Attorneys James O'Brien and Ahmad El-Gendi discuss a recent EU court ruling that may affect countries moving data in and out of Europe, as well as U.S. security, surveillance and defense laws.
In today’s rapidly evolving global economy, data is king. Whether we’re talking about blockchain, analytics or how much your online shadow personality is being sold for, there is no doubt that there is an incredibly lucrative market for gathering, storing and selling data. In fact, influential companies like Facebook transfer data across the Atlantic Ocean as part of a $7.1 trillion transatlantic economic partnership between Europe and the U.S.
While Facebook must have been thrilled about the revenues related to its data business, a privacy activist and lawyer residing in Ireland, Max Schrems, was much less giddy about his data being used as a cash cow at the expense of his privacy. Mr. Schrems decided to throw a wrench in things when he filed a complaint that found its way to the highest court in Europe, leading to a legal decision recently issued that will inevitably affect not just the economics of the transatlantic partnership and other countries moving data in and out of Europe, but may also affect U.S. security, surveillance and defense laws. [...]
This is an excerpt from a blog post originally written on the Lowndes Tech blog. To read the entire post, click here.
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