Facebook shares closed lower Thursday, ahead of news Friday that it is participating in a joint Data Transfer Project with Google and Twitter, among other firms. The idea is to make it easier and more secure, for users to transfer their data between different platforms, both online and offline.
Facebook shares ended the Thursday US trading session 0.61% lower at $208.09. The stock, however, is currently in the green in out-of-hours activity.
Facebook and the new data project
Facebook confirmed its participation in the project earlier Friday and said it will help give users even more control over their own, personal data.
The project, which is in the early stages of development, has been described by Google as allowing users to “transfer data directly from one service to another, without needing to download and re-upload it.”
Essentially, the Data Transfer Project is an ongoing collaboration between a variety of firms, including well-known global tech giants, to create a “common framework with open-source code that can connect any two online service providers, enabling a seamless, direct, user-initiated portability of data between the two platforms,” the DTP website explains.
Facebook supports secure data options
Facebook’s Privacy & Public Policy Director, Steve Satterfield, briefly explained what the project is working towards.
“Moving your data between any two services can be complicated because every service is built differently and uses different types of data that may require unique privacy controls and settings,” Satterfield said in a short blog post.
“For example, you might use an app where you share photos publicly, a social networking app where you share updates with friends, and a fitness app for tracking your workouts. People increasingly want to be able to move their data among different kinds of services like these, but they expect that the companies that help them do that will also protect their data,” he added.