Celsius Network (CEL) Improves Financial Freedom and Good Will with ISO27701
The ISO27701 is now a new reason for the Celsius community to ignore the FUD and to further keep working for the community. There is no reason for the artificial FUD about the processes on Celsius Network. People have been posting fake things about Celsius and many of them have been jumping the Bandwagon.
A Twitter Testimonial: “Seeing a lot of coordinated attacks on Celsius Network and Mashinsky right now! Crypto twitter is seriously a toxic pit right now. One thing I know is that Celsius has paid me every Monday without fail since 2018! Great company.”
Alex Mashinsky: “Exciting news about your privacy and security: Celsius Network has received our ISO certification for ISO27701.”
What Does ISO27701 Stand For? ISO 27701 also known as PIMS (Privacy Information Management System) outlines a framework: 1. Personally Identifiable Information (PII). 2. PII Controllers. 3. PII Processors to manage data privacy.
Privacy information management systems are sometimes referred to as personal information management systems.
What has ISO27701 to do with Information Security? ISO27701 extends the meaning of “information security” detailed in ISO 27001. The privacy and protection of personal data is part of ISO 27001. The newer standard extends the scope to include the “protection of privacy as potentially affected by the processing of PII.”
Personally Identifiable Information: “PII is information which identifies, relates to, describes, references or is capable of being associated with, or could be reasonably linked – directly or indirectly – with a particular individual consumer or device. Examples include name, address, date of birth, race, citizenship, employment status, non-public education information protected under the Family Educational Rights and Privacy Act, and product purchase histories.”
PII Controller: The PII controller is the entity that identifies the purpose and means for processing PII. Defines why and how PII is processed. And, they are further responsible for the implementation of privacy and security protocols to meet applicable legal standards.
PII Processor: The PII processor processes PII on behalf of and in accordance with the instructions and privacy controls set by the PII controller.
Who needs ISO27701? ISO 27701 is for private, public companies and even government agencies that need to take a risk-based approach to holding and processing personal information.
ISO27701 provides for an international approach to privacy protection as a component of information security.
One of the satisfied customer testimonial read: “Why so much FUD thrown at Mashinsky and Celsius Network lately? Coming up on 4 years as a highly satisfied customer. Service outstanding, weekly rewards always on time, and I couldn’t be happier. I’ve met a lot of the team and they’re great and committed to the mission. Unbank yourself.”
Several Celsiuns have been concerned with all of the FUD lately. They felt that it’s not right when Bitcoiners go after exchanges for using the asset. They feel it is a waste of energy and time for everyone.
There was lot of frustration about only accredited investors making a percentage. Long-time users were left wondering why all the changes about regular users. The reality is that in the current market everyone is being shamed on purpose without valid reasons. And, several influencers acknowledge it.
What caused the recent change in earning rewards?
- On April 15, 2022, a new custody solution for US customers was launched.
- Coins posted as collateral before April 15, 2022, provided the loans were repaid, were returned to their Earn accounts. For as long as these coins were in the Earn accounts they were allowed to earn rewards.
- There came in to play expressions like non-accredited CEL investors and accredited CEL investors.
- Users who were located outside the US were not affected as much.
- Thus, only verified accredited investors in the United States were able to add new coins into their Earn accounts, where they continue to earn rewards.
- Thus, all the frustration after April 15, 2022, were for US-based non-accredited investors.
- Being non-accredited did not allow US investors to earn yields after April 15, 2022.
All of these changes had to be made to work in compliance with the United States Regulation. The need for the launch of the new custody solution has been clearly explained – but still some investors don’t seem to get the point.
Celsius never stops to advocate financial freedom. All these changes had to be made to ensure that regulators do not interfere with Celsius Network’s capability to deliver their services to investors.
Alex Mashinsky is doing all in his might to propel financial freedom by coming up with associated certifications like ISO27701 to further improve and add to the Good Will of the Celsius Network.
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