According to a new White House report on consumer data privacy protection, trust is worth a lot of money to U.S. businessesusers have to know that their data will be protected if the economic engine of digital innovation is to keep roaring. Ergo, the United States needs a privacy framework that’s “flexible” enough to accommodate innovation, and comprehensive enough that consumers will feel safeand keep clicking.
But trust between consumers and companies in the U.S. is only part of the equation. There’s another important element: how compatible U.S. safeguards are with those of the rest of the world, particularly Europe. This new proposal arrives a month ahead of a conference on data protection between E.U. and U.S. officials in Washington, D.C., leading to questions about whether Europe and the U.S. are any closer to getting on the same page when it comes to data privacy.
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