ShareRoot Ltd (ASX:SRO) welcomes the European Union’s General Data Protection Regulation (GDPR) which goes into effect today.
The GDPR will apply to the data of European citizens that is held by companies all over the world.
These companies could face fines of up to 4% of their global annual revenue if they are found to be non-compliant with the GDPR.
MediaConsent helps companies be GDPR compliant
MediaConsent is ShareRoot’s solution for companies aiming to be GDPR compliant with their digital marketing efforts and to allow consumers to control how they’re being tracked and marketed to online.
MediaConsent’s technology ensures GDPR compliance by giving consumers the power and control over what data points companies collect and store on them.
READ: ShareRoot appoints top customer data privacy experts as advisors
ShareRoot CEO in the spotlight
ShareRoot’s CEO Noah Abelson-Gertler has been highly sought after for comment as data breaches and privacy scandals continue to make news headlines.
With the recent issues arising from data mining and data breaches from social media platforms like Facebook (NASDAQ:FB), concerns are growing around the use and potential abuse of customer and individual’s data and privacy.
The recent period of intensified regulatory reform in the consumer data protection space positions ShareRoot very well.
Full commercial launch of MediaConsent later this year
ShareRoot anticipates a full commercial launch of MediaConsent commencing later this year with related revenues soon after.
Updates expected over the near term include:
• End of June quarter: Launch of MediaConsent’s Beta program including to global advisors;
• September quarter: Launch of MediaConsent’s Pilot program; and
• Middle of December quarter: Launch of MediaConsent’s Commercial Rollout of the platform.
Both the Beta and Pilot programs are focused on bringing aboard quality businesses and organisations who are interested in solutions to comply with the GDPR.