What is GDPR?

The General Data Protection Regulation (GDPR) is a comprehensive data protection law that applies to all organizations that process the personal data of individuals within the European Union (EU). The GDPR replaces the 1995 EU Data Protection Directive and is designed to strengthen and harmonize data protection laws across the EU. It came into effect on May 25, 2018 and applies to all organizations that process the personal data of EU citizens, regardless of the organization's location.

The GDPR sets out a number of principles that organizations must follow when processing personal data, including:

• Lawfulness, fairness, and transparency: Organizations must have a legal basis for processing personal data and must be transparent about how they use it.
• Purpose limitation: Organizations must collect and use personal data only for the specific purposes that have been identified and communicated to individuals.
• Data minimization: Organizations must collect and use only the minimum amount of personal data necessary to achieve the specific purposes for which it is collected.
• Accuracy: Organizations must ensure that personal data is accurate and up-to-date.
• Storage limitation: Organizations must store personal data only for as long as it is necessary to achieve the specific purposes for which it was collected.
• Integrity and confidentiality: Organizations must take appropriate technical and organizational measures to protect personal data against unauthorized or unlawful processing, accidental loss, destruction, or damage.

The GDPR also gives individuals a number of rights with respect to their personal data, including the right to:

• Be informed: Individuals have the right to be informed about how their personal data is collected, used, and shared.
• Access: Individuals have the right to access their personal data and request copies of it.
• Rectification: Individuals have the right to request that their personal data be corrected if it is inaccurate or incomplete.
• Erasure: In some circumstances, individuals have the right to request that their personal data be erased, also known as the "right to be forgotten."
• Restriction of processing: In some circumstances, individuals have the right to request that their personal data be restricted from further processing.
• Data portability: In certain circumstances, individuals have the right to receive their personal data in a structured, commonly used, and machine-readable format, and to request that it be transferred to another controller.
• Objection: Individuals have the right to object to the processing of their personal data in certain circumstances.
• Automated decision-making and profiling: In certain circumstances, individuals have the right not to be subject to a decision based solely on automated processing, including profiling.

Organizations that fail to comply with the GDPR can face significant fines and penalties, including fines of up to 4% of annual global turnover or €20 million (whichever is greater). The GDPR also allows individuals to seek compensation for any damages they have suffered as a result of a breach of the regulation.

Working with a business in the EU that is compliant with GDPR (such as Broadstone.io) can provide the following benefits:

1. Increased data security: GDPR requires businesses to implement robust security measures to protect personal data. This can help to reduce the risk of data breaches and protect sensitive information.
2. Greater transparency: GDPR requires businesses to be transparent about how they collect, use, and share personal data. This can help to build trust with your customers and improve the overall customer experience.
3. Improved compliance: GDPR sets out specific rules for how businesses must handle and protect personal data. By working with a GDPR-compliant business, you can ensure that your company is also compliant with EU data protection laws.
4. Better risk management: GDPR requires businesses to conduct regular risk assessments and implement mitigation measures to reduce the risk of data breaches and other security incidents.
5. Better reputation and trust: GDPR compliance can also help businesses to build a better reputation and increase trust among customers and partners.
6. Avoid costly penalties: GDPR non-compliance can result in heavy fines, up to 4% of global annual revenue or €20 million (whichever is higher)

In conclusion, the GDPR is a comprehensive data protection law that applies to all organizations that process the personal data of EU citizens. It sets out a number of principles that organizations must follow when processing personal data, and gives individuals a number of rights with respect to their personal data. Non-compliance with the GDPR can result in significant fines and penalties, as well as the potential for individuals to seek compensation for damages. Working with a business in the EU that is compliant with GDPR (such as Broadstone.io) can provide multiple benefits.