Judging loans based on Facebook data
jeudi 1 octobre 2015 à 02:00Would it be legal for a bank to deny a loan based on Facebook data about you?
The article suffers from the common confusion between inventions and patents. The method of judging loans based on a person's Facebook data is an invention. The patent is a government-created monopoly that might stop or hinder some companies from using the invention. Patents on business practices are really a form of computational idea patent, so they should not be allowed.
But that is a separate issue from the issue raised by the proposed method. Innovations can be good or bad.
What worries me most about this proposed method is that it might pressure people to be used by Facebook.