July 22, 2021 A meeting I heard on Tuesday that data localization legislation in countries around the world would hinder the future of data-intensive high-tech business and innovation.
Data localization legislation restricts the storage and movement of data within national borders, a global expert at the Information Technology and Innovation Foundation (ITIF) event on Tuesday said this would endanger future businesses.
According to Cory, data localization reduces access and security to the Internet, increases costs, and reduces complexity and innovation. The value of data lies in its usage, not its storage location.
These restrictions can include barriers to the information that people can see on the Internet. This is primarily what major tech companies such as Google and other social media companies need to stay in business.
Over the last few decades, especially during the pandemic, countries around the world have begun to embrace digital transformation.
In a new report on global data localization barriers, panelist Nigel Cory, Associate Director of Trade Policy at ITIF, explained that the number of effective data localization policies has more than doubled in the last four years.
According to ITIF data, 35 countries implemented 67 barriers in 2017. Currently, there are 62 countries involved in 144 barriers, and dozens more are under consideration.
Need a new legal framework to embrace global tech companies
Based on these statistics, panelists urged policy makers around the world to develop new frameworks that better respond to the growing world’s technological economy by removing unnecessary and time-consuming barriers.
Of the many lessons learned during the pandemic, one of the clearest is that digital technology, data and the Internet are essential to the functioning of the global economy, CEO of the Washington, DC-based Information Technology Industry Council. Says Jason Oxman. ..
According to Oxman, one-third of small businesses would not have survived a pandemic without access to digital tools. More than 60% of companies say technology has helped them overcome export barriers to their products and services.
Some governments are developing digital policy approaches that impact the global innovation ecosystem and limit the capabilities of companies, workers and consumers to deploy and use digital products and services across national borders. I heard the meeting.
Oxman said these are essential elements to ensure that the global economy works, while at the same time ensuring that information is safe and secure for all users of digital services. increase.
While countries need to create clearly robust data privacy and government frameworks that protect consumers and address national security concerns, policy makers are a transparent and targeted way. Must be created in.
The United States takes the position that data localization is a threat to American companies and considers it part of trade negotiations in treaties such as the Japan-US Trade Agreement, the Trans-Pacific Partnership, and the United States. The Mexico-Canada Agreement, which renegotiated and renewed NAFTA.
According to the United States International Trade Commission, protection from localization legislation is essential for US carriers seeking to manage their data processing and network management capabilities from a centralized location.
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