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BIGtoken’s Weekly Data Privacy Roundup

The government plays a critical role in protecting privacy rights through the enactment of laws and regulations governing the collection and use of personal data. The support for passage of these laws continues to grow albeit at a slower pace than many would hope.

ZorroSign CEO Endorses Data Privacy Bill Introduced In The U.S. House,” YahooFinance- April 6 2021

  • Shamsh Hadl, CEO of Zorrosign and renowned expert in blockchain technology, endorsed legislation in the United States House of Representatives that would create a national data privacy standard. This news is important for a couple of reasons. First, it continues the trend of industry leaders pushing for data privacy regulations. Additionally, while states are moving forward with their own laws, it is critical to pass a federal law that contains uniform regulations that will eliminate anomalies at the state level.

Consumer Privacy Push In Florida Limps Forward,” The Washington Post- April 6, 2021

  • The Florida legislature continues to work on a law that would require companies to divulge what data they are collecting, delete the data upon consumer request and forbid sharing and selling the data if “opted-out” by the consumer. However, after intense pressure from big technology companies, the current version eliminates the right of the consumer to sue for breaches which would create major hurdles for people to enforce this law. While states are pushing forward on passing privacy laws, big technology continues to fight to eliminate and/or water-down the privacy regulations.

Comprehensive Data Privacy Law Bring Big Changes To Virginia, But Excludes Personal Data,” The National Law Review- April 7, 2021

  • Virginia has become the second state to enact a comprehensive data privacy law. The law, not effective until January 2023, grants its citizens the right to “access, correct, delete, know about, and opt out of the sales and processing of their personal information for ‘targeted advertising’.” While it is not clear that this law covers employee data, Virginia’s comprehensive law is a huge step forward in creating privacy laws at the state level.

“Colorado Mulls New Data Privacy Bill,” ExchangeWire- April 6, 2021

  • Colorado has become the latest U.S. state to introduce a new data privacy bill. Still in the early stages of the legislative process, the introduction of the bill is a step in the right direction for Colorado’s focus on regulating the collection and use of personal data.

As rules and regulations continue to move forward, the balance between the benefits and potential harm concerning the collection and use of personal data continues to be debated.  Further, as the data privacy issue becomes more understood, concerns about its misuse in areas such as personal financial information has become increasingly heightened.

Balancing Privacy, Quality And Unbiased Data Is Difficult, But Not Impossible,” Law.Com- April 8, 2021

  • Clearly, the trend in data collection is for companies to ethically and legally collect data with greater transparency and consumer options concerning its use. Privacy groups such as the International Association of Privacy Professionals are organizing and studying the issues especially as the younger generations have a greater focus on protecting their personal information.

“Increase In Digital Banking Raises Consumer Data Privacy Concerns: How To Protect Yourself,” Forbes- April 5, 2021

  • For many, online digital banking has become essential for a person to manage their financial affairs. However, this trend leaves critical personal information exposed to the collection of potential harmful data. While consumers are encouraged to be pro-active in ensuring the financial data remains private (understand account information, manage passwords, use secured internet browsers, etc.), people are clamoring for regulations that will protect a person’s critical financial information.