ICONLOOP Thinks About The Future – Addressing Data Laws

ICONLOOP, the company behind the project ICON has been gaining a lot of popularity due to various achievements and their bold plans as well.

The team is really focused on giving users full control over their personal data.

It’s worth noting that at the beginning of this year, South Korea’s parliament passed amendments to three data-related laws, according to the online publication The Icon.ist.

Data-related laws

These are the following: “the Personal Information Protection Act, the Act on the Promotion of the Use of the Information Network and Information Protection, and the Credit Information Use and Protection Act.”

The government views these revisions as vital to transforming South Korea into a “data economy” and a global powerhouse in data use, despite all the concerns that are voiced by privacy activists.

Yonhap News reported the following as quoted by the online publication that we mentioned above:

“The three bills related to data are intended to enable the use of personal information offered under alias and processed technologically to conceal the provider’s identity, without the user’s consent, for compiling statistics and industrial research purposes.”

It’s been also revealed that financial authorities, fintech companies and other financial institutions believe the revisions will be boosting the development of MyData projects by granting individuals ownership over their data.

Check out the original article in order to find out more details about the issue.

The importance of digital financial services

We’re currently in the non-face-to-face era, and it’s important to know that your digital financial services are safe.

ICONLOOP has been working really hard to boost the safety of digital financial services during these days in which privacy and data safety are vital.

In other news, the other day, it’s been revealed that ICONLOOP steps up in the fight against the coronavirus.

The blockchain company recently revealed that it plans to support for free the VisitMe visitor management solution until the end of the pandemic.


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Andreas Townsend Author

I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.

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