Facebook’s E-Money Project Faces First Obstacles - Privacy and Security Issues
Recently, Facebook revealed through its newsroom that global government requests in the first half of 2016 for personal user information increased by 27% globally, from 46,710 to 59,229 requests. The total government requests for Facebook user data are set to surpass 100,000 by the end of 2016. The sheer amount of data requests demanded by authorities suggests that Facebook’s money transmission or P2P networks are not optimal for user privacy and security. Facebook stated: “Government requests for account data increased by 27% globally compared to the last half of 2015, increasing from....
Related News
There are two big questions on everyone’s lips now: What exactly is Facebook’s Diem, and what it will offer its potential 2 billion users? The year 2021 seems to be a big year for the blockchain world as several projects, such as nonfungible tokens (NFTs) and centralized decentralized finance exchanges (CeDeFis), are taking the central stage. Also at the forefront is Facebook’s Libra.Not too long ago, the media was rife with the news that the world’s largest social media network was developing plans for a global digital currency. Then, after a while, it looked like Facebook shelved plans....
There are quite a few parallels to be drawn between the worlds of FinTech and Bitcoin, as both sectors struggle with similar issues. Especially where marketing is concerned, there is still a lot of work to be done over the coming years. But how does one go about marketing a FinTech or Bitcoin startup, other than relying on traditional solutions? Getting....
Pi Network has seen its price struggle since its launch after an initial rally pushed the price to $2.98. Its launch in February 2025 was highly anticipated and triggered its lift-off as believers who had been with the project for five years were finally rewarded. However, with the passage of time, the coin has also […]
Meta has shaken public trust when it comes to data privacy, and the wider Metaverse must temper users' concerns by learning from Meta’s mishaps. Metaverse skeptics fear the prospect of unprotected data and large-scale user surveillance on a scale never seen before. Ironically, the largest company pushing the Metaverse, Meta (previously known as Facebook), has faced its own fair share of privacy scandals in the internet’s current iteration, culminating in Mark Zuckerberg being infamously hauled before the United States Congress to answer for Facebook's inability to combat hate speech and....
Bitcoin right now is not really anonymous. While Bitcoin addresses aren't necessarily linked to real-world identities, they can be. And it’s possible to learn a lot about who’s using Bitcoin, and for what, by monitoring the unencrypted peer-to-peer network or analysis of the public blockchain, as well as through Know Your Customer (KYC) or Anti-Money Laundering (AML) regulations. This is not great from a privacy perspective. Bitcoin users might not necessarily want the world to know where they spend their money, what they earn or how much they own, while businesses may not want to leak....