Reportedly Google struck a deal with Mastercard where they had paid millions of dollars in order to be able to link online browsing to actual in store sales. Not all sales happen online, not all sales happen instantly and this is why Google shelled out a large amount of money to capture credit card sales data.
Its valuable to its 90+ billion dollar ad business to accurately track conversions to sales in order to tighten its advertising effectiveness and drive more vendors to advertise. But with that being said how valuable are the fee’s consumers are paying to use credit cards? Do we by payment of those fee’s feel entitled to some level of privacy or protection of our personal data from companies like Google? As a consumer i feel we all do and its just another example of big business selling out its own customers to feed internal greed.
Bitcoin private cannot solve this problem on its own, in the end if your forced to sign up to a website to checkout and divulge personal information your cover is blown to begin with. There is much talk going on about private crypto’s and how they are meant to end this but until the solution is end to end, the minute you register your hope of privacy is gone.
Sure you can keep the total amount of your crypto’s or who you are sending them to free from the public with the use of shielded transactions but inherently your trusting a merchant to protect your data when you register. But these are standard methods of commerce, we know we have to give an address when we order because we cannot receive our goods.
We are here in the crypto space because we want a decentralised private means of transacting. No visa no mastercard sitting there using your identity to verify or record your transactions. A decentralised network of nodes sending shielded transactions that dont publically reveal who sent what and no single entity sitting in control of the nodes collecting the data.
I think this latest disappointing revelation reinforces why decentralised networks sending shielded transactions is the future. These underhanded tactics of selling our data then charging us for what they call the privilege needs to end.