{"id":388778,"date":"2019-07-05T01:00:34","date_gmt":"2019-07-05T01:00:34","guid":{"rendered":"https:\/\/uniquehot.com\/?p=388778"},"modified":"2019-07-05T00:18:55","modified_gmt":"2019-07-05T00:18:55","slug":"facebook-libra-cryptocurrency-personal-privacy","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/facebook-libra-cryptocurrency-personal-privacy\/","title":{"rendered":"Social Media Outage Highlights Why Facebook Libra Cryptocurrency Puts Personal Privacy At Risk"},"content":{"rendered":"<p class=\"p1\">A massive outage on <a href=\"https:\/\/uniquehot.com\/tag\/facebook\/\">Facebook<\/a> and Instagram revealed hidden \u201ctags\u201d given to users photos on the popular social media platforms &#8211; tags that are used by the company to market to its users. It also may have revealed how their Libra cryptocurrency will become a Trojan Horse into user data.<\/p>\n<p class=\"p1\">It\u2019s to no surprise that Facebook aggregates user data and likely knows more about an individual than anyone would truly be comfortable with, but the recent issue highlights how Facebook would use transactional data of Libra usage &#8211; the company\u2019s upcoming fiat-based cryptocurrency project &#8211; to invade the privacy of their users and market to them with chilling accuracy.<\/p>\n<h2 class=\"p1\">Social Media Outage Sheds Light on Facebook Privacy Invasion<\/h2>\n<p class=\"p1\">Yesterday, <a href=\"https:\/\/www.businessinsider.com\/facebooks-photo-outage-reveals-how-ai-sees-your-photos-2019-7?r=US&amp;IR=T?utm_source=twitter&amp;utm_medium=referral&amp;utm_content=topbar&amp;utm_term=desktop&amp;referrer=twitter\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">a widespread outage impacting social media powerhouses Facebook and Instagram<\/a> plagued internet users. And while much of the chatter online was more from users complaining that they couldn\u2019t view photos of other people\u2019s food, weddings, or their friend\u2019s summer travel collage, the issue shed some light into how even the most innocent data is used by the corporation to market to its users.<\/p>\n<p class=\"p1\">The company uses artificial intelligence to skim photos and tag them with what it believes to be in the photos. It\u2019s chilling to see how accurate machine learning is able to understand visuals within photos.<\/p>\n<p style=\"text-align: center\"><em><strong>Related Reading | <a href=\"https:\/\/uniquehot.com\/2019\/07\/02\/us-consumer-groups-urge-regula\">US Consumer Groups Urge Regulators to Stop Facebook\u2019s Delve in the Crypto Space<\/a><\/strong><\/em><\/p>\n<p class=\"p1\">The company used the data it gleans from photos to make assumptions about its users it can use to offer as \u201cdemographics,\u201d\u201cinterests,\u201d or \u201cbehaviors\u201d that marketers can target. It\u2019s all about money.<\/p>\n<p class=\"p1\">But with <a href=\"https:\/\/uniquehot.com\/tag\/facebook\/\">Facebook<\/a> about to enter the arena of finance and launch their own vision of money, it really has become about money, and this latest snafu shows how the Zuckerberg-lead giant might do something similar with the transitional data of Libra usage between users.<\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-large wp-image-388780\" src=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2019\/07\/facebook-libra-cryptocurrency-shutterstock_397754680.jpg?resize=860%2C562\" alt=\"\" width=\"860\" height=\"562\"><\/p>\n<h2 class=\"p1\">Libra Cryptocurrency is Trojan Horse Into User Behavior Data Jackpot<\/h2>\n<p class=\"p1\">Facebook literally sells human behaviors to marketers. And they do this by making assumptions about its users through artificial intelligence and machine learning &#8211; two emerging technologies. But the company aims to introduce another emerging technology its users &#8211; <a href=\"https:\/\/uniquehot.com\/2019\/06\/20\/bitcoin-unfazed-by-facebook-why-further-gains-are-likely\/\">a cryptocurrency called Libra<\/a> &#8211; that will allow it to access a treasure trove of behavioral information directly through the daily spending activity of its users.<\/p>\n<p style=\"text-align: center\"><em><strong>Related Reading | <a href=\"https:\/\/uniquehot.com\/2019\/06\/19\/facebook-crypto-libra-bitcoin-investor\/\">VC Investor: Facebook\u2019s Cryptocurrency Has 50% Chance of Ever Launching, Here\u2019s Why<\/a><\/strong><\/em><\/p>\n<p class=\"p1\">Rather than making assumption, Facebook will know exactly what you are likely to buy, what you purchase regularly, and allow marketers to either take advantage of those interests, or potentially target the users as a competitor offering a similar product.<\/p>\n<p class=\"p1\">The possibilities are endless from a marketing perspective when ample user data exists. Facebook is the best at doing this, and Libra would act as a Trojan Horse into the lives of its users, allowing the company to extract as much behavioral data as humanly &#8211; or in this case, robotically &#8211; possible from its users. That is if Facebook\u2019s Libra ever makes it through all of the political red tape it is already facing.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A massive outage on Facebook and Instagram revealed hidden \u201ctags\u201d given to users photos on the popular social media platforms &#8211; tags that are used by the company to market to its users. It also may have revealed how their Libra cryptocurrency will become a Trojan Horse into user data. It\u2019s to no surprise that Facebook aggregates user data and likely knows more about an individual than anyone would truly be comfortable with, but the recent issue highlights how Facebook would use transactional data of Libra usage &#8211; the company\u2019s upcoming fiat-based cryptocurrency project &#8211; to invade the privacy of their users and market to them with chilling accuracy. Social Media Outage Sheds Light on Facebook Privacy Invasion Yesterday, a widespread outage impacting social media powerhouses Facebook and Instagram plagued internet users. And while much of the chatter online was more from users complaining that they couldn\u2019t view photos of other people\u2019s food, weddings, or their friend\u2019s summer travel collage, the issue shed some light into how even the most innocent data is used by the corporation to market to its users. The company uses artificial intelligence to skim photos and tag them with what it believes to be in the photos. It\u2019s chilling to see how accurate machine learning is able to understand visuals within photos. Related Reading | US Consumer Groups Urge Regulators to Stop Facebook\u2019s Delve in the Crypto Space The company used the data it gleans from photos to make assumptions about its users it can use to offer as \u201cdemographics,\u201d\u201cinterests,\u201d or \u201cbehaviors\u201d that marketers can target. It\u2019s all about money. But with Facebook about to enter the arena of finance and launch their own vision of money, it really has become about money, and this latest snafu shows how the Zuckerberg-lead giant might do something similar with the transitional data of Libra usage between users. Libra Cryptocurrency is Trojan Horse Into User Behavior Data Jackpot Facebook literally sells human behaviors to marketers. And they do this by making assumptions about its users through artificial intelligence and machine learning &#8211; two emerging technologies. But the company aims to introduce another emerging technology its users &#8211; a cryptocurrency called Libra &#8211; that will allow it to access a treasure trove of behavioral information directly through the daily spending activity of its users. Related Reading | VC Investor: Facebook\u2019s Cryptocurrency Has 50% Chance of Ever Launching, Here\u2019s Why Rather than making assumption, Facebook will know exactly what you are likely to buy, what you purchase regularly, and allow marketers to either take advantage of those interests, or potentially target the users as a competitor offering a similar product. The possibilities are endless from a marketing perspective when ample user data exists. Facebook is the best at doing this, and Libra would act as a Trojan Horse into the lives of its users, allowing the company to extract as much behavioral data as humanly &#8211; or in this case, robotically &#8211; possible from its users. That is if Facebook\u2019s Libra ever makes it through all of the political red tape it is already facing.<\/p>\n","protected":false},"author":517,"featured_media":388779,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[6664,1985,2037,2752,3032],"class_list":["post-388778","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-crypto","tag-facebook","tag-finance","tag-libra","tag-money"],"acf":[],"yoast_head":"\n<title>Social Media Outage Highlights Why Facebook Libra Cryptocurrency Puts Personal Privacy At Risk<\/title>\n<meta name=\"description\" content=\"Facebook and its upcoming cryptocurrency, Libra, could be a trojan horse offering the company access to a treasure trove of user behavioral data.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/uniquehot.com\/news\/facebook-libra-cryptocurrency-personal-privacy\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Social Media Outage Highlights Why Facebook Libra Cryptocurrency Puts Personal Privacy At Risk\" \/>\n<meta property=\"og:description\" content=\"Facebook and its upcoming cryptocurrency, Libra, could be a trojan horse offering the company access to a treasure trove of user behavioral data.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/uniquehot.com\/news\/facebook-libra-cryptocurrency-personal-privacy\/\" \/>\n<meta property=\"og:site_name\" content=\"NewsBTC\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/newsbtc\" \/>\n<meta property=\"article:published_time\" content=\"2019-07-05T01:00:34+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2019-07-05T00:18:55+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2019\/07\/facebook-libra-cryptocurrency-shutterstock_1428716804.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"4096\" \/>\n\t<meta property=\"og:image:height\" content=\"2304\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Tony &quot;El Toro&quot; 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The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions. In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony\u2019s expertise to guide their trading strategies. Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies. 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As the Head of Research at NewsBTC, Tony leads a team dedicated to providing cutting-edge insights and forecasts, helping both novice and experienced traders navigate the complexities of the crypto market. A seasoned Chartered Market Technician, Tony's prowess in identifying and capitalizing on market patterns is unmatched. His academic and professional journey in market analysis has firmly established him as a leading authority in technical trading strategies. Tony\u2019s approach is heavily influenced by the principles of Elliott Wave Theory, a method known for its rigorous assessment of investor psychology and price movements. Beyond his role at NewsBTC, Tony is the visionary founder of CoinChartist.io, an educational platform aimed at demystifying the nuances of cryptocurrency trading. CoinChartist.io serves as a valuable resource for traders seeking to enhance their technical analysis skills. The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions. In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony\u2019s expertise to guide their trading strategies. Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies. Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders. His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics. Tony\u2019s nickname, \"The Bull,\" aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice. In summary, Tony \"The Bull\" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. 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