In the wake of the groundbreaking Federal Trade Commission lawsuit against Facebook, The Washington Post is reporting new details of the company’s negotiations with regulators in the run-up to the case, including an unusual offer to license its code and network to competitors.

According to the newspaper reporting, Facebook was willing to significantly alter its business practices in order to avoid litigation, including one measure “allowing another firm or developer to license access to its powerful code — and its users’ intricate web of relationships — so that they could more easily create their own version of a social network.”

Ultimately, the FTC declined Facebook’s offer, filing an antitrust complaint against the company on December 9th. The lawsuit alleges that Facebook used its platform power to stifle competitors, and it seeks to unwind the acquisitions of WhatsApp and Instagram.

 Facebook Inc said on Tuesday it would start allowing users to set up physical security keys as a way to verify their identity before logging into the social network’s mobile app, beginning next year.

The company currently offers an option to require a hardware security key to connect to a desktop computer before each log-in. Users could purchase a hardware key from retailers, and register it with Facebook .

The company said it also plans to expand Facebook Protect -its security program for high-profile accounts including election candidates - to more types of accounts globally next year.

The rollout of new security services follows after Twitter Inc compromised many celebrity accounts, including those of President-elect Joe Biden and Tesla Chief Executive Officer Elon Musk.

Currently available in the United States, Facebook Protect offers a way for politicians, government agencies and election staff to set up additional security provisions such as two-factor authentication and real-time monitoring for potential hacking threats.

It will now be available to users like journalists and human rights activists who are at a higher risk of being targeted by sophisticated hackers, Facebook added.

Source- Reuters

Country- U.S