More than 700 companies, including tech stalwarts like Google and Dropbox have committed to the overseas transfer of personal data under the landmark U.S.-European Union Privacy Shield mechanism, a senior U.S. Department of Commerce official said. Leading tech companies have been steadily flocking to the revised deal, with Google and Dropbox now lining up alongside Microsoft, Salesforce, and many others.
More than 4,000 multinationals that had long relied on the popular safe harbor mechanism to transfer data from the EU to the U.S. have been in limbo since October, when the European Court of Justice invalidated the pact due to concerns about the scheme’s ability to adequately protect the privacy rights of EU citizens.
Since the Privacy Shield gained final approval from EU leaders in July, doubts have been raised about how widespread the buyin would be from multinationals. While officials have set up an incentivethat allows companies that sign up within the first two months of the pact’s existence to take advantage of a transitional grace period that will give them nine months to get their contracts in order, attorneys have predicted that some companies may be turned off by what many view as the inevitability that the deal will soon face a court challenge similar to the one that resulted in the safe harbor’s demise.
So what is Privacy Shield benefiting to the average internet user except promise that they will sell their data safely. Who is running force behind this deal we shall find out from short dissect of this obnoxious strategy.
So let’s analyze this :
Companies in the EU that are operating online or in the field of e-commerce are obligated to pay annual fee to this website www.privacyshield.gov. That fee is determined by next variables :
The strangest thing about this that website of Privacy Shield hosted and connected directly to the Salesforce.com. For the people who don’t know this company they are CRM solution.
So this means all fees from opt-in in Privacy Shield program are deposited to Salesforce CRM system and if we take a look on stock price of this company before Privacy Shied we can see why US offered this solution to EU and not vice versa. After they pushed this resolution into the EU parliament we can see how stock value gained extreme boost after 31.december
Every user of internet from Netherlands represents single customer in Salesforce CRM and if we go and take a rough estimation calculated by Salesforce value calculator we get next astonishing number. This deal wil reflected increase of stock price of Salesforce directly. Conclusion : This is how EU sold our privacy and data to our netlords, giving us no option to vote or choose. We are only allowed to opt-in deeper into the abyss of Big Data. This is the reason why our privacy has become such big concern and actual reason why recently trending arround privacy has been raising. One thing is sure we can stop using these services online and look for alternatives if there are any left.
Source: Privacy Online