NEW YORK, NY – The clock is counting down on a new set of rules to be enforced this May, which will affect not only UK based businesses, but all businesses operating in the digital realm, in the event they handle user data from UK based residents, to near any extent.
There is a lot of preparation going on right now, and has been over the last year, in anticipation of these new rules. Some businesses may even disappear altogether. I for one, actually shut-down and sold-off at least one website service which stored WhoIs data via an API as it did not yield enough revenue for me to even bother with this new headache; so I dumped it.
Here is the gist:
The GDPR will introduce new accountability obligations, stronger rights and restrictions on international data handling. So if you operate any business on the Internet that stores personal information (PI) on users which could in any way identify them, addresses, phone numbers, IP addresses, etc.., be prepared to comply with the new requirements regarding the EU General Data Protection Regulation (GDPR) – (IT Governance) which has already taken effect at the beginning of the year, but becomes fully-enforceable on May 25th 2018.
Good news for UK residents; Not good news for web site owners, because there is more red-tape to deal with.
It might also be a good time, if you are the investment type, to look into technology companies that provide services related to mitigating risk and solving potential data breaches and evaluations of data security and privacy in nearly any capacity; they will likely begin moving in the financial markets if not already.
The domainer in me picked up a few data privacy and protection risk assessment domain names which hopefully I can develop soon, they are:
Data Privacy Risk
Data Protection Risk
Now I just need a good information or services related website to help provide solutions for the data protection and risk mitigation objectives of businesses scrambling for solutions.
Any way, if you have not heard of the EU General Data Protection Regulation (GDPR) – (IT Governance) or have heard of it, but have been procrastinating on evaluating your own risk, you better get moving because the time to figure out what you’re going to do about it is running out fast.
About The Author: John Colascione is Chief Executive Officer of Internet Advertising Inc. He specializes in Website Monetization, authored a ‘how to’ book called ‘‘Mastering Your Website’, and is a key player in several Internet related businesses through his search engine strategy company Searchen Networks®