Episode 207: Zuck Bucks with Colin Fausnaught

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Today’s guest is Colin Fausnaught, the founder of Zuck Bucks. He is a recent graduate of the Rochester Institute of Technology and worked on JP Morgan’s Quorum blockchain for his senior project.

Colin begins by giving an overview of issues that Facebook has come under fire for this year. He believes that political advertising practices on the social network are being taken advantage of by malicious parties. This brings up Facebook’s announcement of their own cryptocurrency, Libra. Colin gives his thoughts on what this cryptocurrency can do for Facebook and why so many large companies are involved. Facebook will have all private keys to Libra wallets, and Colin describes why he finds this so scary. Colin created Zuck Bucks originally as a joke targeting the new Facebook cryptocurrency but now says that it has a great community movement behind it. He does think that a few positive outcomes may happen because of Libra, but affirms that the crypto space will probably be worse off because of the announcement. Some tips are given by Colin about how to protect your privacy while browsing the internet and regarding cryptocurrency.  He also gives advice about starting out with cryptocurrency and discusses various exchanges.

Topics covered:
– How Colin first discovered cryptocurrency.
– Privacy concerns regarding Facebook and its advertising.
– Why Facebook is launching their own cryptocurrency.
– The target market of Libra and why Facebook has chosen this demographic.
– An explanation of private keys and Facebook’s controlling of them.
– How Colin came up with Zuck Bucks.
– The community of Zuck Bucks opposing Facebook and its privacy concerns.
– Potential positives of Facebook’s crypto announcement.
– Mark Zuckerberg’s feud with the Winklevoss twins.
– Serving ads through artificial intelligence.
– Advantages of using a hardware wallet to store cryptocurrency.
– Colin’s recommendations for getting involved with cryptocurrency.

Links to Resources:
Zuck Bucks: https://zuckbucks.cash/
Email Colin: info@zuckbucks.cash
Zuck Bucks on Twitter: https://twitter.com/ZuckbucksToken