In the past year, the privacy law landmark of Europe named GDPR (General Data Protection Regulation) put giant technology on the defensive. Present day, through their companies under unrelenting inquiry over how they treat the user data, CEO of Apple Tim Cook, CEO of Google Sundar Pichai and Facebook CEO Mark Zuckerberg called for the same comprehensive privacy legislation in the United States on a federal level.
Data Privacy legislation becomes an infrequent bipartisan matter on Capitol Hill whereas few states swiftly forged ahead with their own EU law versions. Although policymakers and CEOs pile on the praise for General Data Protection Regulation, also they are quick to highlight its flaws. In a blog post, Mark Zuckerberg wrote that as lawmakers accept new data privacy regulations, he hopes that they can help to answer a few of the questions that GDPR leaves open.
Good and bad Aspects of GDPR
Last May, the GDPR went into effect across the European Union, harmonious privacy laws throughout the bloc. Privacy advocates and regulators termed the legislation as a consumer’s victory who are seeking additional control over their private data in the wake of few scandals such as Cambridge Analytica. The law consists of key features like as the authority to access and delete personal data and demand firms to inform authorities of any data breaches within seventy-two hours.
The rules of the EU also gives teeth to privacy regulation implementation. The organizations that disobey GDPR might face penalties over twenty million euros of four percent annual revenues, whichever is more significant. Until now, regulators have not imposed any of the billion dollar penalties few expected, whereas the law complexity frustrated some companies and users during its effect in the first year. Lobbyists, CEOs, and Lawmakers in the United States are considering to pick out the GDPR best parts and skip what they think as the worst.
Technology Vice President and Innovation Policy at Business Roundtable, Denise Zheng said in an interview that they want to adjust several protections under GDPR while they also desire to streamline those compliance requirements that are quite burdensome under GDPR. Moreover, Zheng share requirements such as ‘opt-in’ banners on the website can offend the online experience of users. However, penalties and fines under GDPR are pretty significant for small businesses. Zheng said that firms back several individual rights under GDPR like correction, transparency, access, and deletion of data. There is extensive support for a general framework such as GDPR that go with the privacy rules across many regions – she added.