General Requirements and Major Impacts of the GDPR
The General Data Protection Regulation (GDPR) is legislation introduced by the European Union that provides data privacy protections for consumers. The GDPR significantly impacts companies worldwide, as it sets strict requirements for data protection, processing, and storage. According to Phillips (2018), the GDPR differs from data protection legislation in the United States in that it has a broader scope and applies to any company processing the personal data of EU citizens, regardless of where the company is located. The GDPR gives individuals greater control over their data, such as the right to access, erase, or restrict the processing of their data.
GDPR on Consumers and Businesses
Perspectives on the GDPR differ between consumers and businesses. Consumers generally view the GDPR as necessary to protect their personal data and privacy. On the other hand, businesses view the GDPR as a burden, as it requires significant resources and effort to comply with the regulation. According to Phillips (2018), perspectives on the GDPR vary by industry. For example, industries that handle sensitive personal data, such as health or finance, may be more concerned about complying with the GDPR. Despite differing perspectives, the GDPR serves as a crucial step in establishing strong data privacy standards and highlighting the importance of protecting personal information in the digital age.
Reference
Phillips, M. (2018). International data-sharing norms: From the OECD to the general data protection regulation (GDPR). Human Genetics, 137(8), 575–582. Web.