Hmm ... maybe I got you wrong, but it's not YOU to accept the service, but the friends on your list to be 'served' this way.

Let's say we are already private friends, I'm part of your gmail address book, but you're not sure whether I'm a member of your community or not. And you want the component to automatically suggest me if I'm not.

That said, the component needs a way to find out whether I'm already a Ossn member or not. And in order to do so the component needs to import your gmail address book to compare the gmail addresses with the Ossn addresses. Right here's the point (to be compliant with new rules) when you had to ask me (and all others in your gmail list) whether we are willing to pass our addresses or not.
Thus instead of asking me to pass my data for comparison in advance - why not simply asking me to be a member of your community? :)

~Z~Man I understand your concern of what the strict rules of the new European General Data Protection Regulation says, but our users freely give us their personal information when signing up, they already know how Social Networking platforms work, and we should try to make it an easy experience for our users and their friends to join our networks and connect with eachother with ease. I want to suggest that the component when created and uploaded will show as a pop up message when the user logs in explaining that the site would like to be more efficient in connecting them with their friends and would need access to their email contacts to make a connection, The user will have the option of clicking accept or decline for this service, i am sure that this should satisfy General Data Protection Regulations if we properly explain why and give the user the option to opt in or out.

Personally, and having the strict rules of the new European General Data Protection Regulation in mind, I can't make friends with an idea like that. As this would mean you'll need an explicite agreement of every address book member to manage and store their data in a 3rd party community BEFORE exporting your list.
Aside from that, the method is not foolproof because your friends may have registered to Ossn with a nickname or a different address.

Facebook and other services do this by essentially importing your address book from gmail or some other provider (which is why you need to authorize from your google account to do this). interesting idea, probably wouldn't be that hard to implement.