Final answer:
Modernization of Convention 108 refers to the ongoing process of updating the Council of Europe's Convention 108 to meet the challenges of technological advancements and globalization, aiming to enhance personal data protection and support international cooperation in privacy regulation.
Step-by-step explanation:
The modernization of Convention 108 in 2011 aimed to adapt its provisions to the new privacy challenges arising from technological developments and globalization. While there is no specific "Modernization of Convention 108" that took place in 2011, there are ongoing discussions and updates to amend and strengthen the original Convention for the Protection of Individuals with regard to Automatic Processing of Personal Data, also known as Convention 108, which was opened by the Council of Europe in 1981.
The modernization process seeks to ensure that the convention remains the cornerstone of data protection and privacy regulation in the face of globalization and the evolving digital landscape. By updating the convention, it enables better protection of personal data while facilitating international cooperation. This is particularly pertinent given the growing concerns over federal spending and the need for fiscal responsibility in policy-making, as a modernized framework could play a part in addressing governmental transparency and the utilization of data in fiscal policies.