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GDPR

GDPR

The GDPR (general data protection regulation) was introduced by the EU parliament in April 2016 after four years of preparation. The regulation replaces its predecessor – the Data Protection Directive – in the hope that it can coordinate data privacy all over Europe. The fundamental aim of the GDPR is to protect EU citizens from data breaches by controlling private data processing across the EU. Thus, the new regulation forces firms to rethink the way in which they approach data privacy. Failure to comply with the GDPR can lead to a fine of up to 4% of global annual turnover.

Facebook have recently received much scrutiny due to the fact that they are refusing to promise a GDPR-style privacy for US users. Facebook have already implemented changes to the way in which they handle data – following the Cambridge Analytica files – but Mark Zuckerberg has refused to commit to the GDPR becoming the criterion for social media platforms worldwide. It seems, from his comments, that American users will be presented with weaker data regulations in comparison to European users. Certain sources seem to agree with this view, whereas others seem to suggest that Zuckerberg shall GDPR privacy standards everywhere. Only time will tell whether or not Zuckerberg is implementing GDPR privacy controls worldwide. Until then we must wait.

 

Citizenship By Investment

Citizenship By Investment

The main grounds for obtaining citizenship are birth within the requisite territory, descent from a citizen parent, marriage to a citizen and naturalization. The first three are rather self-explanatory, however the definition of naturalization is unclear; it is the legal process by which a non-citizen acquires their citizenship. However, there is now an alternative method of acquiring citizenship and it is called citizenship-by-investment. Essentially, it is a program that offers one the opportunity to legally (and quickly) secure citizenship by investing in the interests of a Nation State. Sources suggest that there are currently only seven nations that offer a  citizenship-by-investment scheme. One of these nations is Cyprus.

Aristo developers are a well-known property development company in Cyprus who offer/support the citizenship-by-investment program. They currently have 250 offers island wide, as well as 50 new projects that are entering the market. The scheme in Cyprus requires investors to buy property worth €2 million in order to gain citizenship. Moreover, there are many benefits to such a system. For example, it does not require residency (one must merely visit Cyprus once every seven years). Furthermore, it allows one to acquire voting rights and to pass on citizenship to future generations since it is valid for life. In sum, the citizenship-by-investment scheme seems to be a hassle-free method of acquiring citizenship in another country.

VR – Virtual Reality

VR – Virtual Reality

Virtual reality, known to most as VR, has really taken the technological world by storm over the past few years. Most of us would have seen it used by gaming or entertainment companies to well and truly ‘bring things to life’. The common image that springs to mind is a user who is immersed in the world of the dinosaurs, with a few pterodactyls to his left and a triceratops to his right. However, firms are now looking for more innovative ways to integrate VR into the work that they do, in order to generate more commercial activity. We at NXT Generation Marketing are doing just that.

We currently offer VR opportunities for clients in the areas of property investment, luxury vehicle testing and art exhibition sampling (just to name a few). For example, a client with a busy schedule may wish to view a property and they can do just that in a matter of minutes. All they must do is put on the VR headset and they can ‘roam’ around the property, without having the hassle of travelling and locating the premises. The same can apply to art viewing or car testing; one must merely put the device on their head and the rest is rather straightforward. These are just a few of the applications of virtual reality in the marketing world. It will be interesting to see what the future holds, in particular, it will be fascinating to see the next step that VR will take in the world of commerce.

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