It is now one year since the General Data Protection Regulation (GDPR) was passed and effected by the European Union. An audit of the regulator shows that close to €56 million has been collected in fines from rogue tech companies. Further, over 200,000 cases related to breach of the law have been forwarded to Data Protection Authorities in Europe.
Not enough done
However, there is a general disagreement among privacy advocates on the ability of GDPR to rein in abuse of private data by tech companies. On the one hand, experts such as Dr. Johnny Ryan, the Chief Policy and Industry Relations Officer at Brave, believe that there are visible accomplishments for the regulations. Notably, Dr. Ryan said that tech giants such Facebook and Google are beginning to show slowing growth in advertising revenue and that is likely due to tougher rules introduced by GDPR.
On the other hand, experts such as Daniel Castro, an executive at Information Technology and Innovation Foundation, a think tank, is of the opinion that the GDPR has had an insignificant impact one year on. In particular, Castro argued that while the regulations were designed to protect consumers, they have, instead, strengthened the giant tech companies.
BAT benefiting from privacy needs by consumers
Apart from the efforts by the regulatory bodies to bring sanity in the handling of consumer data, other entities like Dr. Johnny Ryan’s Brave are actively changing the game. Brave Browser is an innovative solution which offers a different browsing experience and enhanced sensitivity to consumer privacy.
In particular, the browser automatically blocks ads, cookies from third parties. However, there is an opt-in alternative where one can view an ad then earn Basic Attention Tokens (BAT) in return. To demonstrate the significance of Brave’s focus on consumer privacy, TokenInsight data showed monthly active users grew by 450% since 2018.
Similarly, users of BAT have surged from just 1 million per month in early 2018 to an active user population of 5.5 million per month in early 2019. In March 2019 alone, active BAT users surged and TokenInsight upgraded the cryptocurrency’s rating to BBB. During the same time, over 20 million users downloaded the Brave Browser from Google Play store.