Connect with us

Enterprise

Meta threatens to shut down Facebook and Instagram in Europe

Probably nothing more than a hollow threat to sway EU regulators in its favor.

Published

on

Meta (previously Facebook) has threatened to take its social networks Facebook and Instagram out of the EU if authorities refuse to allow it to process personal user data in both Europe and the United States. In a report to the US Securities and Exchange Commission, the business makes this apparent (via Pocketnow).

Meta states in the report that it is critical to its business to process data in both the EU and the US in order for its operations and ad targeting business to run smoothly.

If we are unable to transfer data between and among countries and regions in which we operate, or if we are restricted from sharing data among our products and services, it could affect our ability to provide our services, the manner in which we provide our services or our ability to target ads.

Meta Spokesperson

The issue is that EU legislation mandates that individuals’ data be handled solely on European computers, with past data-sharing agreements between the US and EU deemed insufficient and no new regulations on the horizon to make the activity legitimate. Meta hopes to reach a new agreement by 2022, but if that doesn’t happen, the business sees a bleak future for its social networks in Europe.

If a new transatlantic data transfer framework is not adopted and we are unable to continue to rely on SCCs [Standard Contractual Clauses] or rely upon other alternative means of data transfers from Europe to the United States, we will likely be unable to offer a number of our most significant products and services, including Facebook and Instagram, in Europe, which would materially and adversely affect our business, financial condition, and results of operations.

Meta Spokesperson

Surprisingly, WhatsApp, the company’s encrypted messaging, isn’t included as a counter-argument. While the phrase “including Facebook and Instagram” in the announcement may be interpreted as referring to the service, it seems odd that the firm would not utilize WhatsApp as extra leverage, given that it is the de facto communications standard in many EU nations. Given WhatsApp’s encrypted nature and lack of adverts, it’s feasible that separating European and American data wouldn’t have a significant impact on the company’s financial line.

Even if adverts can no longer be customized 100 percent to consumers, there is simply too much money to be earned in the EU. Losing such a large market would be devastating news, especially given Meta’s recent 25% drop in market value following its quarterly earnings announcement. It’s most likely just a threat intended to have the EU reassess its data-sharing policies across national boundaries.

RV Cuarto is the founder and editor-in-chief of EveryTechEver, a startup team of writers and researchers. He started in tech journalism in the early days of 2012 as the founder of the successful tech site Nokia Revolution. His belt of experience spans across the industry, from consumer electronics, data operations, and cloud computing, with several brands including Dell, Nokia, Realme, and Huawei. He is also an HIV advocate and a public speaker. He spends his free time singing, playing mobile games, and experimenting with new recipes in his kitchen. Follow him on Tiktok.

Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published.

Enterprise

Home Credit wins Privacy Management Program Award

The company is recognized for improving its data protection practices in accordance with the Data Privacy Act.

Published

on

Data Privacy Act

Home Credit Philippines (HCPH), the country’s leading global consumer finance company, wins the Privacy Management Program Award for Non-bank Financial Sector during the National Privacy Commission’s Privacy Awareness Week (PAW) Awards 2022.

Leading this project to continue building customer and other stakeholder trust and protection is Atty. Reiyl Siang, HCPH’s Data Protection Officer, is also a finalist for the Data Protection Officer of the Year. During the first day of NPC’s PAW celebration, he was also a discussant speaking on the importance of transparency in establishing trust in online lending.

HCPH is recognized for consistently updating and improving its data protection practices ensuring that the personal data of data subjects (employees, customers, and vendors) are protected and safeguarded in accordance with the Data Privacy Act.

Proactive and not Reactive Security  

To ensure that its standards of data protection are maintained, HCPH developed a Privacy Manual for all external partners that process HCPH data, particularly Personal Data. Part of the policy found in the manual is to only partner with organizations, which process personal data with security controls at least at par with company policies or policies of the group of companies to which HCPH belongs. This management style helps HCPH incorporate data protection controls with partners to prevent possible data breaches and improve partners’ data security. 

Data Privacy Act
Republic Act No. 10173, otherwise known as the Data Privacy Act is a law that seeks to protect all forms of information, be it private, personal, or sensitive. It is meant to cover both natural and juridical persons involved in the processing of personal information.

HCPH privacy management is made to be preventive and not remedial to data protection, anticipating future security issues and risks for the company. With its manual set in place, HCPH regularly conducts compliance testing on data privacy issues faced by business units to validate risk ratings and security controls, making HCPH safe and secure through its proactive security measures which complement its security management processes in response to possible incidents. 

Security from Inside Out

HCPH continuously enhances its internal Privacy Management Governance Framework which balances the individual’s right to data privacy while enabling business strategy. This Framework serves as HCPH’s model or map in seeing the interrelated relationships, factors, and other influences upon the business, especially concerning data privacy. It steers HCPH in the right direction in terms of management and regulatory compliance to achieve its business objectives of having efficient processes, accountability, and ensuring customer trust.

“Data privacy is a priority here at Home Credit. We ensure that our customers, partners, and internal stakeholders can depend on us to uphold their privacy rights and process their personal data lawfully. Developing a company-initiated security framework that meets or even exceeds our obligations under the Data Privacy Act of 2012 is of utmost importance to us,” shares Atty. Reiyl Siang, HCPH Data Protection Officer.

Atty. Siang adds, “As we continue to provide financial inclusion to unbanked and underserved Filipinos across all walks of life, we also continue to build trust among all stakeholders to continue doing business with us.”

Continue Reading

Enterprise

Huawei attracting world-class talent for a greener world

The Chinese giant vows to boost investment in innovation to build new products and enhance and accelerate new technologies.

Published

on

Huawei kicked off its 19th annual Global Analyst Summit in Shenzhen. Huawei’s Rotating Chairman Ken Hu said that the company will continue to boost investment in innovation to build new products and enhance and accelerate new technologies.

Ken Hu, gave a keynote on Huawei’s approach to innovation and building a greener intelligent world. “At Huawei, when we talk about innovation, the first thing we think is people. We hope to attract world-class talent with world-class challenges, and work together to push the limits of science and technology,” said Hu, referring to the Top Minds recruitment program that the company launched on its website yesterday.

“We don’t care where you’re from, where you graduated, or what you studied,” he continued. “As long as you have a dream for the future and believe you can make it happen, we want you to come and join us. We provide world-class challenges, a powerful platform, and all the resources you need to explore the unknown.”

Ken Hu, Huawei’s Rotating Chairman, speaking at HAS 2022

Hu went on to discuss the specific initiatives that Huawei is working on to realize its vision for the future. “We are currently focusing on three areas: strengthening our approach to innovation, equipping all industries with the tools and knowledge they need to go digital, and helping build a low-carbon world.”

The following is a summary of these three initiatives.

Innovating nonstop and advancing the industry:

  • In terms of connectivity, Huawei continues to drive the industry forward. The company announced its vision to enable 10 Gbps connections everywhere with 5.5G and F5.5G, the next evolutions in wireless and fixed networks. Together, these will support a broader range of niche network requirements, including a more immersive experience in homes as well as the low latency and high reliability needed for industrial control scenarios.
  • In terms of computing, Huawei is redefining system architectures for individual nodes, foundational software, and data centers in an effort to significantly increase system performance and energy efficiency.
  • In cloud services, Huawei is building MetaStudio, a cloud-based, end-to-end digital content pipeline that will greatly expedite digital content production.
  • In terms of devices, Huawei aims to provide consumers with a user-centric intelligent experience in all aspects of their lives – what the company calls a Seamless AI Life experience – effectively accelerating the convergence of the physical and digital worlds.

Diving into digital transformation to create new value for customers:

  • Huawei is adapting its products and product portfolios to different industrial scenarios. At the same time, it will start pre-integrating and pre-verifying products, doing all the complex work beforehand to make digital transformation easier for its customers and partners. With Huawei Cloud as the foundation, Huawei aims to provide “Everything as a Service”, turning infrastructure, technology, and expertise into cloud-based services, and making cloud migration easier for customers in different industries.
  • Huawei is also building integrated teams that focus on specific industries, bringing a specialized group of experts closer to customers’ business challenges and more tightly incorporating horizontal resources, i.e., products and capabilities from partners. The goal is to provide targeted digital transformation solutions for each industry and respond more rapidly to customer needs.

Optimizing power supply and consumption with digital technology to enable low-carbon development:

  • Huawei is redefining the PV sector with AI, cloud, and other capabilities to boost the generation of renewable energy.
  • Huawei is also developing system-level low-carbon solutions for green ICT infrastructure, focusing on wireless base stations and data centers.

Moving forward, Huawei is taking active steps to boost its business resilience and ensure steady development. “We have to keep the ball rolling through nonstop innovation, creating value for customers and society,” said Ken Hu. “We look forward to working more closely with our customers and partners to build a greener intelligent world.”

In addition to its innovation strategy, Huawei also shared its far-reaching vision for the future and some of the exploration it’s doing to get there. Dr. Zhou Hong, President of Huawei’s Institute of Strategic Research, said that “everything we imagine today is very likely to be too conservative – too little – for tomorrow. We have to meet the future with bold hypotheses and a bold vision, and throw caution to the wind as we push to break through bottlenecks in theory and technology. This is the only way forward.”

Here in the Philippines, Huawei also had several programs for cultivating the local ICT talents, such as ICT Academy, and Seeds for the Future, which covered the Philippines for years, and benefited over 9000 ICT students, according to Daniel Guo, the Vice President of Huawei Philippines.

In the event, Dr. Zhou outlined ten challenges that Huawei hopes to address moving forward.

Two scientific questions:

  • How do machines perceive the world, and can we build models that teach machines how to understand the world?
  • How can we better understand the physiological mechanisms of the human body, including how the eight systems of the bodywork, as well as human intent and intelligence?

Eight tech challenges:

  • New sensing and control capabilities, e.g., brain-computer interfaces, muscle-computer interfaces, 3D displays, virtual touch, virtual smell, and virtual taste
  • Real-time, unobtrusive blood pressure, blood sugar, and heart monitoring, and strong AI-assisted discoveries in chemical pharmaceuticals, biopharmaceuticals, and vaccines
  • Application-centric, efficient, automated, and intelligent software for greater value and a better experience
  • Reaching and circumventing Shannon’s limit to enable efficient, high-performance connectivity both regionally and globally
  • Adaptive and efficient computing models, non-Von Neumann architectures, unconventional components, and explainable and debuggable AI
  • Inventing new molecules, catalysts, and components with intelligent computing
  • Developing new processes that surpass CMOS, cost less, and are more efficient
  • Safe, efficient energy conversion and storage, as well as on-demand services
Continue Reading

Enterprise

Elon Musk officially bought Twitter. Here’s what will happen next

Musk describes himself as a “free speech absolutist.

Published

on

According to a press release issued today by the company, Musk’s offer to buy Twitter has been accepted. Elon Musk paid $54.20 per share, which was the same price he offered on April 14th.

“Free speech is the backbone of a functional democracy, and Twitter is the digital town square where important issues affecting humanity’s future are debated,” Musk said in a statement accompanying the announcement. “I also want to make Twitter better than it has ever been by adding new features, opening up the algorithms to increase trust, combating spam bots, and authenticating all humans.”

Elon Musk has argued that social networks should not remove comments that, while offensive, are still legal. During a recent interview at a TED conference, he said, “If it’s a gray area, let the tweet exist.”

Elon Musk has been outspoken in his criticism of Twitter moderators, describing himself as a “free speech absolutist” and raising concerns over how the platform would moderate under his control. “It’s just really important that people have the reality and the perception that they’re able to speak freely within the bounds of the law,” Musk said in an interview with Chris Anderson during TED 2022. “I think broadly, the civilizational risk is decreased the more we can increase the trust of Twitter as a public platform.”

elon musk
Getty Images

Twitter currently bans harassment, abuse, and posts that wish physical harm to someone. The platform has other guardrails too, like a prohibition on misinformation related to COVID-19.

Experts who study social networks fret about Musk’s push to loosen the rules of engagement on Twitter. They say that could give license to harassers, trolls, and others who abuse the platform to target people.

They also worry relaxing the rules on Twitter will empower those looking to exploit the platform by spreading misinformation, or flat-out lies, about political events, government officials, and matters related to public health and safety.

In an SEC filing on Thursday, Musk laid out his plan for funding the deal in an SEC filing, which includes $25.5 billion in loans and $21 billion in personal equity. Analysts believe the loans could cost Twitter as much as $1 billion a year in servicing fees, or roughly 20 percent of the company’s annual revenue.

Shortly after Musk announced the buyout plan, Twitter’s board instituted a “poison pill” measure, suggesting it intended to resist Musk’s buyout. It’s unclear what led to the company’s change of heart. A New York Times report on Monday described Twitter employees as divided by the news, with little information concerning the ongoing talks.

At one point, Musk was offered a seat on the company’s board of directors, but the deal soon fell apart, as a seat on the board would prevent him from buying more than a 14.9 percent stake in Twitter.

Continue Reading

Reviews

Peripherals3 days ago

Axgon AXGH1V1 Review: Powerful yet affordable gaming headset

An affordable gaming headset packed with premium features.

Gaming4 days ago

Axgon AX1CVA Review: A stylish gaming chair for less

With a full steel frame, a chic color scheme, and affordable price, will it appeal to gamers?

Mobile2 weeks ago

Samsung Galaxy A13 Review: A smack in the middle

An affordable Android phone that has decent performance, more than a day of battery life, and class-leading software support.

Mobile4 weeks ago

vivo T1 5G Review: A new mid-range champ

If you want a stylish phone that is fast, reliable, and has a great battery life, the Vivo T1 5G...

Reviews4 weeks ago

Go Hotels will make your travel to Puerto Princesa hassle-free

It's a go-to hotel in the heart of Palawan.

Monitors1 month ago

Lenovo Legion Y25g-30 Review: A versatile gaming monitor

A perfect monitor for competitive gamers?

Mobile2 months ago

Vivo T1 5G: Unboxing and First Impressions

Is the Vivo T1 5G the right phone for you? Let's take a quick look at our first impressions. 

Lifestyle2 months ago

Peculiar Eyewear HUGO Anti-radiation Eyewear Review

Keep your eyes protected with trendy specs from Peculiar Eyewear for as low as Php 189 only at Shopee's 6.6...

Accessories3 months ago

Anker PowerPort III Review: The Only Charger You Need

Truly live more when you charge fast!

Accessories3 months ago

Anker Nano PIQ 3.0 Review: A compact universal charger

It's one of the smallest yet most powerful fast chargers we've tested.

Advertisement

Trending