technomical

EU General Data Protection Regulation (GDPR) enforcement date (May 25, 2018) is fast approaching. It was designed to harmonize data privacy laws across Europe. In this connected world, its impact is not limited to EU only. It has the potential to reshape global organizations’ data privacy policies and approach. Data is often touted as “the new oil” and entire new economy is built on data sharing. New use cases are mostly around how to extract meaningful insights from the data collected, and often there is not much diligence on what to collect. The approach mostly is to get as much data as possible, and then analyze and discard the unwanted. There are no guarantees that discarded data is not in vulnerable hands for possible exploitation. Now comes GDPR, starting to put breaks on this whole model. With huge penalties for non-compliance, companies are making changes to data collection and storage methods, rewriting contracts and applications. In the Internet of Things (IoT)