Facebook is at pains to address such anxieties, but its initial outline of how the new currency will be used in Messenger and WhatsApp via Calibra is not exactly reassuring. At the very least, Facebook will know the people and companies with whom its users have financially interacted, but that is likely to only be the start. “Calibra will not share account information or financial data with Facebook, Inc or any third party without customer consent,” it says (my italics). Obviously, the company has past form here: the kind of forced consent that means you either allow Facebook to gobble up your data or don’t get access to many of its services. Whatever the guarantees, the most basic point is obvious enough: why should a company with such an appalling record on personal data be trusted to so massively extend its reach?
Source: If Facebook or Google create their own currency, they can control our lives | John Harris | Opinion | The Guardian