Sarthak Dutt & Anant Agarwal, ICFAI Law School Hyderabad
ABSTRACT
Earlier, oil was the most essential fossil fuel of all time. Arab countries were the richest of all nations due to the ample amount of petroleum with them. Now, the scenario has changed in this technology-driven society and the world is shrinking since the internet penetrated. Data has become the most valuable asset which no one can ever imagine in humankind and therefore, it is now the new oil of the 21st century. Big tech firms are earning huge because they have access to our personal data which has bought forth a new revolution of Techno-Feudalism.
These tech giants are creating a monopoly over the internet market and using our data, which has increased their power significantly to a great extent. Since data and its privacy has become a new issue, countries across the world are making regulations to take control of its proper usage.
This article aims at bringing forth the complexities related to data privacy and protection laws in different parts of the world. It shows a study of different laws and legislations that exist to tackle data breaches and talks about the importance of data protection and data privacy.
Keywords: data protection, data privacy, data theft, cyber laws
