Elizabeth Denham, Information Commissioner, has advised businesses to consider “alternative data transfer mechanisms” in the event of a no-deal Brexit, which might have implications on cross-border data flow.
Ian Smith, founder and CEO of Gospel Technology commented below, whose data security platform harnesses permissioned DLT to allow organisations to securely share critical data with third parties outside their perimeter of control.
Ian Smith, CEO at Gospel Technology:
Whatever the outcome of the Brexit negotiation, it’s crucial to the ongoing relationship between the UK and its European counterparts that information is able to move across borders seamlessly and securely. If the UK ends up leaving the European Union without a deal, one of the main concerns is that data flow will slow to a crawl as organisations work their way through the new security and structural implications. This could potentially take a considerable toll on business efficiency and profitability.
However, this potential issue could be addressed by the implementation of distributed data architectures. With consensus algorithms such as permissioned distributed ledger, security is embedded at a data level, without impacting the agility of data transfer. Cross-border collaboration could continue unimpeded, underpinned by a system that allows organisations to maintain visibility and control of how information is used, even when shared outside the perimeter of their control.
Commissioner Elizabeth Denham is right to call for the consideration of “alternative transfer mechanisms”. A greater focus on new data management techniques will mean the UK can enjoy the benefits of the ‘digital-first’ age without having to worry about the exposure of sensitive information, or increased friction in data flow following Brexit.