After getting 48 money-service licenses in the U.S., Facebook is now doing the same in Europe. But it could be a few years before people trust the platform enough to process their cash.
The Federal Trade Commission has publicly reminded Facebook and WhatsApp of their ‘obligations’ to privacy, and says it will monitor how they use people’s data.
Messaging network ZunZuneo was a remarkable social media ploy aimed at stimulating social change. So long as it relied on government cash though, the project couldn’t stick around.