Data privacy Financial News

Data Ownership Protocol said it has raised $162 million in a recent token sale ahead of its upcoming mainnet launch later this month.

The Worldcoin Orb has open-sourced some of its eyeball-scanning machinery in a bid by founders to verify its claims to data privacy, according to a Friday blog post.

The European Union (EU) data protection agencies have flagged possible areas concerning user privacy exposures of the proposed digital euro.

European Union has raised data privacy concerns at the meta information portal that India has proposed for the micro, small and medium enterprises (MSME) of the G20 countries. The portal is sought to have details of MSMEs of every G20 member including the sectors and products they deal with. Establishing an online digital portal is crucial as it would offer integrated research, trade and business information for market research by the MSMEs. «Some members, including the EU, have raised data privacy concerns. They have asked how will the portal and data be managed,» said an official. Officials said that setting up the MSME portal is one of the three high-ambition goals, an outcome on which is being seen at the upcoming G20 Trade and Investment Ministerial meeting in Jaipur from August 24 to 25.

Digital India mission prompts concerns around privacy and data security. The Digital Personal Data Protection Bill, 2023, that was passed by the Lok Sabha on Monday, aims to address these pressing issues and it will significantly impact the lives of consumers.

The controversial digital ID crypto project Worldcoin launched on July 24 after three years of development. 

It’s now been over a decade that I’ve been waiting for a data protection law. Over that time, I have on numerous occasions (and with misplaced enthusiasm) assured colleagues around the world that a law was imminent. Each time, I’ve had to sheepishly eat my words when the then current draft was either re-written or withdrawn—to the point where this has become a standing joke in the international round-tables and conferences that I attend.

Meta Platforms will be fined one million crowns ($100,000) per day over privacy breaches unless it takes remedial action, Norway's data protection authority said on Monday, in a move that could have wider European implications. Regulator Datatilsynet said it would charge the fine every day from August 4 until November 3 unless Meta takes action. It said Meta cannot harvest user data in Norway, such as users' physical locations, and use it to target advertising at them, called behavioural advertising, a business model common to Big Tech.

Facebook has lost a legal challenge at the European Union’s top court over a groundbreaking German antitrust decision that limited the way the company uses data for advertising

On March 15, the European Parliament voted 418 to 103 (with 24 abstentions) in favor of negotiating a mandate for talks with the European Union member states about revising the new European Digital Identity (eID) framework and creating the “European Digital Identity Wallet,” also known as EUDI Wallet or EU wallet. 

Data privacy was virtually nonexistent when technology exploded in the early 2000s. There was limited privacy regarding personal information and online behaviors, and shockingly, most of it was considered company property for profit gain. With more government intervention, in addition to evolving user awareness and market forces, people have far more control over their data than ever before. But as with anything, is total user privacy inherently a good thing? 

Seven web3 companies have come together to form an alliance to focus on spreading awareness about the importance of data privacy.

Major crypto exchange Coinbase-backed startup Worldcoin has decided to stop operations in at least seven countries as a result of intensifying logistics challenges that are impacting the company’s launch plans.

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