In theory, the act is passed by European Union and applies to only European citizens. The global nature of the internet means that GDPR affects people all around the globe. Firstly, GDPR sets a higher bar of security on how tech companies gather the users’ data. The companies will need an explicit and informed consent from their users to gather their data.
Secondly, GDPR’s penalties for breaking any of the rules are severe. Fines range as much as 4 percent of the companies global turnover or $20 million, whichever is the greater.
The initiative had been taken after Facebook’s giant data scandal. In fact, tech giants like Google and Facebook are already facing lawsuits as much as $8.8 billion on the first day of GDPR itself.
As a user, you’ll be signing a lot of new Privacy Policies before you can continue to use your favorite services and apps. But the question here is will GDPR make online data collection less creepy? In theory, yes it will. But it is too early to comments on its practical aspects.