David Markus, head of Facebook's blockchain division, sent a letter to the U.S. House of Representatives' Financial Services Committee ahead of the Libra cryptocurrency project hearing, reports The Hill.
"I want to give you my personal assurance that we intend to spend as much time as it takes to do things right," he wrote.
Markus also once again tried to dispel some of the doubts of congressmen, noting that the personal data of users will not be tied to transactions in blockchain Libra.
"As with common cryptocurrencies such as Ethereum and Bitcoin, the transactions that will take place directly in the Libra blockchain will remain "pseudonymous," meaning that the user's personal information will not be made public," he added.
Publicly available will be the addresses used, timestamps and transaction amounts, but user data will be stored by purse providers, which may be third party developers. They will be responsible for the amount of information collected and compliance with the law.
He also noted that Facebook Payments, Inc. has "non-public personal financial information" but never uses it for advertising or user profile purposes. The Libra Association will have less data available than Facebook Payments currently has.
In mid-July, the U.S. Congress will hold two hearings on the Libra cryptocurrency, at which Markus will represent the social network.
Do you trust facebook on this aspect? or they will leak information?
Trust Facebook with my private information? Fucking retarded idea. They’ve proven they are weak when it comes to security. Mark Zuckerberg is a fucking tool. Lol
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STOP.