How would you feel about having your Facebook account scrutinized, just to see whether or not you will be qualified for a business loan? Well, even if this strikes as odd to you, it may well be the case in a matter of time.
For those who do not believe it is possible, check out the patent brought out by Facebook on the specific issue. The way a person is connected online reveals valuable pieces of information about the person. Is this lawful and, more than that, is this justifiable and ethical?
Whether somebody is credible or not will make a huge difference, when it comes to expanding global economy. In an environment when activities like crowdfunding are expected to cover a substantial percentage of the economy, one can only agree on the acknowledgement that the web has got great power over finances.
So, even with the volume of data shared over social networking, the results will be significant. Patterns and characteristics of a person may be revealed on the Internet and therefore potential lenders can have a clue about whether or not their investment is viable.
A development like this cannot be expected to prove itself from one day to the next. On the contrary, it takes time for the consequences to become visible. So, only after putting such a patent into effect and allowing banks to grab hold of the shared data online, will we be able to conclude as to the results.
After all, individual privacy can become too rare for somebody to even care in the near future. No matter how hard we try to keep things to ourselves, the Internet can be a source of valuable information to those who know where to look and how.
In the light of such upcoming events, it is only fair to assume that great changes are going to take place on Facebook and the lot. For instance, if somebody knows that the bank is going to check his creditworthiness on Facebook, it goes without even saying that he is going to unfriend those who are the weakest links among his friends. As a direct result, Facebook will not be proven extremely helpful towards revealing one’s creditworthiness. This seems like a vicious circle, doesn’t it?
It is up to us how to handle the new changes online, when they do occur. The truth is that we should all be extremely careful when sharing things online and when befriending people on social media. But we already know that…