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"Facebook is enforcing a strict separation between users’ social data—their Facebook likes, photos, etc—and the financial data that will be available on Libra’s
by dx7tnt 7y ago
"Facebook is enforcing a strict separation between users’ social data—their Facebook likes, photos, etc—and the financial data that will be available on Libra’s network. There will not, he insisted, be a readily available data trove connecting users’ transactional data to their Facebook profiles"
I find this extremely hard to believe coming from a company who's entire M.O. is building a profile of its users and tracking everything they do across the internet and beyond.
- ihm 7y agoI believe them that it won’t be readily available :) That is, I’m sure Facebook will create link all that data together to improve their surveillance but not let others readily access it. Of course advertisers will still access it indirectly by using it to target their ads.
- _bxg1 7y agoYeah; it's been a long time since people trusted their pinky-promises. They've broken them over and over.
- mrweasel 7y agoFacebook seems awfully quiet about WHY they're developing this thing. There's a lot of fancy and positive spin on "helping people in countries without access to banking" and that fine, but they do need to explain how they plan to turn a profit on the project. Until they do, we should assume that it WILL involve selling/exploiting the financial data of the users.