Data awareness is a sensitive topic within the crypto community and fears regarding crypto will be disseminated by new efforts that educate people about data privacy and security.

The Information Commissioner’s Office (ICO) has started conducting a number of data awareness campaigns with the aim of building trust in cryptocurrencies. Data security breaches and privacy violations are the two most concerning issues underlying the faith in crypto market. Data privacy laws and EU’s Global Data Protection Requirement (GDPR) work to encourage people to the usage of cryptos and re-establish consumer confidence thus restoring faith in digitalization. Under the new data guidelines in the era of GDPR, ICOs are working to ensure compliance among the users of cryptocurrencies. Smaller businesses, despite having smaller budget, less brand equity and subject to draconian fines,  too garner trust and meet compliance targets. ICO Data Awareness efforts inevitably benefits the crypto industry.

Read More at: https://www.smartdatacollective.com/ico-data-awareness-campaigns-create-more-trust-cryptocurrency/

Europe's General Data Protection Regulation, commonly known as GDPR, recently became a very popular concern for most of the companies collecting data over internet. This GDPR is a rule passed by the European Union in the year 2016, setting some new rules on how companies will manage and share personal data. On 25th May 2018, they also introduced some new changes which forced the companies to make changes in their policies. Many rules in GDPR are built on rules set by earlier EU privacy policy like the Privacy Shield and Data Protection Directive, but now the rules are expanded in two crucial ways. First, the GDPR sets a higher bar for obtaining personal data than we have ever seen on the internet before. Therefore, any time a company gathers personal data on an EU citizen, it will need clear and informed consent from that person. Second, the GDPR’s fines are severe enough to get the entire industry’s attention.

Read more at: https://www.theverge.com/2018/3/28/17172548/gdpr-compliance-requirements-privacy-notice

GDPR gives customers the right to control their personal data, to modify, restrict or withdraw consent, and transfer data. GDPR helps in reinforcement of customer’s trust and reduce regulations. With unified data governance, businesses will comply easily with law regulations that redefine client personal data usage. While without it they will be at a risk of potential data breaches and loss of client trust. With GDPR, companies are required to have technologies and data and analytics solutions which help them manage their data to provide a positive customer experience across channels. In future, these organizations will be able to secure a competitive advantage by gaining client consent to use personal data and improve the customer experience. GDPR will help in increasing awareness of the value of personal data. Read more at: http://www.datasciencecentral.com/profiles/blogs/gdpr-a-change-in-the-making