New opportunities are readily discovered due to the increased availability of data and analytics, as well as broader access and transparency of securities markets.
INTERACTIVE AND NEW MEDIA
Art, design and technology brings increased revenue generation through digital convergence in business education and entertainment for branded products and services.
AI opens bold, new horizons in pattern identification, systems optimization, image recognition and analysis, customer relationship management and digital rights
HEALTH / MEDICAL / BIOTECH
Managing and interpreting medical information brings opportunities to add value in new product and drug discovery, clinical testing, production, medical record keeping and patient management.
PRINT AND BROADCAST MEDIA
Traditional media is evolving to take advantage of digital world technologies in order to extend distribution channels in targeted markets. Improved content quality increases efficiencies in production.
Exxe Group identifies opportunities across a wide range of technology centered industries.
The firm invests only on a opportunistic basis in companies with extraordinary characteristics.
The firm’s key principals take an active role in the development and direction of a company and helps guide the Board of Directors.
US BUSINESSES and how GDPR will AFFECT THEM!
The new GDPR (General Data Protection Regulation) is less than 90 days away and it’s estimated that only 21% of U.S. businesses have a plan in place. That means 79% of U.S. businesses haven’t figured out how they will report breaches in a timely fashion, provide customers the right to be forgotten, conduct privacy impact assessments (PIAs) and more. If you are one of those businesses that haven’t put a plan in place because you don’t think the new regulations apply to you in the U.S., you’re wrong.
As the new regulation states, any company processing, storing or using data related to an EU citizen will be subject to citations and accompanying fines for noncompliance -- even if it’s just one customer. That’s right, there is nowhere to hide. If your organization manages data that involves even one EU citizen and you don’t properly comply with the new GDPR, you can face fines up to 4% of your global revenue (up to £20 million).
The threat of stiff penalties has forced tech giants like Facebook to hire additional personnel to decipher the regulation’s many layers and ensure they’re fully compliant.
AWS, Amazon’s secure cloud server platform, says that it welcomes the GDPR. On top of its own compliance, the computing/storage giant created a new data processing agreement (GDPR DPA) available to all its customers and offers additional resources to help them comply with specific requirements. Among the multitude of product and service updates Google must make, it has already amended its terms and conditions for AdWords Customer Match and AdWords Store sales. The tech behemoth urges users to log in and accept the “new data protection terms related to the EU General Data Protection Regulation (GDPR) and other EU privacy frameworks,” as soon as possible so their paid ads remain eligible to serve.
But what about the 79% of companies who have no plan?
Compliance will vary by company and industry, especially for those operating in new technology markets. Cryptocurrency is one of the newest and most unregulated commodities. In response to the current cryptocurrency craze, high-growth currency exchanges have erupted around the world. Anonymity is at the core of decentralized transaction processing and the underlying blockchain technology on which cryptocurrency was built. Cryptocurrency was designed to be decentralized, operating outside current financial regulations like those enforced by the Financial Industry Regulatory Authority (FINRA) and the Securities and Exchange Commission (SEC). However, cryptocurrency companies can still be fined millions for GDPR noncompliance.
The GDPR assigns distinct titles to organizations based on the way they collect and use data. Under the law, organizations are labeled as either “controllers,” “processors,” or both. However, blockchain transactions are conducted peer-to-peer and the system itself acts as a shared public ledger, so identifying “controllers” and “processors” is difficult. Fulfilling regulatory requirements like consent, as defined under Article Seven of GDPR, may pose particular issues for cryptocurrency exchanges and networks.
At first glance, some U.S.-based cryptocurrency exchanges like Coinbase and Kraken haven’t released any collateral to suggest they’ve made efforts toward GDPR compliance. Such rapidly growing companies could be focusing resources on scaling their business, making the GDPR a lower priority. That being said, come May 25, digital currency exchanges could be an easy target for the EU Parliament, whether they are prepared or not. Great information here about how important data and online privacy! https://www.statista.com/topics/2476/online-privacy/
What is the GDPR?
The GDPR (General Data Protection Regulation) seeks to create a harmonised data protection law framework across the EU and aims to give citizens back the control of their personal data, whilst imposing strict rules on those hosting and 'processing' this data, anywhere in the world. The Regulation also introduces rules relating to the free movement of personal data within and outside the EU.
Individuals are increasingly data-savvy and:
Understand how brands use their data for sales and marketing purposes
Are aware of their rights with regard to their personal data
Are concerned about the well-publicised threat of cyber data theft
Most organisations are concerned about the potential significant financial penalties the Regulation can bring, but some forward-thinking companies are also planning how to turn GDPR into an opportunity in 2017.
GDPR is more than just information security, data governance or training employees. It is complex and far-reaching legislation, comprising many components that touch organizations in numerous ways and at all levels.
At the same time, GDPR is just the latest in the ever-increasing number of regulations which needs a strong Information Governance program and technical framework to succeed. A comprehensive approach is required, taking all of its aspects into consideration.
The assessment we developed can be a great help with that, whether your company has already begun tackling GDPR or is preparing its first moves. The assessment begins with determining the main GDPR stakeholders in your organization per key area of attention. This is done together with the person responsible for data privacy in your organization (you may even already have a special data privacy officer in place). These stakeholders might be: representatives of the HR department, for communication, training and personnel data; of the marketing department, for protecting your brand and your customer data; and of the IT department, for security issues. Interviews and workshops will be planned with all these people.