"data has become an increasingly important asset for many companies around the world. The possibility to let data flow easily across borders helps many organisations in their business processes. Think about it: many companies have employees in multiple countries, but only one central HR department that would need access to the contact details of the employees, as well as their financial information to ensure salary payment. And think about customers: especially in these times of Corona, many European companies have turned to American service providers, from conferencing services to file storage and sharing services, that also involve the processing of personal data (contact details, IP addresses, etc.). And then of course there are the companies who have made data into their core business, from the online advertising industry to social networks. In short, without international data flows, the (online) economy will have a hard time to function properly."