On August 20th, China passed the first national data privacy statute called Personal Information Protection Law of the People’s Republic of China (PIPL). This new bill is largely modeled after the European Union’s GDPR. This poses a lot of new obstacles for tech companies here in the United States as PIPL focuses on data collection and transfer both inside and outside of China.
According to Tech Crunch, “PIPL is particularly focused on apps using personal information to target consumers or offer them different prices on products and services, and preventing the transfer of personal information to other countries with fewer protections for security.”
Handling Data Differently
Companies that are already abiding by GDPR should have a smooth transition into complying with PIPL. Those that haven’t adapted their practices to the GDPR mold will have a much more difficult time.
Going into affect on November 2, 2021, PIPL introduces some of the most strict requirements and protections for data privacy in the world. The law broadly relates to all kinds of information, recorded by electronic or other means, related to identified or identifiable natural persons, but excludes anonymized information.
Here at Rownd, we believe that it’s about more than just compliance. New laws and regulations govern how your company collects and manages personal information. Non-compliance can result in costly fines and expensive lawsuits. Rownd is built with compliance in mind and can save your business millions of dollars annually.
Interested in learning more about Rownd? Check us out at rownd.io.