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Sep 12, 2024 • 5 min read

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Venmo & PayPal Integrate New ENS Payment System
Meta Admits To Using Australian User Data To Train AI Models

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Venmo & PayPal Integrates New ENS Payment System:

PayPal and Venmo recently introduced a new integration, enabling users to send and receive cryptocurrency using Ethereum Name Service (ENS) names. ENS simplifies the process by replacing long, complicated wallet addresses with easy-to-remember names, such as “username.eth.” This integration allows users to enter an ENS name directly when transferring crypto, eliminating the need to handle error-prone wallet addresses. It enhances the user experience by making crypto transfers much more intuitive, especially for beginners.
This feature is currently available to U.S. users, affecting over 270 million people who use these platforms. As a result, it offers a more accessible and secure way to manage cryptocurrency transfers. Additionally, users benefit from a new Address Book feature, allowing them to store frequently used ENS names and wallet addresses. This makes recurring transactions even more convenient, offering functionality similar to traditional payment systems, but now within the crypto space.
The integration is part of PayPal and Venmo’s broader strategy to grow their cryptocurrency services, building on efforts that began in 2020 when PayPal first allowed users to buy, hold, and sell crypto. By incorporating ENS, these platforms are not only simplifying the technical aspects of cryptocurrency but also reducing the risks associated with incorrect transactions, which have been a significant concern for users dealing with blockchain addresses.

Meta Admits To Using Australian User Data To Train AI Models:

Meta, the parent company of Facebook and Instagram, has acknowledged that it has been collecting public data from Australian users since 2007 to train its AI models. This includes public posts, photos, and other content shared on these platforms. Unlike in the European Union (EU) and the United States, where users are offered the option to opt-out of this data collection due to stricter privacy laws, Australians are not given this choice. Meta's admission came during a recent inquiry into the company’s AI practices in Australia.
In the EU, the General Data Protection Regulation (GDPR) requires companies like Meta to provide users with control over their personal data, including the right to refuse its use for AI training. In Australia, no such regulations exist, leaving millions of users unaware that their data is being harvested. While Meta has halted its AI product rollout in Europe due to these privacy regulations, it has continued to collect public data from Australians without offering them the same protections.
This situation has drawn significant criticism from Australian lawmakers and privacy advocates. During the inquiry, concerns were raised about the potential misuse of personal data, including that of minors, as the data scraping applies to any publicly available content. Lawmakers called for reforms to Australian privacy laws, arguing that users in Australia should have the same rights and protections as those in the EU.
As the use of AI becomes more integrated into everyday technologies, the lack of robust privacy laws in countries like Australia leaves users vulnerable to data exploitation. The ongoing debate over data privacy and the ethical use of personal information has highlighted the need for governments to update their regulations to keep pace with technological advancements and ensure users' rights are protected.

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