Calibara will "use customer data to facilitate and improve the Calibra product experience, market Calibra products and services, comply with legal and regulatory obligations, and ensure safety, security, and integrity" the Facebook subsidiary's "customer commitment" document states.
The latest group to voice concern is leading data protection authorities from around the world, including the Information Commissioner's Office (ICO) in the United Kingdom, which are demanding more clarity about the data protection handling proposals for Libra.
"Once the Libra Network goes live, it may instantly become the custodian of millions of people's personal information."
Global privacy regulators joined forces Tuesday to demand guarantees from Facebook on how it will protect users' financial data when it launches its planned cryptocurrency, Libra.
On the other hand, Facebook has pledged that it would not swap information with Calibra unless consent is obtained.
The Office of the Australian Information Commissioner and its counterparts in the UK, US, Canada and European Union have called on Facebook and its subsidiary Calibra will ensure personal information is protected when as the Libra cryptocurrency project is rolled out.
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"Facebook's handling of people's information has not met the expectations of regulators, or their own users".
We imagine Denham is looking back over Facebook's data handling debacles that have cropped up over the past 18 months or so, notably the Cambridge Analytica data scandal.
The statement also asks for assurances that only the minimum required data will be collected, that the service will be transparent, and requests details of how data will be shared between Libra Network members, the Information Commissioner's Office said.
"Given the current plans for a rapid implementation of Libra and Calibra, we are surprised and concerned that this further detail is not yet available", they said.
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They are keen to understand how the Libra association will protect user data.