Yaroslav Bogdanov, Chairman of  Fund for Protection of Investors’ Rights in Foreign States, said that  cyber industry has no future without establishment of an international independent regulator.

He commented on the penalties to WhatsApp messenger announced by Irish Data Protection Commission. The regulator ordered the management of the application to pay 225 million euros due to the lack of transparency in the processing of personal data, Bloomberg reports.

The expert pointed out rapid digitalization of society, which national governments want to curb. This is especially observed in developed countries with a developed IT-industry.

“WhatsApp has now been fined for the ways in which they process user informartion and other information, as well as data that WhatsApp shared with other Facebook companies. But, as Edward Snowden said, where are guarantees that the functions of collecting personal data of Internet users are not monopolized by national governments? Everything is evolving exactly into this and therefore fundamental human values of privacy will be seriously damaged. Only creation of an independent digital alliance Global Digital Alliance (GDA) will guarantee observance of the freedoms and rights of ordinary people and digital companies,” Yaroslav Bogdanov said in an interview with the Information Agency “External Economic Relations”.

He noted that the work of such an organization should be based on absolute compliance with international law with the use of blockchain technology, making the functionality transparent and independent. These conditions are met by the Global Digital Alliance (GDA), Yaroslav Bogdanov is inviting all interested parties to participate in creation of this independent organization.