David Marcus: Calibra and Facebook data will not be mixed and will hire an auditor to review personal data.

According to Cointelegraph's November 7 report, David Marcus, CEO of Calibra's cryptocurrency wallet, attended the New York Times Dealbook Conference in New York City, where he met. Discussed topics such as the global regulatory review that the Stabilization Coin project continues to face.

Libra-4283995_960_720

Image source: pixabay

Calibra considers hiring a data audit agency to review data

On November 6, the Facebook co-founder of the Libra Stabilization Coin project was interviewed by Andrew Ross Sorkin of the New York Times and NBC Financial Channel (CNBC).

In response to a viewer's question about privacy and protection of personal data, Marcus said that Facebook and its Calibra wallet would not mix personal data from social platforms with financial data from the cryptocurrency wallet. He said:

"We built a very solid firewall between Calibra and Facebook. If you are just a Facebook user, you can't access the data from Calibra."

Marcus added that Calibra is investigating whether it can audit the separation between it and Facebook. "This way we can ensure that third parties monitor it."

Global regulators are concerned about the security of customer data when using Facebook's proposed Libra stable currency (Calibra for Libra's wallet). Data protection oversight bodies in the UK and Switzerland, as well as representatives from the United States, have raised questions about Facebook in this regard.

Understanding Libra is not a "little thing"

Marcus first stated that he expected the global regulatory review to be "almost the same as the actual situation."

He explained that he knew that the regulator would strongly oppose it because it was "not a trivial matter" to understand Libra's design. He said that it takes a lot of time to understand the difference between the Libra Association, the Calibra wallet and Facebook.

Marcus believes that Libra was originally designed as a payment system that enables people to access modern financial services and digital currencies on a global scale, "not as a takeover of the world and everything that controls everything."

"Bitcoin is not a currency"

Marcus also said in the interview that Bitcoin is like digital gold, but he does not think Bitcoin is a currency. He said:

“I think Bitcoin is not a good trading medium because it is very volatile. I think it is more like a digital gold.”

Marcus added that people can invest in bitcoin and hold it like real gold, but bitcoin is too volatile, and those who can't afford a 10% or 20% drop a day can't use it. A means of payment.

He believes that the main reason that Bitcoin is not regulated is that regulators believe that Bitcoin is not a medium of exchange and therefore does not threaten their monopoly on monetary policy.