January 26, 2024 – Paris, France
For Data Privacy Day 2024, Binance is excited to announce the launch of its new Binance privacy portal, designed to empower users to take ownership of the personal data they share with the platform.
In today’s digital world, data is king. It is an asset of tremendous influence and immense value, driving nearly every function of our hyper-connected, data-fueled global economy.
As mathematician Clive Humby’s popular adage goes, “Data is the new oil.” Like oil, data holds little value in its raw form but becomes priceless in the right hands. It is how we process data that unlocks its true power.
However, the flip side of data’s potential is that it can be vulnerable to mismanagement and misuse.
As such, data privacy and protection have become central to the digital realm today, influencing areas from regulation to consumer trust.
Robust data protection is essential for upholding human rights and liberties in the digital era.
To celebrate Data Privacy Day 2024, a global occasion observed annually on January 28, Binance is excited to announce the launch of its Binance privacy portal.
Here, users can find the company’s privacy principles, learn how Binance uses their data, exercise their privacy rights and contact Binance’s data protection team.
Rather than simply meeting compliance requirements, Binance aims to empower its users to take ownership of the personal data they share with the platform.
The history of data privacy
In 1981, the Council of Europe signed the Convention for the Protection of Individuals with regard to Automatic Processing of Personal Data (Convention 108), marking the first legally binding international agreement to protect personal data.
Another key development came in 1995 with the EU’s Data Protection Directive.
Championing individual controls, the directive asserted that personal data could only be consented to processing with the explicit permission of the individual concerned.
The rapid technological advancements of the 21st century necessitated an even stauncher stance on data protection.
In 2016, the EU passed its GDPR (General Data Protection Regulation), representing a significant shift in legislation.
Replacing the 1995 directive, this regulation bolstered the data privacy rights of citizens and reformed how organizations use this data.
The GDPR has since become the gold standard for legal frameworks in data protection, and it continues to influence data…
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