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In the worst-case scenario, a data embassy could enable government to provide its digital services without the national territory under its control. [1] This makes data embassies particularly attractive to countries that have already digitalized their most crucial databases and are situated in the vicinity of the aforementioned threat vectors.
The GDPR also effectively replaced the 1995 European Data Protection Directive [29] that had originally established the free movement of personal data between member state borders, and in doing so granted interoperability of such data among nearly thirty countries.
Data sovereignty is the ability of a legal person or an organisation to control the conditions that data is shared under, and how that shared data is used, as if it were an economic asset. [ 1 ] [ 2 ] It can apply to both primary data and secondary data derived from data, or metadata . [ 3 ]
Banking secrecy, [1] [2] alternatively known as financial privacy, banking discretion, or bank safety, [3] [4] is a conditional agreement between a bank and its clients that all foregoing activities remain secure, confidential, and private.
Over 80 countries and independent territories, including nearly every country in Europe and many in Latin America and the Caribbean, Asia, and Africa, have now adopted comprehensive data protection laws. [1] The European Union has the General Data Protection Regulation (GDPR), [2] in force since May 25, 2018.
On the European level, it is the G29 and the European Data Protection Supervisor (EDPS). The process was backed in 2005 by the Council of Europe, during the World Summit on the Information Society (Tunis, November 2005), and in 2006/2007 within forums on Internet governance (Athens 2006, Rio 2007).
The right of access, also referred to as right to access and (data) subject access, is one of the most fundamental rights in data protection laws around the world. For instance, the United States, Singapore, Brazil, and countries in Europe have all developed laws that regulate access to personal data as privacy protection.
A sovereign wealth fund (SWF) is a fund owned by a state (or a political subdivision of a federal state) composed of financial assets such as stocks, bonds, property or other financial instruments. Sovereign wealth funds are entities that manage the national savings for the purposes of investment.