This is… GDPR, Explained
It’s been one of the inescapable acronyms we’ve seen, with it being uttered online, and on every conceivable media outlet. But for something so wide-spanning and globally talked about, it’s not everyday knowledge or widely understood. Which is worrisome, because it represents one of the most significant shake-ups of online security seen so far.
So What is GDPR?
In simple terms, General Data Protection Regulation operates to give control back to consumers. Allowing customers to take control of their personal information and preventing it from entering the hands of unknown, unreliable organisations. GDPR represents a new and flexible way of protecting peoples information, while also allowing companies to provide better service.
Introduced into legislation in the UK in 2017, General Data Protection Regulation is the successor to the previous Data Protection Act.
From the full text of the regulation, a more significant degree of accountability is held over companies on the information they contain. Major data breaches in the last few years, including the more recent Cambridge Analytica exposé, have demonstrated why this legislation is needed.
What it means for consumers
As a customer, GDPR is in place to give you a higher grasp of the information you provide. Companies seeking to access or use your information for service must receive permission from you. Failure to do so can mean hefty fines for companies that abide by new legislation.
These fines are deemed to be more severe than the previous data protection act, with that resulting in fines as high as £400,000. Unlike previous legislation, GDPR is a genuinely global policy; with the same level of protection for citizens everywhere.
For children, especially in the UK, their data is subject to parental consent. Meaning that children up to the age 13 must have their parents permission before inputting any information. For other countries, this ranges from 13 to 16 years old.
Is Blockchain a step in the right direction?
Blockchain has raised significant questions over data protection and personal security. As a decentralised system, it allows for individuals and companies to store and transfer their data while ensuring confidentiality and security. This technology enables companies like DOVU to share as much information as the consumer wishes to save and share.
The likes of DOVU are demonstrating how decentralisation is improving, not hampering, the level of security individuals can have. Through providing an incentive to share information while having secure storage for any they wish to keep.