Online platforms have revolutionised access to information and played a key role in revitalising the economy by connecting buyers and sellers across bigger markets. But with increased opportunities come increased risks: cyber threats, data leaks and fraud are among the top concerns for businesses, governments and citizens, risks highlighted during the European Cyber Security Month.
For a strong digital economy to thrive, trust is key across the economy for organisations and consumers that rely on security as data flows across networks and connected systems. This is where encryption comes into play.
Encryption, which is a technology that not many people know about, is the enabler behind many services we take for granted, from banking and shopping services to medical records would not be possible without the security provided by SSL encryption.
Moreover, the General Data Protection Regulation (GDPR) coming into force in May 2018 will affect all organisations dealing with data in Europe specifically recommends the use of data encryption, and exempts organisations from penalties in the event that lost or stolen data is protected by encryption.
In its Digital Market Strategy the European Commission aims at “creating the right conditions and a level playing field for digital networks and innovative services to flourish” and “maximising the growth potential of the digital economy". These goals will only be achieved thanks to the free exchange of sensitive data, such as transactional data, health records or the private details of consumers. As the Digital Single Market continues to evolve and expand, encryption will only become more and more important.
CLARUS will contribute to the DSM by advancing cloud technology from several data-related perspectives:
- The free movement of data, location of data, access to data and ownership, which is particularly complex in the increasingly digital economy.
- Security interoperability.
- Switching Cloud Service Provider(s).
- Contracts and key insights into the General Data Protection Regulation (GDPR) through its legal expertise.