What does Facebook Know About You? Besides Everything.

Posted by James on 6/12/19 11:15 AM

Big brother is watching you. This scary motto of George Orwell’s novel still disturbs the minds of our contemporaries, although it’s been almost 70 years since the book was published. And there’s a good reason behind the strong emotions caused by the story as nowadays it’s as close as ever to the reality and your favorite social media has made a huge contribution to that.

 

Facebook knows everything about you

 

Unlike Orwell’s vision, the reality proved to be much simpler. There are no cameras installed in every corner to spy on you. In the era of total globalization and tons of convenient services available on the web, we provide these services with our private information ourselves.

If you are an active social media user, there’s no difficulty for Facebook to learn the following aspects of your life:

  • Where you work
  • Your marital status
  • Your political preferences
  • What devices you use to log in to Facebook
  • What movies you like
  • What books you read
  • In what malls you do the shopping
  • ...and many more

You can check yourself how much this popular network knows about you by going to the settings of your profile and then clicking ‘Ads’ on the left-side bar. This is exactly where your personal file is kept on Facebook with all your personal information:

 

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How Facebook finds out these things

There are three main sources that Facebook utilizes to keep track of you.

 

  1. First and most obvious, you provide them with the basic info yourself when you sign up. Although the first step of the signup is pretty simple and only requires to put in your name, phone number, date of birth and your gender, there are many more items to add to your profile after that. Those who are keen on actively chatting with friends via Facebook, it’s crucial to fill in as much information as possible.
  2. Next, Facebook tracks all your activities within the platform: the groups and pages you like, the ads you click on, the photos you upload, people you add as friends to your network and even the places you visit if you share your geolocation via the mobile app.
  3. Finally, Facebook has its own ways to track your activities even on the websites that are not related to this social platform anyhow. Those companies that sell traffic to Facebook advertisers install the special code on their websites that passes on the information about you as soon as you open the URL. You can check the ads that are displayed in your Facebook newsfeed yourself and find familiar patterns of the products you’ve recently googled.

 

 

Who makes use of this data

Since it’s all about money in our world, your personal data is used for making money as well.

Facebook claims that your data is used for “personalizing and improving their products”, which in fact means selling it to advertisers so that they could specify more precise targeting. This is something they show on the surface. But why the scandal around GDPR then? Why would someone press charges on Facebook if everything is so smooth and glossy?

Actually, it’s not only about Facebook. In our highly centralized world, your information is stored by practically all the online platforms and services that you use, so the only way to hide away is to delete your accounts everywhere, plug out your laptop, throw away your smartphone and just go live somewhere in the woods far away from the civilization. But how many of us would decide to go to such extremes and reject all the commodities provided by modern technologies?

From the business perspective, the data protection is also a serious question. How can you gather the information about your potential clients and still respect the law?

Blockchain-based solutions may be the answer to both sides since they make it possible to gather the same information about the audience without revealing their identity.

 

Build your client’s trust with the help of MySingleSource

MySingleSouce.io is a B2B solution that provides you with all the necessary data about your potential clients and helps you stay compliant with all the GDPR restrictions at the same time. This decentralized risk scoring and identity platform gathers verified and attested identity data, helps businesses eliminate fraud and improves the process for customers.

 

MySingleSource offers 2 main products:

 

eKYC

This is an ultimate Know-Your-Customer solution that helps you conduct background and biometric checks, verify email and device, verify users’ addresses, their IDs and much more. All-in-all, this high-speed risk-scoring engine will help you gather all the necessary data about your clients.

 

Crypto-AML

This wallet-screening engine will help you verify source of funds for cryptocurrency wallets of your customers. It will help you not only identify where the funds initially came from, it will also find out if they are associated with any scam of fraud wallets or are anyhow related to illegal wallets.

SingleSource builds an ecosystem on blockchain to generate, store and exchange risk score data in a decentralized manner. The users regain control over their data in a decentralized way. They can decide themselves how much and when to share information relevant to their risk score for obtaining the service and at the same time provide an immutable record of the data used to generate the risk score. Companies, from their side, can jointly contribute fraud data and customer transaction history without breaching the privacy of the user - all this without any Big Brother to control their actions.

 

Want to know more about how our service works? Follow our blog and social channels to keep track of the project’s new releases!

Topics: gdpr, hacks, Cybersecurity

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