Privacy-centered search engine DuckDuckGo says that people’s interest in online privacy is growing like crazy, and few executives think this could spell good news for bitcoin and cryptocurrency.
DuckDuckGo Pushes Privacy Further
In a recent survey conducted by the search platform, the general public was asked questions regarding their online security, and about why they felt internet privacy was one of today’s most important issues. Many suggested that they don’t want information being collected about their behavior, and many others say they’ve taken “necessary action” when it comes to protecting their online identities.
Based on these responses, it could be assumed that in the long run, this could potentially help bitcoin and cryptocurrency become more mainstream. Executives also compared using bitcoin to “deleting one’s Facebook account.” Facebook is arguably one of the most invasive social media platforms out there given that not only does it record plenty of your data, but it will also soon require facial recognition sign-ins from users.
In addition, the company’s reputation is likely forever stained thanks to its ties with Cambridge Analytica. Facebook had been selling users’ information to the company for advertising purposes, and trust in the social media platform has fallen significantly in the past several months.
A blog post produced by DuckDuckGo reads:
The results are clear: not only are privacy concerns widespread, but people are, indeed, taking action.
One of the big benefits of crypto is the privacy it offers in comparison to standard financial institutions. Many banks and traditional monetary firms collect excessive data on their customers, including birthdates, social security numbers, etc. Many people are likely not feeling at ease giving this information out to banks they’ve “just met” or aren’t entirely trusting of yet.
Crypto, on the other hand, allows parties to engage in transactions without dispelling all this information. One can easily sell or receive funds and remain “quiet.” In other words, the other person is not made privy to all their online or personal data.
According to the recent survey, approximately 80 percent of nearly 1,115 respondents have either upped their online privacy settings or lowered their social media use since 2018. In addition, nearly 25 percent of the respondents say they’ve gotten rid of all or some of their social media pages due to “privacy concerns.”
How Will This Affect Future Projects?
Naturally, this doesn’t look very good for Facebook’s Libra, a cryptocurrency being issued by the social media conglomerate. With so many people suddenly turning their backs on social media, is it safe to say that Libra could potentially encounter difficulty in finding appropriate followers and users?
In addition to all this, the use of DuckDuckGo has grown by more than 68 percent over the past 12 months, and more people are utilizing the aid of a virtual private network (VPN) and password managers.
However, with connection to cryptocurrencies and the DuckDuckGo survey, the privacy-centric search engine company has clarified its stance saying,
“We do not comment on bitcoin or cryptocurrency or make predictions. Our focus is on privacy protection, helping people take control of their personal data.”