Digital Economy – DFS 19

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EDPS sees data-driven technologies as key to the future of the EU’s economic growth

On 23 September, the European Data Protection Supervisor (EDPS) released an opinion on the coherent enforcement of fundamental rights in the age of big data in follow-up to an earlier document published in 2004. According to the EDPS, data-driven technologies and services are important for economic growth, but the users of those services are generally unaware of the nature and extent of the ‘covert tracking’ that takes place. Consequently, it recommends the creation of a Digital Clearing House for enforcement in the EU digital sector, which would allow regulatory bodies to share information on a voluntary basis about possible abuses in the digital ecosystem.   

EU digital Commissioner outlines the cross-sectoral impact of big data usage

In addition, on 29 September, Commission Vice-President Ansip gave a speech entitled ‘Europe should not be afraid of data’ at the Digital Assembly 2016 in Bratislava. Referring specifically to the increasingly connected world – the Internet of Things (IoT) – he underlined its transformative potential. Referring to statistics that estimate more than 50 billion devices will be connected to the internet by 2020, Mr Ansip stated that this kind of growth would create unprecedented opportunities for industries, businesses, and people. Specifically in relation to the financial sector, he stated that it would become increasingly difficult to physically store data inside the borders of the Single Market.