The Australian Privacy Commissioner is cautioning Facebook to learn from its mistakes and explain exactly how it will protect people's financial information when it launches its own cryptocurrency.
Facebook said its new cryptocurrency company, Libra, will allow money to be sent the same way as a text message.
Information Commissioner and Privacy Commissioner Angelene Falk says there’s a significant risk with Facebook's involvement in Libra as it has access to such a vast supply of personal information but Facebook has vowed there would be no swapping of information with Calibra unless consent is obtained.