April 2nd, 2018 at 12:06 pm UTC · 3 min read
U.S. regulators confirmed that they are investigating Facebook to see whether or not the company’s data collection practices harm the people who use company’s services.
The major social media platform faced backlash earlier this week amid reports that Cambridge Analytica, a consultant firm affiliated with Trump,collected data from 50 million Facebook’s users without their consent, including information they gathered from psychological quiz apps. Now concerns about the company’s privacy policy have reached new highs.
Mark Zuckerberg admitted last Friday that Cambridge Analytica used data they collected from Facebook users. Allegedly, Cambridge Analytica purchased data from a researcher who had been given permission by Facebook to collect data for academic purposes. However, the social media giant has since suspended Cambridge Analtyica access to Facebook.
Meanwhile, there are ongoing questions about Facebook’s practice of collecting contact names, telephone numbers, and text messages from Android devices, a practice they have used for years now. Facebook claims that the data they collect is used “to improve people’s experience across Facebook.” Ultimately, the privacy concerns that arise make the user experience worse, not better.
Although Zuckerberg has said Facebook is committed to fixing their privacy issues, they have a lot of obstacles to overcome before they can accomplish this goal.
There are so many apps on Facebook that singling out which ones are problematic will not be easy. And companies and investors are taking notice. Since Friday, Facebook’s market value dropped 8%. Meanwhile Modzilla, Sonos, Pep Boys, Tesla, and Commerzbank have all halted their advertising campaigns on Facebook.
Some of these companies and institutions have also pulled ads off Google and Twitter. There is growing apprehensiveness that all the major social media platforms lack adequate privacy features.
Invacio is actively working to address these privacy and security concerns. The tech startup is using multi-agent system artificial intelligence and end-to-end encrypted communications technologies to solve real world problems related to social media, finance, and security.
InvMail is a service that will provide consumers with email, video chat and voice messaging that is completely private. Powered by a zero knowledge server, no record of communications is retained. This also allows businesses and governments the opportunity for the secure transfer of sensitive information and data. The advance technology is the equivalent of having a face-to-face conversation inside a locked bank vault, except it’s a lot more convenient.
Invacio’s data-related technology also has a lot of utility for businesses and consumers alike. Their technology has the ability to provide businesses with real time feedback. Companies can learn about specific mentions of their company on social media and news forums almost instantaneously, while consumers can learn what people around the world are saying about a product before they make a purchase. This can all be done through a secure and private network.
The Invacio Network provides a suite of interfaces that allow users access to a reservoir of information that can be used for AI driven market analysis, stock market tracking, itinerary planning, and more. While Facebook’s privacy policy clearly hurts consumers, Invacio’s network has indisputable benefits to both companies and consumers.