The head of the blockchain division of Facebook, David Marcus, in his letter to the House of Representatives Financial Services Committee assured the congressmen that the company would make every effort to ensure the security of personal data of users preparing to launch the Libra project. It is reported by The Hill .
In particular, Marcus said he was ready to provide personal guarantees that, in order “to do everything right,” Facebook will spend as much time as it takes.
He also insists that personal data of users will not be tied to transactions in the Libra blockchain.
“Just like in well-known cryptocurrencies like Ethereum and Bitcoin, Libra’s blockchain transactions will remain“ pseudonymous ”, which means that users’ personal information will not be available to the public, ”Marcus wrote.
According to him, data on addresses, timestamps and transaction amounts will be public, but user data will be stored by purse providers, which can be third-party developers. They will be responsible for the information collected and compliance with legal requirements.
Also, David Marcus confirmed that Facebook Payments, Inc. is a division. has “non-public personal financial information” of users, but never uses it for promotional purposes. Libra associations, says Marcus, will have less data available than Facebook Payments currently has, for example.
Earlier, in July, several more members of Congress joined the request of the head of the US House of Representatives Financial Services Committee Maxim Waters to suspend the development of Libra digital currency.
In particular, an open letter to Facebook with a corresponding request, was immediately signed by five lawmakers. In it, they addressed the head of the company, Mark Zuckerberg, the operating director, Sheryl Sandberg, and the head of the blockchain division, David Markus, with a proposal to impose a moratorium on the development of Libra.
Follow BlockchainJournal on Twitter !
BlockchainJournal.news
BlockchainJournal.news
