Q: Should the US implement a federal law replicating the
EU’s General Data Protection Regulation?
Dermot Harriss, head of regulatory solutions,
People involved with business governance and legal
affairs are often more concerned about risk than opportunity,
but business thrives on opportunity, and you don't get
opportunity without risk.
A US GDPR would be controversial. It would impose an
implementation cost and ongoing burden. It would come with
business risks. But it would also create huge opportunities,
especially in the US, because among western economies, the US
is where it would have the biggest impact.
The too-cheap-to-be-true business model that currently
dominates the US online retail economy is better articulated as
'whoever collects and exploits the most personal information
wins': think Facebook, Google, Amazon, Twitter, and their like.
Weak regulation does nothing to moderate this arms race.
Out of sight of the citizens it is collected from,...