Is social media a disruptive innovation?? GDPR to replace the existing Data Protection Law

S Mohini Ratna
Editor
VARINDIA
 

It’s a question of how to define digital transformation and the technology developed by the global leaders for improvising better customer experience through social strategy? Is it about identifying opportunity to engage with customers in a compelling way? Europe’s new law into privacy is expected to change the world of web.

Social media is truly a disruptive innovation which has created a new market and platform for itself. It understands the customers and the user experience and takes all types of data of the users. Across the globe, approximately 6,000 tweets are sent to the worldwide social sphere every second. Across 900 million users, those 140-character memos add up to roughly 200 billion tweets every year. When we post anything on the Internet, even those who are not on your circle lists (i.e. Friends lists in Facebook, followers on Twitter, etc.) can still listen to your conversations via wall posts and general tweets, and can respond to other tweets, etc. 

Secondly, the social medias apart from knowing about us, they can also access to the personal data. On May 25, the GDPR (General Data Protection Regulation) is being enforced which will help to shift the power towards consumers, a big thanks to the European privacy law that restricts how personal data is collected and handled to protect and empower citizens in the digital era. The law ensures that users know, understand, and consent to the data collected about them. The GDPR will officially replace 1995’s Data Protection Directive as the new global standard on data privacy for all government agencies and companies that conduct business with EU citizens will be subject to strict new data protection rules – and failure to comply can result in hefty fines.

In June 2017, Google announced that it would stop mining emails in Gmail to personalize ads. In. With this Google’s new privacy dashboard makes it easier to see what Google knows about you. In January, Facebook announced its own privacy dashboard, which is yet to launch. Though the law applies only in Europe, but the companies now have to make changes globally, because it is simpler than creating different systems. Now, every country including India, has to come out with data privacy policy soon.

Recently, the Reserve Bank of India (RBI) raised this concern along with Ministry of Electronics and Information Technology, (MeitY) and National Payment Corporation (NPCI). MeitY, according to sources is opposing to sharing of payments information under any circumstances. The ministry also had raised the issue with the apex banking body (RBI). WhatsApp Payments appears to be in trouble as it has caught the attention of regulators over the issue of data sharing with parent entity Facebook and ICICI Bank. The report also adds that NPCI seems to be okay with the terms and conditions laid by WhatsApp for sharing data.

Going forward, companies must be clear on, why they are collecting the data and moreover, consumers will gain the right to access data that companies store about them.

Lastly, it is time now for the privacy experts to plan to use GDPR as a weapon to enforce changes in corporate data-handling practices.