GDPR in the Headlines.
As the May deadline for compliance approaches, the General Data Protection Regulation (GDPR) gains a wider stage and grabs an increasing number of headlines. News about the impending regulation has appeared in marketing and business development circles for over year, but at this point, mainstream news outlets and the general public are increasingly aware of the new European regulation and what it means for all of us.
In fact, as recently as early April, Facebook CEO Mark Zuckerberg was summoned before the United States Senate (and later the House) to answer questions about data protection, with GDPR issues appearing at various points in the televised conversation. Here’s a brief summary from NBC News on Facebook’s path to GDPR readiness. The short answer: Facebook intends to make changes to its format to comply with strict new European rules regarding data use, ownership and disposal, but the process isn’t complete just yet.
A few other high-profile companies like Mastercard and IBM are sharing statements intended to update the public on their proximity to compliance, and in fact, these two organizations have launched a new company in Ireland with the expressed purpose of helping businesses achieve compliance, scramble their customer data, and add a layer of security to their existing networks. Learn more about the new company by clicking here.
Early in April, the Economist offered its own take on pseudonymization, the practice of separating protected data from the identity of its owners, including names, birthdates addresses. Pseudonymization provides a for companies that handle complex digital payment information, like banks, and companies that use data for multiple purposes, like hospitals. With strong security measures like this in place, the data can be used, transferred, and stored with minimal risk of compromise. Read the full article here.
For a lightning-fast summary of the potential impact of GDPR on social media networks, (not just banks and businesses) check out this recent article from CNBC’s technology division. The implications are complex and questions remain about how some social media and technology firms will comply with the new laws while still gaining access to advertiser revenue, but a quick overview can simplify the primary points of the issue.
If you feel excited about the prospects of the new law and nervous about your company’s path to compliance by May 25, Ireland’s Data Protection Commissioner can certainly relate. Helen Dixon shared a few words at Ireland’s annual data protection conference sponsored by the Independent, which discusses the event here.