It’s been a year since the landmark EU data protection rules went live. We’ve laughed. We’ve cried. It’s become a part of us.
The invalidation of the Safe Harbour agreement in October last year has thrust the legality of international data flows into question. Digital businesses have been discussing the impact of such a decision on the industry, especially on smaller companies and startups, and urged the EU and U.S. negotiators to reach a new agreement as soon as possible.
Despite the recently agreed upon EU-U.S Privacy Shield, businesses still have some time before it takes effect and have to think about alternative measures to ensure the legality of their data transfers.
Small businesses and developers around the world are starting to breathe a little easier today. After working diligently over the last few months, EU and U.S. negotiators announced a new agreement on transatlantic data flows. Dubbed “Privacy Shield,” the agreement will ensure innovators can continue to create and improve life-changing products that benefit consumers in both the EU and U.S. While the agreement must still be ok’d by various EU bodies, the news of an initial agreement is an important development nonetheless.