What is Data Localisation? Why is Facebook Threatening to Exit Europe? |
Posted: February 21, 2022 |
Facebook Without Borders!? Accelerating customer churn, subpar quarterly numbers and serious doubts about Facebook’s metaverse pivot aren’t the only things currently ailing Mark Zuckerberg’s mind. Recently, Meta Platforms made a brow-raising claim in its annual report: If European regulators move to restrict the transfer of European users’ data across the Atlantic to Menlo Park, Meta would “likely be unable to offer…Facebook and Instagram in Europe”. The point of contention was the European Union’s ongoing overhaul of legislation governing cross-border data flows. For its part, Facebook fears that barriers to accessing user data impinges on its most critical avenue for revenue-generation - targeted ads. That said, it is highly unlikely that Meta will actually exit a market as large and lucrative as Europe. However, this episode does shed light on one of the most divisive areas of the evolving international digital law scene - that of data localisation. Click link for a deep-dive: https://transfin.in/what-is-data-localisation-why-is-facebook-threatening-to-exit-europe
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