Europe is taking a significant step towards creating a ‘common data space’ with the implementation of the Free Flow of Non-Personal Data Regulation. This legislation aims to eliminate data localisation restrictions, allowing data to be stored and processed anywhere within the EU. This is expected to save businesses up to €8 billion annually.
The regulation also mandates data availability, interoperability, and portability, thereby enabling easier switching between cloud service providers. It also includes provisions for data access and use by public authorities, contributing to the creation of a competitive data economy.
Brexit implications are also notable. The UK’s departure from the EU could potentially disrupt the free flow of non-personal data, depending on the terms of the exit. As such, businesses in the UK and EU may need to revise their data handling strategies.
Cloud services are expected to be significantly impacted by this regulation. With the removal of data localisation restrictions, cloud providers will face increased competition, which could lead to better services and lower prices for consumers.
Overall, the Free Flow of Non-Personal Data Regulation represents a major development in the EU’s data policy, with significant implications for businesses, cloud services, and the post-Brexit landscape.
Go to source article: https://diginomica.com/2018/06/21/europes-big-step-towards-a-common-data-space-has-cloud-services-and-brexit-implications/