Assessing the Impact of GDPR on the EU’s Consumer-First Policy

Colleagues, balancing the online protection of consumers vis-à-vis free trade and commerce flows is a challenge to any government. This challenge is at the very forefront of the EU’s new General Data Protection Regulation which goes into effect on May 25, 2018. The GDPR includes nine significant changes for EU citizens relative to its predecessor Data Protection Directive 95/46. They include Breach Notification, Right to Access, Right to be Forgotten, Data Portability, Privacy by Design, Data Protection Officers, Extra-Territorial Scope, Consent and Penalties. The UK’s 66m citizens will live under GDPR governance until Brexit goes into effect on March 29, 2019. Bottom line: What impact will GDPR have on consumers and businesses alike in the months and years ahead? For the moment let’s take a 30k foot handicap of the world’s three major economic trading zones: North America (standing firm), Europe (a vibrant history trying to maintain parity) and Asia (on a voracious growth trajectory). While EU-based businesses will feel little-to-no impact, how will multi-national corporations based in North America and Asia respond? In essence, what is their risk-reward posture for doing business on the European continent? Share your comments and join us today! Lawrence, Cyber Security Defender (https://cybersecuritydefender.blogspot.com)