BSA President & CEO Victoria Espinel penned the op-ed below that ran earlier today in The Hill. As she notes, today is the first day that companies can certify with the Commerce Department for the Privacy Shield.
Why are data transfers across the Atlantic so important? Cloud computing services and data analytics increasingly depend on the ability to move data across borders. And these services dramatically improve the efficiency and competitiveness of businesses large and small. They also improve our cybersecurity defenses. If data has to stop at national borders, the benefits of cloud computing will be greatly reduced, and the economies on both sides of the Atlantic will suffer as a result.
BSA thanks the US Department of Commerce and the European Commission for their hard work and successful completion of the Privacy Shield.
Privacy Shield Attracts Strong Company Support
August 1 marks the beginning of a more stable and secure era for trans-Atlantic data transfers. That’s the day Privacy Shield, a new agreement between the United States and the European Union, takes effect. And it’s off to a good start, with a number of major companies already announcing that they will join, and many others favorably considering participation in the new framework.