BIGtoken’s Top 10 Data Privacy Headlines From January

BIGtoken, Inc., the first privacy focused, opted-in, data marketplace, where people own and monetize their data, publishes a monthly report on the top 10 stories in data privacy.

The first and most noteworthy topic is that implementing compliant and functional data privacy practices continues to be a struggle for businesses—even one year into the California Consumer Privacy Act (CCPA), and one and a half years into the General Data Protection Regulation (GDPR).

1. “Data Privacy Abuse Continues Because We Struggle To Define The Problem,” Forbes - January 4, 2021
	○	Businesses still struggle to differentiate between data privacy and cyber security, but understanding the difference and the connection between the two will help them avoid privacy abuse.
2. “A Year in Review: Why 2020 Has Pushed Data Privacy into the Spotlight,” ITProPortal - January 2, 2021
	○	The recent global pandemic has pushed data privacy into the spotlight with growing public concern of health record surveillance, multiple high-profile breaches putting millions at risk and businesses being forced to move online in order to survive.
3. “Tech Giants Hope For US Data Privacy Law,” International Business Times - January 13, 2021
	○	Big tech companies such as Amazon, Google and Twitter hope Biden’s new administration will bring a federal digital data law similar to the EU’s so that consumers will become more informed of the data they submit daily on online platforms.
4. “Opinion in Data Privacy Facebook Case Could Lead to More GDPR Investigations,” Law.com - January 13, 2021
	○	A new opinion in the EU has sparked a debate over an individual’s right to take legal action against companies such as Facebook for violating data privacy rules, not just the main regulator in charge.

Despite the pandemic, the global data governance market is expected to grow to $5.7 billion by 2025, up from $2.1 billion in 2020. What factors are driving this growth?

5. “Washington Lawmakers Consider GDPR-style Data Privacy Regulations,” Security Info Watch - January 25, 2021
	○	Senate Bill 5062 would provide state residents with rights to choose what type of data is collected by companies, correct or delete that data, and opt out of using this data for a specific purpose.
6. “Data Governance Market Value Could Exceed $5 Billion By 2025,” FinancialNewsMedia.com - January 21, 2021
	○	The data governance market is expected to grow from $2.1 billion in 2020 to $5.7 billion by 2025 at a compound annual growth rate (CAGR) of 22.3% due to factors such as increasing volume of data and compliance mandates, and more strategic risk management.
7. “Governance, Privacy, and Ethics at the Forefront of Data in 2021,” Datanami - January 21, 2021
	○	Experts predict regulatory legislation around the world will become more strict, increasing control of personal identifiable information, and artificial intelligence will become more important in 2021 from a legal and ethical point of view.

Corporations are only as good as the privacy laws they abide by. Since businesses can no longer hide privacy breaches from the media, they need to adopt stronger compliance programs to avoid violations and large fines.

8. “Millions Flock to Telegram and Signal as Fears Grow Over Big Tech,” The Baltimore Sun - January 14, 2021
	○	Recently, tens of millions of people have downloaded Signal and Telegram, switching from apps like WhatsApp after it sent a notification that it shares some of its data with its parent company, Facebook.
9. “We Have Entered the Age of Anonymous Crypto,” CoinDesk - January 25, 2021
	○	Facebook and Twitter’s recent first amendment and censorship violations have caused a panic, resulting in millions moving towards privacy-focused technology such as Bitcoin.
10. “Norway to Fine Dating App Grindr $11.7M Over Privacy Breach,” The Washington Post - January 26, 2021
	○	Grindr violated the EU’s General Data Protection Regulation by sharing its users personal information with advertising companies without explicit consent, making this a noteworthy case that will pave the way for similar decisions against other companies who violate privacy laws.

About BIGtoken

We believe data privacy is a human right.

BIGtoken® is the first consumer-managed data marketplace where people can own and monetize their data. Through a transparent platform and consumer reward system, BIG offers consumers choice, transparency, and compensation for their data. Participating consumers earn rewards and advertisers and media companies get access to insights and verified data for media activation. For more information on BIGtoken, visit bigtoken.com.

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