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What a week it has been. England have won the Cricket World Cup, and both Marriott and British Airways have been hit for six by the ICO. It’s fair to say that both the England team and the ICO have upped their game.
A year ago, the Governor of California signed the California Consumer Privacy Act of 2018 into law. Known as the first comprehensive privacy regime in the United States, the Act imposes on businesses significant privacy obligations, creates a number of privacy rights, and provides for enforcement both through private right of action and regulatory enforcement.
According to published definitions, bitcoin is an "electronic currency", "a cryptocurrency", "an innovative payment network and new class of money". In this article, we analyse the first judgement of the Spanish Supreme Court which considers the problem and denies bitcoins character as legal tender.
The ICO has threatened British Airways with a record £183.4 million fine under the GDPR, following a well-publicised Magecart attack last year.
In ancient times, we bowed to oracles that interpreted the rustling of oak-leaves, the flights of birds or the murmuring of the waters from a sacred spring. Nowadays, corporations resort to the latest state-of-the-art techniques of ‘data science’.
Over the past five years Latin America has seen a rise in the prevalence of cyber risk. Cyber attacks have become increasingly common, with financial institutions the main target, particularly via social engineering; the manipulation of employees into breaking security procedures to gain access to systems or networks.
The hardening of the insurance markets may have reduced the appetite for certain emerging risks but the increasing prevalence of so-called digital assets, including cryptocurrencies and initial coin offerings, will be hard for insurers to ignore.
For most of us 2017 was the year when we first heard the word “blockchain”. That year also saw the value of bitcoin grow 1,300 percent and increasing interest in “digital assets” such as cryptocurrency and initial coin offerings (ICO) using blockchain technologies.
In our article of March 2018 we considered whether regulation of cryptocurrencies was on the horizon. The creation of a UK Cryptoassets Taskforce has brought this horizon closer into view, but this space remains unregulated in the UK - with some limited exceptions.
In October 2018, the Secretary of State for Health and Social Care, Matt Hancock, outlined his vision for the future of healthcare through a digital patient journey, in order to provide better patient care, improve efficiency and reduce operational costs. The plans encompass a digital process for the patient from pre-diagnosis to discharge.