GDPR Compliance is Changing How Retailers Handle User Data

Unless you've been living under a rock, you've probably heard of the General Data Protection Regulation.

Overview of GDPR. The purpose of the GDPR is to standardize data protection laws and impose new rules on how personally identifiable information is controlled and processed.

EU lawmakers have been negotiating GDPR rules and regulations for the past three years; however, it finally came into effect in May 2018, replacing the EU Data Protection Directive of 1995.

The regulation affects all 28 countries in the EU and applies to all businesses that hold and process the personal data of EU residents, regardless of where the business is geographically located.

Mandatory breach notifications in all member states where a data breach could "Result in a risk for the rights and freedoms of individuals."

Responsibility for data transfer outside the EU. Many companies have responded positively to the new GDPR regulations.

The GDPR has had a huge impact on businesses, as it forces them to change the way they collect, store and use data from their users.

After many years of being able to harvest as much data as they'd like from users, many companies are struggling to overhaul their business practices.

Despite the recent attention that has been given to the rise and fall in the value of cryptocurrencies, very little thought has been given to the impact that blockchain technology can have on the data rights and privacy of users.

The company gives users full control of their complete purchase data and puts users' rights to own their data the very center of its business model.