Why you need consent in the digital economy?

We live in a digital age where organisations use personal data for variety of purposes. Most of the organisations do so, irrespective of their market size. So data consent management will be an important business activity in near future. The criteria to process such personal data will be based on strict high standards. Organisations feel they have user consent data so they don’t have to worry, but with new initiative most uses of data will be around legal requirements. Under the new regime, the security obligations for organisations must be to take appropriate measures for the volume of data and the risks associated with it. It has to be a more comprehensive approach where all the stake holders are trained to improve security.

The GDPR will apply in all EU member states from 25 May 2018 and organisations who want to do business in EU, selling and storing personal information about residents in Europe, including companies located on other continents, have to adhere to the norms. These rules will benefit organisation in long run, users can easily give their consent as with good data privacy process they can control their personal data. Even website cookies usage will be restrictive; the users must have a choice. The user can always opt-out, he can withdraw his consent as and when required.

When GDPR comes into existence, organisations must have proper approach to maintain data transparency. They must inform users about how their data will be used. User consent is of utmost importance, the consent form must be user friendly and written in comprehensible language. Moreover, the GDPR grants citizens the ‘right to be forgotten’, allows user to request erasure of his personal data when the data is no longer necessary or when the citizen withdraws consent. This means organisations have to build new infrastructure to meet the good data privacy requirements.

VALID provides a user-controlled digital identity solution, which stores and sells data securely and seamlessly. Digital marketing has evolved over a period of time and to have effective marketing campaigns one must have a combination of the users’ demographic data, tastes and preferences. With VALID, users will be able to pro-actively share anonymized demographic and psychographic data, thus enabling the creation of target audience filters on the VALID platform for digital advertisers to use. However, with VALID these advertisers can never read nor copy the information, but are simply assured that a defined pool of users correspond to their audience criteria and have consented to receiving advertising from them or from similar companies as specified by the users’ interest and preference settings.

For more information visit
Website: http://www.valid.global/
Whitepaper: https://valid.global/static/valid-wp-2.pdf