ConsenSys to Update MetaMask Crypto Wallet After Privacy Backlash
metamask got got itself into a little
bit of a Twitter Firestorm a while ago
when people got really mad that metamask
was sharing certain data with inferior
which is a consensus sister company that
runs a lot of back-end software that
many dapps run on so in response to this
backlash consensus is updating
metamask’s policies around data sharing
and making it more easier for people to
opt out of some of the practices that
had previously been published in the
terms of service to uh too much scorn
and Loud tweets from people who took
take this stuff seriously and rightly so
obviously the privacy concerns in the
space are warranted and obviously
consensus which owns metamask is
responding in suit so I’m going to toss
this to Jen for her initial thoughts
metamask kind of walking back what had
been out there and caused caused a bit
of a fuss what are you thinking on this
one
yeah so you know with the FTX story we
spoke a lot about journalists and their
role in holding companies accountable on
behalf of the public this story showed
me that the public can still hold
companies accountable and customers
still have a voice and so if you read
terms and conditions and there are
things in the terms and conditions that
you don’t agree with or that don’t align
with what that company is saying
publicly with what that company is
saying their mission and values are if
you vocalize that
there is action that can be taken and so
that’s what the story showed me I think
that consensus responded really well
there was a quote in the article that
said You Know by being increasingly
clear about exactly how data was managed
by various consensus products there was
some valid critiques and concerns raised
especially by people who ultimately have
the highest privacy standards I think
they did a great job of communicating
they are taking
um recourse on what their consumers have
said and so I think that this whole
thing has been handled really well and
it was so nice to see Wendy
I’m excited to see that they’re kind of
changing their terms of services but I
still don’t completely trust metamask
and no I’m not trying to be a Negative
Nancy on the show I just have a big
problem with like third parties dealing
with my crypto stuff I like my privacy
yes I pay my crypto taxes I don’t like
to do it but I do I’m not trying to hide
anything from anyone I just like to have
privacy it’s a good thing however I will
say just because they’re coming out and
saying they’re changing their terms of
services I would still be very weary
again we saw PayPal come out and change
um require they were going to do that up
to 22 500 fine for posting
misinformation on the internet
um I did a help lead a PayPal chart or
cancel PayPal charge um and they went me
and a bunch of other people it ended up
working because the company backtracked
on it and retracted it but then it came
out a couple days later
um in the media that they weren’t
actually backtracking and that is still
indicated in their terms of services so
just because metamask is coming out now
today saying hey we’re going to change
this do whatever I would still read the
terms of services and I would still say
a very diligent on this
okay I’m taking the tinfoil hat from
Wendy and putting it on and I’m taking a
crown complete opposite approach on this
story they have been logging IPS since
2018 people have not called them out on
it and they’re saying that they’re
changing their terms and services but if
you look at the article here they’re not
changing it that much if you’re sending
a transaction on metamask they are still
going to log your IP address okay just
because they change a little bit so if
you only have a read account they’re not
going to log your IP that’s nice but it
still doesn’t change anything because
most people are using metamask to send
transactions so they’re still logging
your IP information I think Jen the
reason that they respond with all this
PR flare is because they had to there’s
so many alternatives to metamask and
there’s so many Alternatives and fewer
these days they have to answer to the
people and answer to the critics out
there so this to me is just like another
frustration and just another stamping of
the boot on top of privacy focused
people I think this is why everyone
needs to go run a node and I do think a
lot of people at metamask or at inferior
would tell you the same thing I think
the reason they have to do this is
because Regulators are coming for them
consensus inferior metamask these are
all very large brands people know about
them I’m sure they’re very expensive
lawyers and retainer who are asking them
to file these IP logs that’s the reason
that’s in the terms and services that’s
the reason it’s actually happening
because Regulators want this to occur so
I think if you go and talk to anyone Dan
Finley at metamask or someone else in
the inferior team they tell you to go
run your own node because anything with
privacy is not going to happen with
inferior or metamask they’re going to do
what they can but at the end of the day
they have to answer to Regulators Zach
to you all right well they also answered
to the angry mob and I I will give him
credit here that what they’re doing is
they are providing advanced settings to
make it easier to use non-infura RPC
Service as well so they can make it so
that you’re able to sort of toggle on
and off whether or not these IP
addresses are going to be shared between
your metamask and your inferior if it’s
something that you don’t like they’re
going to make it easier for you to opt
out of it and I think like the
optionality right kind of goes back to
what we were just talking about before
you can do crypto through the big Banks
or you can do crypto self-custodially
right there’s an entire plethora of
options that exist in between and on
that spectrum and I think that’s what
this is that’s why this is good right
this is providing another option for
folks who are significantly concerned
about this when they’re using their
metamask they don’t want any uh any any
data being shared between uh holding on
consensus Services right so I think to
their credit they’re providing the
option of people who are especially
mindful about this stuff uh while also
responding to some of the concerns that
had been brought up and I think you know
they’re not shying away from the fact
that they’ve responded that they’re
responding to the the backlash right you
know Joe Lubin is out talking to Fortune
saying we’ve accelerated our efforts
based on the intensity of this recent
debate right so I think to Jen’s point
it is good that they are hearing that
and making some adjustments will your
point is fair I guess I would just shout
out that by making the advanced settings
more available to people it’s giving
them the ability to escape some of the
stuff should they so choose so anyway
can’t we all just get along maybe not
ConsenSys, the company behind the MetaMask crypto wallet, said Tuesday it will release a series of updates to the platform in response to user backlash regarding its data-collection practices. “The Hash” team discusses the implications for privacy in crypto.