You most likely have been getting several emails from tech companies about GDPR and its launch on the 25th of May, 2018, are you wondering about the meaning of GDPR?
First of all I need to let you understand that the full meaning of GDPR is General Data Protection Regulation.
History of GDPR
GDPR was first proposed in 2012 as a replacement for the 1995 Data Protection Directive, adopted when the internet was just getting started. GDPR originally passed in 2016, is to give internet users more control over their data and privacy.
What is GDPR for?
GDPR is a regulation meant to protect and empower internet users data privacy and to reshape the way organizations across the region approach data privacy.
In layman terms, the regulation is the right to privacy and protection of European internet users which gives them right to be anonymous in the data that they share with businesses and enterprises. To ensure this, GDPR makes it compulsory for business to seek consumer permission, which must be “freely given, specific, informed, and unambiguous.”
Penalties failure to comply with GDPR
Failure to comply with GDPR attracts degrees of penalties which can be up to €20 million or 4% of the worldwide annual revenue.
Even if your business does not serve citizens of EU, you need to be aware that the African Union recently released it own data protection guidelines called Personal Data Protection Guidelines for Africa (PDPGA). The document (available as PDF) has a lot of semblance to GDPR. In order to be on the good side of the law, this is definitely a good time to review your business readiness for GDPR compliance.