They're actually pretty excited about it:I spoke with Ashley Reede, an information systems and privacy consultant, who worked with a private hospital in California as they were onboarding Experian's 'Financial Clearance' system.
And digital payment companies like Paypal or Visa simply want to profit from money transactions and collect as much financial data about consumers as they can.But as our financial behavior becomes more and more transparent, states are also using payment data to find out more about us.
At least 44 US colleges and universities have hired private consulting firms to help them track applicants who visit their websites, Douglas MacMillan and Nick Anderson at The Washington Post recently reported.
Grant West , a 27-year-old resident of Kent, England, targeted several well-known companies around the world since 2015 to obtain the financial data of tens of thousands of customers and then sold that data on underground forums in exchange for Bitcoins or other cryptocurrencies.
Financial Privacy for Businesses Businesses who accept and hold cryptocurrencies can also benefit from using anonymous coins over pseudonymous coins such as bitcoin. Hence, citizens who want to prevent their financial data from being harvested and potentially misused, anonymous digital currencies offer a great alternative to all existing payment methods.