GDPR Privacy Shield

EU IT is losing from US Clouds while politicians are sleeping

Worldwide Cloud Marketshares in Q3 2020 are 32% by Amazon, 19% Azure and 7% Google Cloud (source: Canalys). Still there is no sound of a real replacement of the Privacy Shield, or a privacy regulation for the transatlantic data exchange, which is is a clear failure of the politicians and can only be remedied by them, “said the managing director of the SME association ZGV, Ludwig Veltmann, the Handelsblatt. His association represents the interests of around 230,000 medium-sized companies. Veltmann warned of the consequences if the supervisory authorities should now proceed with fine proceedings against companies. Almost all medium-sized companies used software products that required transatlantic data transfer or made it indispensable. “As a rule there are simply no suitable alternatives on the European market,” said Veltmann. That is why it is downright absurd if there is now speculation about sanctions for companies. “Forgoing relevant software products would simply threaten the very existence of many medium-sized companies.”