Facial recognition technology is opposed in many different countries. Coinbase, a major crypto trading platform, is one of the many companies currently utilizing this technology.
More specifically, it appears that Coinbase is a client of Clearview.
Coinbase and Clearview are in Cahoots
That company has built up a strong yet extremely controversial reputation regarding its facial recognition technology.
Clearview is currently working together with over 2,000 entities globally, yet just one cryptocurrency exchange.
Why a company such as Coinbase needs such technology, is subject to plenty of speculation.
Clearview’s tools scrape data from websites and social media platforms to match images.
Information collected Buzzfeed confirms that CB has used this tool, albeit only once or twice.
So far, no customer data has been officially used in tests regarding software provided by Clearview.
This new report doesn’t benefit the crypto firm in any way.
Previous complaints regarding customer privacy have caused quite the stir for the exchange.
The use of facial recognition technology remains very controversial due to its apparent bias and invasion of privacy.
In some countries, it is even banned by law.
For Clearview, that doesn’t pose too many problems as of yet.
Its main clients are US regulators, including the Department of Homeland Security and the Secret Service.