Facebook has not yet answered all questions regarding its planned platform own cryptocurrency Libra. International data-protection authorities have now drawn up a common list of questions, you want to the Facebook Coin from a data protection perspective to the Tooth feel. Among the signatories of the top data protection officer of the European Union, Giovanni Buttarelli.
By Christopher clover
6. August 2019BTC$11.615,00 -0.10%part Facebook Twitter LinkedIn xing mail
Facebook has not alarmed with the announcement of its crypto-currency, the Libra only to financial supervision authorities of this world. Also privacy a lot of questions for the „Facebook Coin have commissioned yet“. The Australian data protection authority, OAIC, together with the data protection authorities from the UK and other international regulators developed a questionnaire for project Libra. Has the OAIC on 6. August on its Website
informed that: As the representative of the global community of data protection authorities and law enforcement agencies that are working together for the promotion of the privacy of many millions of people around the world, we come together to Express our common concern about the risks to the privacy of expression posed by the digital currency and infrastructure of Libra.
This „We“ includes, in addition to the initiators from Australia and the United Kingdom data protection officer from the United States, Canada, Albania, and Burkina Faso. The European Union representative with their top data protection, Giovanni Buttarelli, represented.
Libra on the dissecting table
above all, the fact is the data protection Commissioner, that Facebook can be with its wide range, virtually overnight, a global Custodian for millions of people. Even in countries where data protection plays a subordinate role.
The participation of Facebook Inc. as a founding member of the Libra Association with the potential to promote the rapid acceptance by consumers around the world, including in countries which may not have data protection laws. As soon as the Libra network is in operation, it can be immediately to the administrator of the personal data of millions of people.
so Far, Facebook have not explained yet, wants to ensure it for a sufficient data protection in Libra.
so Far, Facebook and Calibra [a of Facebook, founded a subsidiary for the operation of Calibra] have given General declarations of data protection, but they have failed to deal specifically with the practices in dealing with information, which will be introduced for the protection and safeguarding of personal data.
A half-dozen questions
The international Association of privacy advocates has formulated a half-dozen questions to the Libra network.
How can the global data protection and law enforcement authorities are confident that the Libra network has solid measures for the protection of the personal data of network users?Such as will take account of the Libra network, the principles of data protection in the development of its infrastructure?The way in which the Libra, the Association will ensure that all of the data processors identified within the Libra network and their respective data protection obligations?How to plan the network, privacy impact assessments, and how the Libra will make sure network that these reviews are continually taken into account?How will ensure the network, its privacy and data protection regulations, standards and controls shall apply in all jurisdictions on a uniform basis for the activities of the Libra network?The exchange of data between members of the Libra network, relating to:
a. What data will have to be involved?
b. to what Extent is there a De-identification, and with what method?
c. How the Libra will ensure network data is not identified again, [ … ]?
Open issues off-the-data-protection
Facebook also has make, beyond the warranty of data protection is still a lot of education needed. Not only the German Finance Minister, Olaf Scholz looks in Libra is a danger for the state’s money monopoly. Also in the British Parliament similar concerns were raised. Libra convey the impression that plane Facebook to turn into a country of his own, writes about the conservative MP Damian Collins. In the US, numerous politicians have expressed concern regarding the Facebook Coins. Parts of the democratic party are flirting with the idea of a General ban on so-called „group of currencies“.
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