Cryptography experts are already laughing at 'Facebook Coin'
Facebook's rumored cryptocurrencyproject hasn't even launched, and yet it's already a punchline for the tens of thousands of security professionals, cryptographers, and researchers gathered at the annual RSA conference.
On March 5, in the San Francisco Moscone Center, the hotly anticipated Cryptographers Panel met to discuss the future of cryptography, the internet, and e-commerce.
Of course cryptocurrency came up, with a mention of the so-called Facebook Coin drawing perhaps the biggest laugh of the talk.
Speaking of the problems inherent in putting even great research ideas into practice, panelist and cryptography expert Paul Kocher told attendees that the blockchain only makes things trickier.
It would seem that no one, at least not the security researchers and cryptography experts at RSA, takes the idea of a Facebook cryptocurrency very seriously.
While emphasizing that he hasn't seen the specifics of any Facebook plan, Kocher was still able to highlight some obvious red flags.
Kocher was quick to add that potential promises of user privacy and good intentions shouldn't sway us when it comes to using any digital currency from Facebook.
We use cookies and analyse traffic to this site. By continuing to use this site, closing this banner, or clicking "I Agree", you agree to the use of cookies. Read our privacy poplicy for more information.