Futurist Ian Khan weights in on European Privacy Laws
The European Privacy Law, also known as the General Data Protection Regulation (GDPR), is a comprehensive data protection law that was implemented by the European Union (EU) in May 2018. The GDPR applies to all companies that process the personal data of EU residents, regardless of the location of the company. It is considered to be one of the most stringent data protection laws in the world, and has had a significant impact on businesses and organizations around the globe.
The GDPR sets out a number of rights for individuals in relation to their personal data, including the right to be informed about how their data is being used, the right to access their data, the right to have their data erased, and the right to object to the processing of their data. It also imposes a number of obligations on businesses and organizations that process personal data, including the requirement to obtain consent from individuals before collecting and processing their data, and the requirement to implement appropriate technical and organizational measures to protect personal data.
In addition to these rights and obligations, the GDPR also imposes significant fines and penalties for non-compliance, with the potential for fines of up to 4% of a company’s global annual revenue or €20 million (whichever is greater). This has made the GDPR a major concern for businesses and organizations around the world, and has led to significant changes in the way that personal data is collected, processed, and protected.
Overall, the European Privacy Law (GDPR) is a comprehensive data protection law that applies to all companies that process the personal data of EU residents. It sets out a number of rights for individuals and imposes a number of obligations on businesses and organizations, and has had a significant impact on the way that personal data is handled around the world.
