EU To Allow Business To Access Personal Data Of Users

The European Commission has prepared a reform that will allow businesses to access people’s personal data. In this way, the European Union hopes to encourage companies to create new products and services, creating competition for American and Asian giants.

The European Union has proposed new rules under which businesses will be able to access people’s personal data, says Bloomberg. The agency stresses that in this way the EU is trying to create competition for American and Asian giants, as well as to spur innovations in areas such as climate change and healthcare.

The new rules have been proposed by the European Commission, the EU’s executive body. They provide companies with access to data that is usually hidden due to rules concerning privacy, trade secrets or intellectual property rights.

« Given the ever-growing role of industrial data in our economy, Europe needs an open but sovereign single market for data, » said European Commissioner for Internal Market Affairs Thierry Breton. According to him, changes can « help Europe become the number one continent in terms of data ».

The European Union hopes that companies that have received more data will create new products and services, including those that help researchers meet the challenges facing society, writes Bloomberg. The changes, in particular, will make it easier for people to provide data for non-profit research.

As part of the proposed reform, companies will not be required to have their headquarters in Europe or to store data here, the agency notes. However, they will have to appoint local representatives responsible for participation in the programme. In addition, companies will be required to take legal and technical measures to ensure that they do not meet the illegal requirements of third countries, Bloomberg writes with reference to EU officials. To be considered legitimate, requests must be protected by an international agreement and must respect European principles, said one of the officials. He stressed that the purpose of the request must be clearly defined.

However, the EU does not intend to abolish the requirements of the Data Protection Regulation (GDPR), which has been in force since 2018, writes Bloomberg. Companies and government agencies will have to implement technical solutions to ensure confidentiality, such as making all personal data anonymous before they can be accessed.

source: bloomberg.com

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