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BIGtoken Weekly Data Privacy Roundup

Great Britain has proclaimed its intention to enact one of the strongest data privacy laws in the world. In another interesting governmental development, some of the largest technology companies have promised billions to help U.S. cybersecurity systems.

UK to overhaul privacy rules in post-Brexit departure from GDPR,” The Guardian- August 26th, 2021

Leaving the EU has left Great Britain behind in enacting its own privacy rules.  Great Britain has vowed to enact its own privacy regulation that will be one of the strongest in the world.  Still, the law needs to be approved by the EU to enable data transfers between the UK and EU. One should expect much political fighting as this process begins.

Big Tech pledges billions to bolster U.S. Cybersecurity Defenses,” TechCrunch- August 26th, 2021

Following a meeting with President Biden, Apple, Google, and Microsoft, despite their different perspectives on data privacy, have pledged billions of dollars to improve U.S. cybersecurity. Amazon Webservices was also present, but Facebook was conspicuously absent.

Statistics indicate that people and companies around the world are increasingly more concerned about violations of privacy rights and are ready to invest the necessary time and money to develop solutions to the problems.

Concerns around data privacy are rising, and blockchain is the solution,” Cointelegraph- August 22nd, 2021

As the alarm bells ring louder about data privacy concerns, the primary solution people focus on is the development of a Web 3.0 and a decentralized blockchain.  The fact that cybersecurity firms are growing at a rapid pace indicates that companies are truly beginning to focus on solving these enormous problems in the data privacy world.

“The Data Privacy Industry Is Hot. Here’s What Entrepreneurs Should Know, According to a Top Founder,” Inc- August 26th, 2021

According to industry expert Kabir Barday, founder of OneTrust, data privacy and cybersecurity issues have become important discussions for the boards of many companies. He advocates implementing the latest security measures and privacy protocols.  However, he also strongly advocates for the use of an outside third-party risk team in case any insiders are part of the problem.