Facebook will be indicted with a record fine by the Federal trade Commission

Facebook will be indicted with a record fine by the Federal trade Commission

It is reported that Facebook will be charged with the Federal trade Commission of the USA because of the massive scandal with the data breach. Facebook reportedly violated the privacy of its users by selling their personal information to third parties for a long time.

The investigation of Facebook by the Federal Trade Commission States

According to a recent report, the Federal Trade Commission is on track to impose a huge fine on Facebook. The social networking giant have done little to protect the privacy of its users, reaching number two billion per month.

The scandal of the Cambridge Analytica

At the beginning of last year, Facebook was accused of allowing Cambridge Analytica, the firm data analysis in the UK use personal information about 87 million users without their permission.

Saying it was a violation of the regulations on the agreement that was made in 2011, when Facebook agreed to get permission from its users before sharing their personal information with third parties.

Although Facebook denies all of the charges, the consequences of these allegations are already catching up with the platform. Some users have deleted their accounts, stating that they are concerned about such use of their data. For example, actor will Ferrell and Playboy magazine.

Also billionaire Elon Musk has deleted the accounts of his companies Tesla and SpaceX.

“This is not a political statement, and I didn’t do it because I someone made. I just don’t like Facebook.”

Another drawback of centralization

This debacle was severely criticized by the blockchain community. The breach of privacy committed by Facebook, has further strengthened the position of supporters of the cryptocurrency when it comes to trust big data centralized organization. Facebook is currently being used as a benchmark when talking about the reasons why everything should be decentralized.

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