Basic Attention Token, the native token to the Brave project and the token designed to fully incentivise the consumption of fair advertising. According to reports, the CEO of Brave, Brendan Eich has written to the US Senate Committee on Commerce, Science and Transportation in order to address some of the concerns he has regarding the current privacy laws in the United States. According to BTCManager, in his letter, Eich refers to the current roll out of GDPR across Europe, a law that has been established to give citizens in Europe more control of their data. In short, GDPR is something that Eich wants to see adopted in the United States too.According to BTCManager:
“In the letter, Eich compels the US Senate to consider a European style model which allows for greater protection of the data of private citizens. He calls the GDPR a ‘great leveler’ which will enable companies like his own to compete at a high level in the marketplace.”
As it stands, GDPR means that websites and those who handle data have more responsibilities in ensuring the integrity of that data, Eich believes that such a policy in the United States will help compliment the service that Brave and Basic Attention Token provide. BTCManager further adds:
“Eich goes on to state that there is a widespread of similar standards for the commercial use of consumer data which are popping up all over the world. This includes the post-Brexit UK, Japan, India, Argentina, and the EU to name a few. He believes that having standards which are congruent with a global framework will encourage worldwide innovation and competition. His view is that if the world is genuinely entering a global marketplace, it should embrace the global standards.”
Encouraging worldwide innovation means that Eich believes a similar approach from the US will give startups more opportunity to develop projects such as the one that the team at Brave have developed. Will this latter make a difference?Eich does speak with good authority and indeed, the relevant authorities are likely to listen to his points. Overall, the United States could well adopt a similar approach to GDPR although let’s face it, it’s unlikely that a letter from the CEO of Brave is enough to actually encourage this change to be made. Hopefully though, through the letter, Eich is bringing the issue of data protection and privacy in the United States to the fore. If it does, we thank Eich for his efforts and know that BAT is certainly going to benefit from it.ReferencesBTCManager
Robert first came across Bitcoin in 2016 during a meetup in Belgium, and has been hooked ever since. With a background in Economics, you can find Robert frequently looking at the Twitter feed of the SEC for any regulatory updates relating to Bitcoin and Crypto in general.