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Thursday, March 23, 2023

Metaverse: is Facebook’s data management problematic?

Facebook has had its share of scandals in the past. In particular on its way of managing personal data and even reselling it to third-party companies . More recently, with the takeover of WhatsApp, more ink has been spilled on this subject, which is both complex and crucial to maintaining the trust of its users.

Today, while Meta, led by Marc Zuckerberg, does not hide the idea of ​​revolutionizing the web with the metaverse, probably by also integrating crypto-currencies. We are entitled to ask ourselves how will personal data be processed? Indeed, the crypto community has always wanted to be transparent and open unlike a company like Meta.

Meta changes its privacy policy

Meta recently changed its privacy policy , mainly stating that it will not collect user data in any new ways. At first glance, this may seem suspicious. Nevertheless, Meta indicated that these modifications have occurred to make the reading of the text more comprehensible. The same to adapt more generally to all the products they offer.

The company went further by recalling that it does not sell the personal data of its users . Similarly, it collected, shared or used this data differently following the update of its privacy policy.

Simplified sentences and especially examples added to bring more clarity, here is what this update essentially brings. This isn’t the first time Meta has tried to simplify its privacy policy.

However, according to The Verge, these changes stand out as “the worst or the best” compared to previous versions. Indeed, it is stipulated that the data is not shared for example and on paper it is perfect. On the other hand, Facebook already uses the sharing of its users’ data in order to target them with advertising. So what does it mean to “not share data”?

BSV Blockchain Chairman Addresses Meta

Even engineers at Facebook aren’t sure how to handle user data with optimal security. Employees have sometimes denounced the database as borderline acceptable in the past .

It is in this sense that recently the president of the BSV blockchain, Jimmy Nguyen, spoke to Meta. He thus hopes that the company will not store user data in the future, especially in the context of the metaverse , on its own servers, but on a public blockchain.

The world of crypto wants to be interoperable and above all transparent, so it seems logical that this data should be stored via a neutral organization and not a private company. With this method, Meta could thus become an interface connecting the various Metaverse applications to this public blockchain . Accessing user data (with their permission of course) would also be easier.

In addition, the president of BSV also specified that such operation would require a blockchain capable of adapting. It should also have the potential to handle a large number of transactions . It is logical that he thus designates his own BSV blockchain, which is quite capable of offering such capacities.

The metaverse is upon us, even though the concept is still relatively vague for some. The crypto industry will likely be closely tied to it. More than the current networks and social media, this new technology will have the potential to house a large part of our lives .

Protecting this data properly is vital. In the same way, a viable solution without a private entity being able to afford to exploit this content must be found. The future of the metaverse also rests on trust . Trust that he must be able to establish in front of the public in order to allow its adoption by the greatest number.

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