03 Apr Hungarian Startup Plans to Create “Encrypted Facebook”
A Hungarian file-sharing startup called Tresorit said this week that it is planning to launch an encrypted social media service as an alternative to users looking for a more secure and private social network like Facebook.
The company is currently crowdfunding $1 million for the platform called Prevaat, an idea conceived following Facebook’s recent privacy scandal.
Tresorit says that a fundamental problem with Facebook and other popular social networks is that users’ content and connections are accessed in plaintext, readable format on their servers. This gives such companies ultimate control over user data and multiple ways to misuse it, which is a business model built on privacy violation by design.