Product

Learn

Company

AKTIO coin

Decentralists criticize Uniswap's new privacy policy.

CRYPTO_NEWS UNI

As a consequence of the recently revised privacy policy of the decentralized exchange (DEX) Uniswap, it seems that some users are displeased with the service. These people are worried that the practice of gathering and storing user data violates the core ideas behind cryptocurrencies. 

 

A few vocal members of the community have replied in recent days to a blog post that was written back in November and published on the website to announce an updated privacy policy for the organization. They have mentioned in their comments that it is rare for a decentralized firm to obtain and preserve information about its users. This is something that they have stated. Being open and honest is really necessary. It was stated there that they did not want any of their customers to be surprised at any point. This privacy policy, which was most recently updated on November 17th, reveals that the exchange collects data from publicly-available blockchains, information about user devices such as browser information and operating systems, and information about users' interactions with the exchange's service providers, amongst other types of information. 

 

The most recent update to this policy occurred on November 17th. In addition, Uniswap said that none of this information includes personally identifying details such as a first or last name, street address, date of birth, email address, or Internet protocol address. Uniswap has confirmed that the aforementioned information is absent from this material. Despite this, some members of the cryptocurrency community have expressed concerns that the developments run counter to the industry's fundamental principles, which are centered on protecting the privacy and anonymity of users. These members of the community have voiced their concerns in a number of different ways. The programmers who created the cryptocurrency that protects users' anonymity On November 21, Firo sent out a tweet to its 83,700 followers in which it said that the recent privacy upgrade that was done by Uniswap establishes a "dangerous precedent" for DEXs. 

 

The post was directed against Uniswap. OwenP, an affiliate for the decentralized exchange SpookySwap, made the statement that it was unusual for a decentralized exchange to gather and keep user information on the backend of the platform. OwenP's statement was made in response to a question about why a decentralized exchange would do such a thing. As a result of the recent shutdown of the FTX cryptocurrency exchange at the beginning of this month, the term "transparency" has gained greater traction in the industry. 

 

Source : news.google.com/__i/rss/rd/articles/CBMiUGh0dHBzOi8vYmxvY2tjaGFpbi5uZXdzL25ld3MvZGVjZW50cmFsaXN0cy1jcml0aWNpemUtdW5pc3dhcHMtbmV3LXByaXZhY3ktcG9saWN50gEA?oc=5 undefined - November 22, 2022

Join our 60k+
tribe of Akters

Have any questions?

Check our Q&A

About the AKTIO coin

Benefit fully from our ecosystem

What’s new in the App?

We’re adding new features

Customer support

support@akt.io

+353 1 574 7382

Opening hours:

Monday to Friday: 9am - 5pm CET

Company

About

AKTIO coin

Careers

Learn

News

Glossary

AKT Academy

Help

FAQ

Sitemap

System Status

Automata Pay

65-66 Warwick House 4th

Floor, Queen Street, London

England, EC4R 1EB

Automata ICO Ltd

3rd Floor Ormond Building,

31-36 Ormond Quay Upper,

Dublin 7, D07 Ee37

Automata Pay Europe Ltd

3rd Floor Ormond Building,

31-36 Ormond Quay Upper,

Dublin 7, D07 Ee37

Automata Pay Ltd, Reg number 12208424 and incorporated in the United Kingdom is the registered agent of Modulr FS Limited, a company registered in England with company number 09897919, authorised and regulated by the Financial Conduct Authority as an Electronic Money Institution (Firm Reference Number: 900573). Traditional currency will be safeguarded by a licensed bank in segregated accounts in accordance with regulatory requirements.

Automata Pay Europe Limited, Reg number 69028 and incorporated in Ireland is the registered agent of Modulr FS Europe Limited, a company registered in Ireland with company number 638002, authorised and regulated by the Central Bank of Ireland as an Electronic Money Institution (Institution Code C191242). Traditional currency is safeguarded as e-money in accordance with our regulatory obligations. Traditional currency will be safeguarded by a licensed bank in segregated accounts in accordance with regulatory requirements.

Automata ICO Limited, Reg number 690280 and incorporated in Ireland has applied for a Virtual Asset Service Provider registration with the Central Bank of Ireland. Whilst the application is ongoing we are permitted to continue business as a Virtual Asset Service Provider in line with the Central Bank of Ireland's regulatory disclosure statement as required under section 106L of the CJA 2010 in relation to registered VASPS. It is important to note that a registration as a VASP is a registration for Anti-Money Laundering (AML) and Combatting the Financing of Terrorism (CFT) purposes only. While Automata ICO Limited does have certain financial crime control obligations under this registration, cryptoasset services remain largely unregulated. The Financial Ombudsman Service or the Financial Services Compensation Scheme do not apply to the cryptoasset activities carried on by Automata ICO Limited.