Despite Big Technology Innovations, Many Users Are Still Unwilling to Trust Facebook with Personal Data
- Facebook and Uber have the least number of professionals who trust it.
- The survey regarding trust in these tech companies was researched by an app called Blind.
It is Big Tech’s moment in the financial world right now. Between the Google Pay processes that link consumers’ checking accounts and the Libra project, the decision to infiltrate the financial world with major tech is no hidden secret. However, as innovative as these options may be, professionals in the tech and finance industries are seemingly hesitant to take advantage.
A recent survey by Blind, an “anonymous social network” app, polled over 5,000 individuals in professional positions with Apple, Amazon, Facebook, Google, and Uber, among other companies. Of these individuals, about 62% would prefer to trust “traditional banks,” rather than “big tech” companies, with their personal financial information. Banks were trusted over large tech companies by 57% of tech professionals and 70% of finance professionals.
It is worth noting that Apple was the most trusted “big tech” company with 44.45% professionals being willing to share their financial data with the brand more than any other. The second-highest vote was Google, followed by Amazon. Both Facebook and Uber were only the “most trusted tech company” amongst about 2% of the voting professionals, each.
While those numbers may only be slightly surprising, considering the respective industries, the more shocking fact is that there is a substantial number of employees in the tech sector that don’t trust their own companies to protect their financial information. The survey spoke with 186 Facebook employees in their study, finding that just 21% (about 39 people) said that they were willing to trust their data to their employer’s platform. Uber’s numbers were even lower, showing that 16% of the 45 Uber employees (about 7 employees) felt the same.
Mark Zuckerberg, the CEO of Facebook, as well as David Marcus of the blockchain division of the company, have been involved with Congress over questions concerning Libra and its security. Congress has been fixated on the potential that this project has to promote white-collar crimes, like money laundering, but it also could pose a risk to privacy concerns. Speaking with Decrypt, Blind’s brand marketing manager Cuire Kim clarified that the survey did not specifically address the employees’ feelings on Libra.
The full blog from Blind can be viewed at www.teamblind.com/blog/