E-Economy and Privacy

With the development of the network and the numerous digital platforms, the way of doing business has profoundly changed. People and businesses are increasingly buying online. Business-to-business sales of products and services are made on the Internet, mainly using mobile devices, such as smartphones and tablets. Online or mobile financial transactions, social media traffic, and GPS coordinates are estimated to generate 2.5 exabytes (billion gigabytes) of data every day. It is therefore clear that electronic commerce plays a central role in the digital economy. In the Economy, the use of companies to collect data from their customers, users, suppliers, and transactions that have value for the company as input both for the improvement of existing products and services and for the supply is becoming increasingly important. of products and services to other customer groups. A recent study quantifies the value of the Data-Driven Marketing Economy (DDME) with respect to the revenues generated for the American economy. The study quantified that DDME is worth $ 156 billion in terms of revenue for the U.S. economy in 2012 and notes that the real value of the data is in their application and exchange across the DDME (Marketing Institute Data -Driven). This innovation caused a greater sensitivity on the subject of personal data and privacy which on 25 May 2018 was the subject of a real countdown, accompanied by a substantial training and information campaign following the introduction into the new European GDPR Regulation which it is producing and will produce greater effects in the economic sector, in terms of adjustment costs, especially for small and medium-sized enterprises. Especially for companies that have data as their core business, running into data spills would therefore cause enormous reputational damage, which would also affect the turnover of the company in question. In some cases, therefore, the costs resulting from the loss of data are greater than the investments necessary for the adjustment. The GDPR acronym indicates the General Data Protection Regulation (GDPR), or EU Regulation no. 679/2016 on the protection of personal data (or Privacy Regulation) which entered into force on 24 May 2016, applicable from 25 May 2018. It repealed Directive 95/46 / EC, unlike Directive (EU) 2016/680 of European Parliament and Council, relating to the protection of individuals with regard to the processing of personal data by the competent authorities for the purpose of prevention, investigation, detection and prosecution of crimes or execution of criminal sanctions, as well as the free movement of such data, which repeals the Council Framework Decision 2008/977 / JHA. The GDPR is a "regulation" of the European Union which overlaps the privacy law and intervenes in data protection obligations, for example of public administrations and many companies. These regulatory instruments will be applicable in the countries of the Union which will thus have to adapt the national legislation to the European one. This study examines the main innovations introduced by the new European GDPR Regulation and the tools to protect data and privacy considering the direct implications of the use of data on the economic dimension both in terms of data exploitation and in terms of of the economic use of privacy: two sides of the global E-economy.