Why Innovation And Regulation Should Work Together
If there is one single matter that worries tech leaders today it is the difficulty in conciliating innovation and regulation. Most companies, from tech giants to startups, are still trying to adjust to the EU’s General Data Protection Regulation (GDPR), and yet more of the same is coming. The next step will be the adoption of the EU’s ePrivacy Regulation, which will be published toward the end of 2018 or early 2019.
Recently, lawmakers signed the California Consumer Privacy Act into law. It will only take effect in 2020, and while not as far-reaching as the EU’s protection — as it offers some loopholes to the industry — it goes in the same direction. Those implementations will have effects on current business operations and future innovation.
The fact is that if the European Union hadn’t stepped in with strong regulations, cybercrime would reach epidemic proportions and eventually erode our businesses and damage the fabric of the internet.
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