Will Blockchain Be a Catalyst for Facebook as Investors Await Details About Company’s Privacy Plans
Facebook has reported its earnings on Wednesday. Investors placed their focus on privacy, expecting the company to provide more information about its plans for the future in this area. This is very important because the number of users and the revenue registered by the company continue to increase.
Will Facebook Make A Shift On Privacy?
According to the CEO of the company Mark Zuckerberg, the future of communication is expected to be shifting towards privacy and encrypted services. People can be confident about what they say to each other knowing that it remains private.
At the same time, they are also trying to integrate the messaging functions of WhatsApp, Messenger, and Instagram. The intention is to move towards a better integration between WhatsApp and Messenger, which are expected to become the main ways in which people communicate on the Facebook network.
Nonetheless, they have not informed anything specific about privacy or enhanced private features. At the same time, there is no explanation about how much it would cost to move towards this goal of enhanced privacy.
Back in 2018, Facebook experienced some issues with users’ privacy and data. The scandals related to Cambridge Analytica remain a hot topic among the Facebook community. At that time, a political research firm used data from Facebook users to target political ads in 2016. There are some users that have adjusted their privacy settings in order to avoid sharing more information that they really want to share.
According to CNBC, analysts expect Facebook to report revenue growth from $12 billion to $15 billion. This means that the company will be registering the slowest growth for any quarter compared to a year ago since Facebook launched its IPO in 2012.
Henry Liu, a former Facebook employee, commented:
“Zuck’s announcement about the company’s pivot clearly shows that they will be investing in other revenue streams and business models outside of their core business. It’s important for investors to pay attention to what those things are.”
Several virtual currencies in the market provide users with a set of privacy tools that allow them to be sure that their data is protected and not shared with other parties. Moreover, people do not have to trust a third party company but they work without a centralized authority.