Pillar Wallet for your Business --
Simplify GDPR Compliance
Is your business ready for more restrictive privacy and data protection regulations becoming enforceable in May 2018? The EU General Data Protection Regulation (GDPR) applies to any company in the world that collects any personal data on an EU individual, even if it’s only their IP address. The EU GDPR fines for data protection noncompliance are stiff.
Data shows that most businesses aren’t prepared for EU GDPR data protection enforcement. Not only must companies encrypt all personal data, businesses are also required to inform individuals on how each piece personal data collected is used. The GDPR data protection regulations also require data usage tracking reports, which are to be made available to an individual upon their request.
Summary of GDPR Requirements
- Applies to all organisations located in the EU and all organisations outside the EU offering goods & services to individuals in the EU
- Individuals must be informed of: who is collecting their data, what is being done with it, and who it is shared with.
- Individual must consent to all personal data that is being obtained by the business.
- Businesses must safeguard and encrypt personal data, and report any breach quickly.
- Individuals have a set of rights, including the rights of access, to object, to erasure and to restrict processing.
- A business must be able to demonstrate compliance by tracking each use of personal data and provide data usage tracking reports to individuals and authorities upon request.
- Fines for noncompliance of up to €20 million or 4% of worldwide annual turnover.
Pillar GDPR Solution
Sounds daunting, right? What if you could offload your customer account creation and maintenance functions and have the customer in control of their personal data? This is one of the goals of the Pillar Project: to give each individual control over their personal data. The Pillar Wallet becomes an individual’s personal data locker that they control. The Pillar Wallet provides data protection, security and the interoperability needed to effectively operate in the world of today and tomorrow. This enables businesses to focus on product development, instead of customer management and data security.
The Pillar Project provides tools and processes that allow businesses to integrate to the consumer Pillar Wallet. Customer account management and access to all of the consumer rights identified in the EU GDPR regulation are managed or initiated in the Pillar Wallet. Pillar’s GDPR solution provides a common interface for the consumer and eliminates development effort for your company. The Pillar Project also provides GDPR consulting services to help businesses get started with GDPR compliance, to help businesses develop a plan, and to assist the business in integrating the Pillar Wallet into their business operations.
The Pillar GDPR software solution plans to integrate the best practice processes and solutions for Identity and Access Management (IAM), User-Managed Access (UMA) and Consent Receipts.The Pillar Project is an open source, growing community that is developing and supporting these products.
About Pillar Project
The Pillar Project is a collaboration of the blockchain innovation community of 20|30. We work to get rid of old ways of thinking applied to new technology. By switching from accounts to atomic ownership in wallets, and from apps to services, each person owns his/her own assets and can control their privacy and consent. This frees businesses up to focus on product development instead of customer management and data security.
About General Data Protection Regulation (GDPR)
- http://www.eugdpr.org -- data protection act
- https://ico.org.uk/for-organisations/data-protection-reform/overview-of-the-gdpr/ -- GDPR summary
- https://www.youtube.com/watch?v=n5WJOncaHt4 -- video overview of GDPR