Technologies

Facebook to Meta: A new name but the same old problems

Plagued by scandals, Facebook rebrands itself as Meta. The tech giant still must earn back our trust.

Facebook’s iconic thumbs-up sign at its Menlo Park, California, headquarters now bears a blue infinity-shaped symbol along with a new name: Meta.

The corporate rebranding, unveiled Thursday at Facebook’s Connect conference, is part of Facebook’s headlong sprint into the metaverse, a virtual environment where people could work, play, learn and socialize with one another. CEO Mark Zuckerberg called the metaverse, which at this point is largely hypothetical, «the successor to the mobile internet.»

In barreling headlong into the metaverse, however, Facebook may be repeating the practices that got it into trouble in the first place. The company’s former mantra — «Move fast and break things» — encouraged a culture that rewarded new ideas without careful consideration of the risks. The metaverse will create an entirely new environment for Facebook’s legacy problems to take root.

Facebook’s hard-charging attitude has contributed to it racking up a seemingly endless list of scandals around data privacy, hate speech and misinformation. It’s been blamed for destroying democracy and for body shaming. The company’s latest controversy, which involves leaked documents gathered by former Facebook product manager Frances Haugen, has proved especially damaging. Haugen alleges the company has misled the public and investors about its role in perpetuating hate speech, misinformation and other harmful content.

Facebook denies the accusations, noting that it has more than 40,000 people working on safety and security. About 3.58 billion people use Facebook and its services every month.

Analysts say a clever rebranding won’t help Facebook distance itself from its many problems.

«A name change doesn’t suddenly erase the systemic issues plaguing the company,» Forrester vice president and research director Mike Proulx said in a statement. «If Meta doesn’t address its issues beyond a defensive and superficial attitude, those same issues will occupy the metaverse.»

Forrester, which surveyed 745 people across the US, Canada and the UK, said 75% of those polled disagreed that a new company name will increase their trust in Facebook.

The company says the rebranding is a refocusing of its corporate priorities. Founded in 2004 in a Harvard dorm room, Facebook has spread beyond its roots as a social network. The tech giant now has virtual reality headsets, smart glasses and video chat devices. It’s also dabbling in finance with its Novi cryptocurrency wallet.

During the Connect keynote, Zuckerberg said he’s well aware of the risks that come with entering a new field. Facebook doesn’t have a great track record when it comes to protecting the privacy and safety of its users, and those issues won’t vanish in the metaverse.

«Every chapter brings new voices and new ideas but also new challenges, risks and disruption of established interests,» he said. «We’ll need to work together, from the beginning, to bring the best possible version of this future to life.»

A future utopia or dystopia?

Zuckerberg’s presentation painted a hopeful vision of the metaverse, filled with digital spaces for people to gather. Friends could fence using virtual swords, attend concerts from their homes or simply work together in virtual offices.

But Facebook will also have to deal with the same issues it grapples with on social media, including data privacy, security, child-exploitation dangers, and content moderation. Misinformation has been a widespread problem on Facebook’s namesake social network. Lies that spread on the platform have been blamed for the Jan. 6 insurrection and for hesitancy to get COVID vaccinations.

That wasn’t lost on lawmakers, who’ve been studying ways to regulate the company and its Big Tech peers.

«Meta as in ‘we are a cancer to democracy metastasizing into a global surveillance and propaganda machine for boosting authoritarian regimes and destroying civil society… for profit!'» tweeted Rep. Alexandria Ocasio-Cortez, a Democrat from New York.

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Sens. Richard Blumenthal, a Connecticut Democrat, and Marsha Blackburn, a Tennessee Republican, also warned Zuckerberg a name change wouldn’t deter lawmakers from pursuing Facebook. The two senators lead a subcommittee that recently met with Haugen to discuss her concerns about the social network.

Virtual worlds existed long before Facebook ramped up investment in VR and augmented reality after its purchase of headset maker Oculus in 2014. And the world of virtual reality already has a harassment problem. In 2007, Belgian police were looking into whether an avatar allegedly raped another character in Second Life, a virtual world developed by Linden Lab, according to The Washington Post.

Andrew «Boz» Bosworth, who’ll become the company’s new chief technology officer in 2022, said in a video chat before the conference that muting another user could help give people more control over their surroundings in VR if they’re being harassed. Facebook is also exploring ideas such as allowing users to share with authorities the last 10 to 15 seconds of a VR interaction they’ve had with another person. The company, though, will have to weigh the trade-offs between privacy and user safety, a dilemma it’s confronted before with end-to-end encrypted chats on messaging apps.

Another issue that may pop up is the use of avatars to impersonate others. One solution could be tying the avatar to an authenticated account or verifying identity in some other way.

A new name, however, won’t help Facebook dodge its old problems. Lawmakers, celebrities and critics took swings at the company after its big reveal.

«Changing their name doesn’t change reality: Facebook is destroying our democracy and is the world’s leading peddler of disinformation and hate,» said the Real Facebook Oversight Board, a group of well-known critics. «Their meaningless name change should not distract from the investigation, regulation and real, independent oversight needed to hold Facebook accountable.»

Technologies

Verum Ecosystem: The Future of Digital Communication and Finance

In an era of rapid technological changes, where the world demands new approaches to communication, data security, and financial management, the Verum ecosystem emerges as a pivotal technological breakthrough. It’s not just a collection of standalone applications but a seamlessly integrated platform that unites cutting-edge innovations in one environment. At its core is Verum Messenger, transforming traditional communication and financial operations. However, this is merely the tip of the iceberg: behind the messenger lies an entire ecosystem of products, each uniquely designed to redefine the digital landscape.

This article dives deep into what the Verum ecosystem offers and how its products interact to create a unified digital space.

Verum Messenger: A Tool for Communication and Security

Verum Messenger is not just a messaging app. It’s a multifunctional platform prioritizing reliability, security, and user convenience. Unlike most messengers, Verum focuses on integrating various technologies to create the perfect communication environment:

Verum AI: Integrated directly into the messenger, this chatbot is a smart assistant capable of handling tasks like data searches, task planning, message responses, data analysis, and more complex operations.
Built-in VPN: A crucial feature for ensuring privacy. Unlike standard VPN services, users can activate protection with a single click without leaving the messenger. This is especially vital for those who value anonymity online and frequently use public Wi-Fi networks.
E-SIM Integration: Enables users to connect to mobile internet without needing a physical SIM card. This technology eliminates roaming issues and significantly simplifies mobile connectivity management, offering access to networks in over 150 countries worldwide.

Verum Coin: The Cryptocurrency Uniting the Ecosystem

Verum Coin is not just a cryptocurrency but the economic foundation of the entire ecosystem. This digital asset addresses key challenges related to fast and secure financial operations, both within and beyond the Verum ecosystem:

Low Fees and High Speed: Unlike traditional payment systems, Verum Coin facilitates instant transfers and payments with minimal fees, making it an ideal solution for international transactions.
Versatility: It is used not only within the ecosystem for service payments but also on cryptocurrency exchanges, serving as a bridge between various digital assets.

BitCoinPay Trade: A High-Security Cryptocurrency Exchange

BitCoinPay Trade is not just an exchange but a high-tech platform for cryptocurrency trading:

Secure Transactions: All transfers are protected by advanced encryption methods, eliminating the risk of asset loss or theft.
Accessibility: The platform offers access to a variety of cryptocurrencies and trading options, while also supporting integration with other Verum ecosystem products.

Crypto Bank: A Reliable Wallet for Cryptocurrencies

Crypto Bank offers users a secure storage solution for digital assets. It’s designed for those actively working with cryptocurrencies and valuing financial security.

Easy Buying and Selling: Purchase and sell various cryptocurrencies with just a few taps.
Cryptocurrency Wallets: Support for major cryptocurrencies allows users to choose the most convenient and secure storage options.
Verum Coin and Other Assets: The service fully supports Verum Coin and other major cryptocurrencies, ensuring reliability and simplicity when working within the ecosystem.

Verum Pay: Integrating Cryptocurrency into Business and the Ecosystem

Verum Pay is an innovative solution bridging cryptocurrency capabilities for businesses and Verum ecosystem applications.

Integration with Payment Systems: Its user-friendly interface allows businesses to quickly adopt cryptocurrency for sales and payment processes, offering a modern approach to financial operations.
Usage within Ecosystem Applications: Verum Pay is actively used within the Verum ecosystem, enabling users to pay for services and goods using Verum Coin directly through the messenger, E-SIM platforms, VPNs, and other products.

This makes Verum Pay a universal tool for ecosystem participants and businesses outside the ecosystem, focused on a digital future.

Verum Exchange: Conversion and Mining with High Security

Verum Exchange is a currency and cryptocurrency converter with an integrated Verum Coin mining function. It stands out with:

Simple and Convenient Interface: The platform caters to both beginners and experienced users, offering real-time access to currency and cryptocurrency rates.
Verum Coin Mining: The application includes mining capabilities, allowing users to earn cryptocurrency directly on their phone or tablet.

E-SIM Applications: A Revolution in Mobile Connectivity

Mobile E-SIM applications (Verum E-SIM, World E-SIM, Euro E-SIM, Canada E-SIM, London E-SIM, USA E-SIM, Ukraine E-SIM, Balkan E-SIM, Africa E-SIM) are among the ecosystem’s most ambitious and revolutionary products. This technology provides mobile internet access in over 150 countries without the need for a physical SIM card.

No Roaming or Overcharges: Say goodbye to high international roaming fees. E-SIM allows users to connect to mobile networks with fixed and transparent tariffs, ideal for travelers and business professionals.
Full Integration with Messenger: Mobile connectivity can be managed through a separate app or directly from Verum Messenger, allowing effortless balance control, tariff selection, and service activation.

Verum VPN: Advanced Data Protection

Verum VPN is an integral part of the ecosystem, guaranteeing a high level of security for users.

Complete Encryption: VPN ensures robust data encryption, making it ideal for protecting personal information online, especially when connected to public Wi-Fi networks.
Ease of Use: Activating VPN with a single click simplifies its use, requiring no additional user settings.

Verum AI: Artificial Intelligence at Your Fingertips

Verum AI is the heart of the ecosystem, utilizing powerful algorithms for communication, analysis, and creativity while adapting to each user’s needs. Its features include:

Information and Analysis: Quickly find answers to questions, explain complex topics, analyze data, and support informed decision-making.
Creativity and Idea Generation: Generate texts, create scenarios, develop creative concepts, write articles, posts, and assist with design and programming tasks.
Assistance and Learning: Verum AI helps users acquire new skills, solve problems, and enhance their experience.

Verum Runner: A Gaming Ecosystem with Real Earnings

Verum Runner is a crypto-game that allows users to earn Verum Coin in real time. This unique mobile application motivates players to not only have fun but also gain tangible benefits.

Crypto ATMs: Convenience and Accessibility Worldwide

The Verum network of crypto ATMs enables easy exchange of Verum Coin and other popular crypto assets for fiat currency and vice versa, providing users with transaction capabilities anywhere in the world.

Prospects and Development

Verum is not merely addressing current market needs — it is crafting innovative solutions that will shape the future of digital finance and communication. Upcoming plans include launching new services, expanding AI functionality, and integrating with emerging technologies.

Verum is not just creating an ecosystem of digital services; it’s redefining the very approach to communication, finance, and security in the modern world. All ecosystem products work in perfect synergy, delivering unparalleled user experience that ensures privacy, security, and convenience at every step.

Technologies

Verum Coin (VERUM) is Now Available on Halo Wallet

Verum Coin (VERUM) continues to expand its presence in the cryptocurrency market. Users can now store and manage VERUM on Halo Wallet, known for its convenience and security.

Why Halo Wallet?

Halo Wallet is a modern Web3 wallet offering a simple interface and powerful tools for managing digital assets. With its functionality, the platform has gained the trust of millions of users worldwide.

The integration of Verum Coin with Halo Wallet opens up new opportunities for coin holders and makes it even more accessible. Stay tuned for updates and take advantage of the convenient management of your assets!

Technologies

Verum Coin (VERUM) is Now Available for Deposit on Exodus Wallet

Verum Coin (VERUM) continues to enhance its accessibility for users. You can now deposit and store VERUM in one of the most user-friendly and secure crypto wallets — Exodus Wallet.

Why Exodus?

Exodus Wallet is a popular solution for managing digital assets, known for its intuitive interface and high security standards. Millions of users worldwide choose Exodus for its convenience and reliability.

This integration brings Verum Coin even closer to its users, offering seamless storage and asset management. Stay tuned for more updates and stay ahead in the world of cryptocurrency!