by Dylan Denslow, Associate Technology and Public Relations Editor<\/p>\n
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\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 \u00a0\u00a0 Since its launch in September 2011, Snapchat has amassed some 26 million users who together send an average 400 million \u201csnaps\u201d each day.[1]<\/a>\u00a0 To say the app is popular is an understatement.\u00a0 However, Snapchat\u2019s reputation has been primarily as an outlet for teenagers and college students to send scandalous or embarrassing photos of themselves.\u00a0 Recently however, a new app named Confide has taken the idea behind Snapchat, the notion of a disappearing message, and brought it to Wall Street.[2]<\/a>\u00a0\u00a0<\/p>\n <\/p>\n \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Confide is a \u201cnew \u2018off-the-record\u2019 messaging app\u201d that has raised $1.9 million in seed funding, and was initially referred to as \u201cSnapchat for business\u201d.[3]<\/a>\u00a0 Business people commonly run into a situation where they do not want to create a paper trail of emails discussing a particular subject \u2013 instead they prefer to talk over the phone where their discussions aren\u2019t recorded and may not bring about as many legal consequences.\u00a0 Confide is meant to alleviate this situation where phone tag is frequent and an unnecessary impediment to transacting business.[4]<\/a>\u00a0<\/p>\n <\/p>\n \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 On its face, this seems like a great idea that could cure business problems faced on a daily basis.\u00a0 However, the app is ripe for abuse and potentially provides a mechanism by which employees may be able to skirt or break state and federal laws.\u00a0 Insider trading immediately comes to mind. \u00a0For example, an executive with a stock tip could send a message through Confide to an investor knowing that the record of that message would soon disappear.[5]<\/a>\u00a0 The messages sent on Confide are not stored on servers, and the company has put in place protections to avoid users taking screenshots of the messages themselves.[6]<\/a>\u00a0 This seems like a perfect mechanism to help exec\u2019s and employees send messages without worrying about later consequences of their statements.<\/p>\n \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<\/p>\n \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Although geared towards the business world, it is also likely that the app will eventually fall into other hands as well.\u00a0 This in itself creates a number of potential legal issues.\u00a0 For example, imagine a drug dealer with use of the app.\u00a0 No longer is there a record of his texts to buyers, instead his messages are deleted immediately, making it more difficult for law enforcement to connect him with his past activities.\u00a0 Although this violates the terms of Confide\u2019s user agreement, it is unlikely that such an agreement would deter someone already involved with such criminal activity.[7]<\/a><\/p>\n <\/p>\n \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Snapchat has certainly brought value to its users, primarily through its ability to allow them to share fun experiences.\u00a0 However, there have already been allegations that Snapchat is being used for insider trading, even when its reputation typically involves a drunken \u201cselfie\u201d at a bar or college party.[8]<\/a>\u00a0 Now, Confide brings a similar product to market specifically geared at the business community.\u00a0 A user agreement prohibiting illegal activity will not be enough to deter law breaking.\u00a0 As this technology moves into the business arena, messages will have more serious financial effects than the seemingly harmless Snapchats.\u00a0 Lawmakers should be poised to monitor and regulate use of this technology in order to avoid any potentially serious legal issues that may arise.<\/p>\n <\/p>\n [1]<\/a> See<\/i> http:\/\/expandedramblings.com\/index.php\/snapchat-statistics\/#.UvLdyGiPAc4.<\/p>\n<\/div>\n [2]<\/a> See<\/i> http:\/\/www.forbes.com\/sites\/jeffbercovici\/2014\/02\/04\/snapchat-for-business-its-called-confide-and-it-exists-now\/.<\/p>\n<\/div>\n [3]<\/a> Id<\/i>.<\/p>\n<\/div>\n [4]<\/a> Id<\/i>.<\/p>\n<\/div>\n
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