What is the significance of the GDPR in cybersecurity?

The General Data Protection Regulation (GDPR) is significant in cybersecurity primarily because it enhances data protection and privacy within the European Union. Implemented in May 2018, GDPR sets stringent requirements for how organizations collect, store, and process personal data. It empowers individuals with greater control over their personal information and imposes heavy fines on organizations that fail to comply with its regulations.

The regulation mandates that businesses implement appropriate technical and organizational measures to protect personal data, thereby promoting a higher standard of cybersecurity practices. By establishing a legal framework that prioritizes data privacy, the GDPR compels organizations to adopt stronger security measures to safeguard sensitive information. Consequently, compliance with GDPR not only protects individuals' data but also fosters trust in digital services, creating a more secure environment for all stakeholders involved.

The other options do not accurately capture the core implications of the GDPR concerning cybersecurity practices. For instance, while GDPR may influence costs indirectly, its primary goal is not to reduce costs but to ensure data protection. It does not specifically regulate encryption technology or mandate firewalls; rather, it provides a broad framework under which organizations must evaluate and enhance their cybersecurity strategies for safeguarding personal data.