Dimitar Dekov: Facebook grew too fast for the legislation to catch up

Dimitar Dekov: Facebook grew too fast for the legislation to catch up

By Severina Yordanova

December 19, 2023

A TV interview with the B EYE founder on Bulgaria ON AIR

Facebook, like many other innovations, evolved too quickly for the regulatory authorities to come up with the proper legislation. This is the opinion of Dimitar Dekov, founder of B EYE, which he expressed in the TV studio of “Bulgaria ON AIR “.

The reason for his words is the data privacy scandal with the social network, as it turned out that a data mining company called Cambridge Analytica which worked on President Trump’s campaign had obtained data on more than 50 million users by exploiting certain loopholes in Facebook’s API available at that time. Doubts are that the data collected without the users’ consent was used in targeting voters. So far in the aftermath of the scandal, Facebook has lost more than $100 Billion in market cap.

Dekov explained that a data leak like this was possible due to the lack of proper legislation and oversight, and both legislators and the social network company are already working on addressing the issue.

“Now with the GDPR the European Union is doing a very good first step,” said the IT specialist on Bulgaria ON AIR.

Dekov made the point that in certain aspects Facebook has probably grown too big too quickly and it is now hard to even for the company’s own management to provide proper governance on all matters of data security, user privacy and the different cases of abuse we have been seeing lately.

“My advice to everyone is to get familiar with the privacy settings of all the social networks they are using. People should be revisiting these settings from time to time because social networks and technologies are evolving with an ever-increasing pace” said Dimitar Dekov in the studio of Bulgaria ON AIR.