Facebook Launches ThreatExchange: New Social Network Aimed at Improving Cybersecurity

With hackers becoming more and more sophisticated every day, the threat of cyber attacks is becoming an increasing concern for governments and businesses alike.

On Tuesday, the Obama administration announced the formation of a brand new agency that would focus entirely on cybersecurity.

His announcement came less than a week after hackers stole tens of millions of Social Security numbers, birth dates, and other personal information from a database belonging to Anthem Inc., the second largest insurance company in the country.

Facebook is definitely no stranger to hacking attempts itself. In a Telegraph report from back in 2011, Facebook said that hackers were targeting the site around 600,000 times a day; one can only imagine how large that number is today.

With cyber attacks happening more and more frequently, Facebook CEO Mark Zuckerberg has decided to launch a new social network to help companies improve cybersecurity.

ThreatExchange, as the site is called, aims to improve communication between cybersecurity experts and companies by allowing them to quickly alert one another about hacking attempts, computer bugs or other evolving threats.

Screenshot from threatexchange.com

Screenshot from threatexchange.com

Better communication allows companies to be better prepared for cyber attacks, potentially reducing the damage they inflict or preventing them altogether.

According to Facebook, participating companies have full control over what information they want to share, as who they want to share it with.

“This approach makes it easier for an organization that may want to share data that needs to be handled with extra sensitivity. For example, a company might want to share specific information only with another company they know to be experiencing the same attack,”

Facebook said while announcing the launch of ThreatExchange on Wednesday.

The social media giant is still testing out their new site, so as of now it’s invitation-only. Still, ThreatExchange is producing quite a buzz in the tech world, and Facebook has already convinced a number of major internet-based companies to sign on as partners, including Twitter, Dropbox, Pinterest, Tumblr and Yahoo.

Read the original report from the International Business Times.

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