by Angela Guess

According to a recent press release, “The European Union’s forthcoming General Data Protection Regulation (GDPR) will reshape the rules of data management and raise both the cost of complying with laws governing people’s personal data and the risks and considerable financial liabilities involved in mishandling it. The rule has implications across the corporate spectrum, from the general counsel’s office, to chief revenue officers (CROs), corporate strategy groups, chief security officers (CSOs), chief information officers, to the developers’ suite. Microshare’s new white paper, available here, is particularly focused on GDPR’s implications on the vast streams of data generated by the Internet of Things (IoT) which will be particularly vexing due to its volume, the disparate nature of its sources, and the lack of common standards across IoT networks. GDPR and other regulatory and security initiatives will complicate efforts to store, analyze, share and sell IoT data, a problem that threatens to undermine bullish forecasts about the potential size of the IoT data market.”

The release goes on, “The advent of IoT will require new thinking with regard to data management and ownership, which currently assumes data has a single owner and that data transactions involve two parties (or three, if the regulator is included). This cozy concept — the norm since the start of the information economy — is being overturned by the speed, quantity, portability and diffuse demand for the valuable information now generated by billions of new IoT sensors. Yet with the right mix of standards, privacy and compliance controls, context, and auditable micro-contracts, a sharing economy fed by the powerful firehose of IoT can flourish and transform digital business models even in the age of GDPR. Microshare, uniquely, exists between the IoT networking layer and the standards-free edge, precisely the right place to ensure data is shared with only the right people and at the right time and under the proper circumstances.”

Read more at Marketwired.

Photo credit: Microshare