What is GDPR?
“The EU General Data Protection Regulation (GDPR) replaced the Data Protection Directive 95/46/EC and was designed to harmonize data privacy laws across Europe, to protect and empower all EU citizens data privacy and to reshape the way organizations across the region approach data privacy.” EUGDPR.
This blog aims to serve data enthusiasts with an overview about GDPR.
GDPR required for data protection of the consumer. Hereafter, any company that is storing and processing the data of EU citizen with being entitled to abide by the GDPR guidelines. The changes are made to protect the consumer information. Also an essential initiative and part of the digital single market (DSG).
Crucial aspect introduced is extended accountability and increased penalties. Companies need to ensure and predominantly careful while adjusting their data protection measures to meet up with the GDPR standards. For the data security, GDPR is following a risk-based approach. For implementing the Data Protection Management System (DPMS), companies need to make the significant effort because it has to complies with the GDPR regulations. EU also facilitates to have harmonisation process.
The fundamental principle of accountability in Art. 5 Sec. 2 GDPR, consist of two main elements.
1. The controller has the responsibility to ensure the companies aligned with compliance with GDPR.
2. The controller’s ability to prove compliance to Managerial Authorities.
The principle of accountability directly into effect and companies that are not compiled according to the guidelines can be fined with up to EUR 20,000,000.00 or up to 4% of the total annual turnover worldwide (Art. 83 Sec. 5 lit. a GDPR; see Sect. 7.3).
What kind of impact can be expected? .
1. Web Analytics:
One of the main clauses in GDPR is data privacy. Hence there will be a significant impact on the web analytics, as it is used to collect data of customers and competitors. The effect can be seen to both data controller as well as data processors within the European Union.
The big question, will I be about the process or use the data collected via web analytics?
It is possible to process the data upon received the consent or the approval from the individual, but companies need to ensure, the permission based on GDPR guidelines changes.
2. Data’s sharing companies.
Thanks to new announce on data protection it recently came to light that company like PayPal was sharing personal information of the client will 600 companies. Apparently, due to its introduction now more restrictions imposed in individual data sharing and secure the information. Big thanks to EU
From 25 May 2018, GDPR will be in effect, and the companies in non-compliance will face massive fines.
Reference and Credit: The EU General Data Protection Regulation (GDPR) “Paul¬Voigt¬· Axel¬von¬dem¬Bussche”