If we are trying to fully understand GDPR, we must start from square one!
What is GDPR?
GDPR stands for General Data Protection Regulation.
The law was originally created in the European Union (EU) to protect the personal data of European citizens. Although it was passed in Europe, it affects businesses and users worldwide.
At the release of this new law in 2018, GDPR set new standards for data protection, and set off a chain reaction of global privacy laws that forever changed how we use the internet.
Do We Really Need the GDPR?
As a matter of fact, we do. As we already know, our personal data, typically input data, is highly valuable. Many large businesses view our information as their asset. For example, companies like Facebook and Google make profits by selling personal information to advertisers.
The GDPR is in place to tell all types of companies what they can and can’t do with your information.
What Is Considered Personal Data Under the GDPR?
Personal data is any type of information that can be used to identify you. To dumb it down a bit, it’s any private details that you wouldn’t want to fall into the wrong hands.
Here are some examples of personal data:
- Name / phone number / address / date of birth / bank account / passport number / social media posts / health records / race / religious and political opinions
We have to think of personal data like pieces of a puzzle. If you find just one piece, you might be able to guess what the puzzle is. It is when you have multiple pieces of that puzzle that a very clear picture is painted. Do you really want someone to have more information about you than you feel comfortable?
What Are the Penalties for Violating the GDPR?
The GDPR threatens those in violation of the laws with some severe penalties. To make sure companies handle your personal data in a legal way, the fines for noncompliance are up to €20 million ($23 million) or 4% of annual global turnover.
Some big names have already been hit with these noncompliance fines and we see this continuing.
What Does Rownd Have to do With This?
Here at Rownd, we don’t want you to just be compliant because there is a law that tells you that you should be. We want you to do right by each individual you are working with and we believe in truly protecting users information. We want to empower users to protect their data and revoke it at any time. We believe data privacy should be top of mind!
Want to learn more data privacy concepts? Visit Rownd Data Privacy University.