The European Union is on the verge to overhaul the regional technology policy and major companies which are tentatively behaving a bit nervous about granting new rules. The concern is highly evident in the open letter which is offered by the European Tech Alliance (EUTA), a giant group representing Europe’s largest technology players along with Booking.com, Criteo, FacilityLive, Spotify, Zalando, Allegro, King, and Meetic.
The open letter states to ensure that there is a specific level field for playing which results in third countries’ technology rivals taking place is hardly gaining any advantages over European Union’s competitors by flouting local laws. The EUTA is currently focusing on making policies to learn proportionate legislation. This would result to nurture innovations and raise maximum investments in the research and development department.
The letter also concludes that Europe is preparing and effort working on creating one of the most comprehensive changes in digital legislation. Ursula Von der Leyen, President in December last year, is a position to introduce the 20-year-old eCommerce Directive updates, and also create Digital Services Act.
Referring to the key features of the Digital Services Act, soon there will be legal powers to be on board to ensure digital service removes hate speech, newly created rules on political advertising, and illegal content. To date, legislators have almost favored issue-specific legislation in terms of copyright infringement and terrorist content. The European Tech Alliance is now trying harder to push the DSA to smaller companies with several different business models and a few resources for their comfort.
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Understanding a level playing field, this strategy was against any competition that is not based in Europe. This has proven a lengthy process that is actually difficult to control. Despite premium profile rulings in the EU’s Court of Justice surrounding platform regulation, data transfer, and digital tax disputes, The European Union is facing crucial challenges in regulating digital issues.
Talking about the current situation, the European Commission is devotedly focusing on the future and the Digital Age. Ursula Von der Leyen has been offered to the baton from the Juncker Commission for the final push towards a European Digital Single Market. The global digital single market is considered as one of the European Union’s potential projects. Europe’s efforts towards addressing the challenges and raising a word of digitalization have already initiated with a cause of the ripple effect. The advantage of moving first on digital regulation has resulted in the EU a lodestar for policymakers across the globe.
While Europe is trying hard to look beyond the boundaries in the global markets, it should be remembered that the EU itself has a vibrant tech ecosystem at home. The digital innovators born bred in Europe, the startups, the champions, and the scaleups is advocating for tech legislation that usually works for everyone: business, consumers, employers, investors.
The majority of European tech companies are new and look pretty young. The market needs smart regulation which can create a vibrant Digital Single Market and not put future champions at any negative circumstances when competing on the local level.