the GDPR will harmonize data privacy laws across Europe, it will also change privacy practices in the United States and around the world. Why? Because it would be too costly and complex to set up a web-based business that complies with one set of rules for the EU, and another set of rules anywhere else. As consumers of web-based services, we all benefit. As web-based businesses, many firms have been rushing to comply in advance of today’s due date. Companies can be fined 2-4% of revenue for violations!
What it has really meant Day One:
- Complaints were filed against some tech businesses today who have allegedly failed to comply on time.
- Some American news sites blocked access from the EU, preferring that measure to compliance with the regulation.
- GDPR will mean consumers have better control over their own data, and may open new opportunities for firms as well. It will certainly drive improvements to data governance and cyber-security. (video, 2:14)