Starting from Edward Snowden’s allegations about global surveillance program to Cambridge Analytica Scam, in the recent years we have seen the biggest scandals which put people’s privacy at risk. And by now, every smartphone user knows that global organizations constantly collect and scrutinize personal details of their customers to generate more sales and earn more profits.
Do you get that feeling of being watched?
Well, if you are using a smartphone connected to internet, be sure you are being watched. Today, the mobile apps can monitor the last purchases you make, the sites you visit, the content you like, and even the places you visit. All of this “DATA” is used to promote products and services (primarily) but in some cases, they are also used to change your opinion or decisions by the means of Psychological Warfare.
What is GDPR?
General Data Protection Regulation (GDPR) is a welcome step towards protecting your privacy!
General Data Protection Regulation or GDPR is the regulation passed by the European Union, which mandates that the businesses and organizations must protect the personal data and privacy of the citizens of European Union, for any transaction that occurs within the 28 European Union member states. This regulation establishes the Data Protection Standards which are very stringent and it will put an additional burden on the organizations.
Why was GDPR necessary?
Europe already had the Data Protection Directives in place since 1995. In fact, European Union was the pioneer in the world as it had implemented rules even before the internet was not so widespread in the world. And data theft was not such a big concern!
The General Data Protection Regulation is a worthy replacement of those outdated Data Protection Directives! The RSA Data Privacy & Security report suggested…
– Security of the banking and financial data was the prime concern for 80% people
– Security of the passwords and identity proofs was a big concern for 76% people
– In case of data theft by hackers, 62% people felt that the company was at fault not the hacker
– 41% people even said that they put false data online to save their privacy from being exploited
These finding point at the general mistrust in the people about service provider apps and websites. People do not like unwanted marketing or their data getting stolen, smuggled, and misused against themselves. And this situation can not create a conducive environment for the world economy, can it?
This is the right time for the organizations to be held accountable for their customers’ data!
What will GDPR protect?
- Your identity proofs and identity details
- Your IP Address
- Your internet history, RFID and cookies
- Your biometric data
- Your political inclination
- Your sexual orientation
- Your health status and genetic information
Soon, we will see the similar type of regulations being adapted by several countries!
Which organizations will be affected by the General Data Protection Regulations?
GDPR will apply to every company that does business in the 28 European countries and collects or processes their customers’ personal information of EU citizens. Even companies that are not doing any business in the EU but they have access to the personal data of EU citizens, they will have to comply with the GDPR.
The gross criteria are applied to companies which have more than 250 employees. But it is also applied to the companies which have lesser than 250 employees and their processing of data impacts the EU citizens’ rights and freedom. Meaning… All the companies! And this applies to all the third-party contracts. If a company’s contractor is not complying to the norms, the organization and its contractors share the equal liability.
A survey by Propeller Insights indicated that 53% people feels ‘the Technology Sector will bear the biggest impact by the GDPR.’ Also, 45% people felt that online retailers, 44% people felt that software companies, and 34% people felt that online services market will be affected by the GDPR seriously.
General Data Protection Regulation GDPR’s impact on India:
The world knows that India leads the global IT and ITeS industry. India had 55 per cent share of the US$ 185-190 billion global sourcing business in FY18, as per an IBEF Report. So, it is natural that implementation of the GDPR will prompt Indian IT Service Providers to rethink their business strategy. Technically, it won’t be a problem as the Indian IT companies have already been complying with the regulations put forth by different countries so far.
In fact, it will be beneficial for the industry as the GDPR will only create a better future for the European IT industry! And by extension, this will boost the IT sector in India. Prolific IT Solutions Providers such as SearchNative tends to benefit the most by the implementation of the GDPR by European Union. Indian IT companies will have access to a new, refined market and better opportunities.