As I understand, you still can use cookies and IP addresses, but you should not keep them for long time and should not give those data to Google and Facebook. Do you really need to track user across all the Internet (like Google and Facebook do) and keep that data forever, buy and sell them to data brokers? Definitely not.

I don't want data about me to be someone's asset. I want an Internet shop to delete data about me as soon as possible after I made a purchase. That's why I want GDPR in my coutry too.