Note to readers: I’m writing a series about iBeacon. This is the fifth installment in the series, explaining how privacy issues are addressed with iBeacon.
Any time your phone starts interacting with remote services, there is naturally a question about privacy. The technology of iBeacons has some natural features that help protect privacy. iBeacons are transmit-only 
devices, so an iBeacon cannot easily learn about nearby devices or enable receivers to learn about other nearby devices. An iBeacon does not learn that you are nearby (unlike network technologies that have bi-directional communications).
In the case of iBeacons, the one-way protocol does not allow an iBeacon to learn about you. Privacy in iBeacons is implemented at the receiver – that is, by the application running on the device, where the user has full control and can opt-in or opt-out.
On iOS devices, iBeacon information is only accessible if a user enables location services. Don’t want an application to know where you are? Don’t let it access location services.
Due to the importance of applications, mobile ecosystems like iOS have an important role in advocating for end users. Many users lack the time and technical expertise to deeply understand the technology. As iBeacons evolve, the underlying application ecosystem will need to meet user demands for increased disclosure about how location information is used (and perhaps stored), and app store approval processes can be used to prevent unacceptable privacy practices.
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Read more on iBeacons
iBeacon Part 1: What the heck is it?
iBeacon Part 2: How does it work?
iBeacon Part 3: You need an app
iPhone 6 + iBeacons + Wi-Fi: In-store shopping ups its game
iBeacon + Wi-Fi: Finally, "opting in" can be a win-win