Facebook is determined not to take “no” for an answer when it comes to fintech.
Libra is a global digital cryptocurrency created by the Facebook team and governed by Libra Association, independent, non-profit membership organization. The founding members of the association include Mastercard, PayPal, Visa, Booking Holdings, eBay, Facebook, Uber, Spotify, Vodafone, Coinbase, Xapo, and other well-known companies. Libra blockchain is using the Move programming language and the Byzantine Fault Tolerant (BFT) consensus. Each Libra unit will be provided with several currencies, bank deposits, and securities, which will form the Libra Reserve. This will provide low volatility. However, the token would not be tied with any fiat currency. Users will be able to send coins with Calibra wallet, as a single app or as a built-in extension in WhatsApp and Messenger.
Tech giants face hearing before Congress that will ask whether they violate antitrust and monopoly laws in the U.S.2902
Japan may need to rely on the United States to have some influence over the development of digital currencies.6962
Bitcoin has practically turned into a stablecoin, Dogecoin has experienced a huge resurgence in popularity, and Coinbase might be preparing to list on the stock market.24317
Economic historian Barry Eichengreen believes that stablecoins are either too fragile, or too expensive, to emerge as a dominant monetary form.5679
The Japanese government will appoint Ryozo Himino as the next commissioner of Japan's Financial Services Agency.3856
As banks look to tokenize currency and USDT volume rises, experts see a bright future for stablecoins.2515
The leading global central bank institution has published new research on central bank digital currencies, noting a major shift in their direction thanks to Libra as well as COVID-19.7489
CBDCs promise to speed up existing systems but are unlikely to change the direction central banks have already been taking.2274
China comes up with yet another crypto-related plan to take on the hegemony of the U.S. dollar in international payments.4880
The father of the JOBS Act would be happy to help Telegram with an IPO if the company chooses to revert to a traditional fundraising model.2998
WhatsApp has announced instant in-app fiat payments for over 120 million users in Brazil.9426
Media magnate Steve Forbes has described crypto assets as “a high-tech cry for help” resulting from the failures of contemporary fiat money systems.8669
The Libra Association just filled a key role.4231
Libra Association member Bison Trails aims to offer users the opportunity to participate in the NEAR network.5779