Tagged: facebook

July 5, 2019 @ 3:11 pm By Cali Haan  |  

David Marcus, the CEO presiding over Facebook’s recently announced Libra cryptocurrency project, has issued a blog post on Facebook to address controversy roiling since the project was announced two weeks ago. Regulators around the world have been issuing stern warnings about how Facebook’s Libra payment… Read More

July 4, 2019 @ 6:59 am By JD Alois  |  

Facebook’s public announcement regarding the forthcoming launch of the Libra cryptocurrency along with a smart contract ecosystem has engendered a good amount of commentary both positive and negative. Public officials are still trying to get their arms around what Libra means for fiat currencies and… Read More

July 4, 2019 @ 1:13 am By Cali Haan  |  

Officials at the Bank of Japan, Japan’s central bank, are reportedly concerned that Facebook’s new “difficult to regulate” cryptocurrency could have a calamitous effect on global financial systems, all while exploiting those very systems without paying the costs, Nikkei Asian Review (NAR) reports. Legislators in… Read More

July 3, 2019 @ 9:04 pm By Cali Haan  |  

Five US House Representatives have submitted a letter to Facebook asking the company to, “immediately agree to a moratorium on any movement forward on Libra- its proposed cryptocurrency and Calibra- its proposed digital wallet.” The letter was forwarded by the powerful House Financial Services Committee… Read More

July 3, 2019 @ 4:29 am By Cali Haan  |  

Bitcoin’s recent diagonal tear to $13K USD has now relented as the currency’s price has settled back down to around $10k, and as the froth clears, information from two polls shows that the general public may be feeling tepid about Facebook’s proposed new cryptocurrency. Some… Read More

July 2, 2019 @ 2:52 pm By JD Alois  |  

In a speech presented today by Christopher Woolard, Executive Director of Strategy and Competition at the UK Financial Conduct Authority (FCA), the regulator addressed the hot topic of “stablecoins.” The speech was delivered at the annual Cambridge Centre for Alternative Finance conference which saw regulators… Read More

July 1, 2019 @ 3:40 am By Cali Haan  |  

A crypto scam featuring the image of the Sheikh Mohamed bin Zayed, Crown Prince of Abu Dhabi, has been circulating on Facebook and may have conned thousands of people, local news outlet The National reports: “The fake news story scattered legitimate information, including factual details… Read More

June 29, 2019 @ 8:40 am By Cali Haan  |  

Clone websites designed to capitalize on the hype surrounding Facebook’s recently announced Libra cryptocurrency (not due for release until 2020) and divert investor funds to scammers are already cropping up across the net, cybersecurity firm Digital Shadows (DS) reports in a recent block post. The… Read More

June 28, 2019 @ 9:58 am By JD Alois  |  

Facebook’s Libra coin, a stablecoin crypto, may eventually falter and fail. It will take some time for Libra to get its digital sea legs or not. But whether or not you are a Libra fan or detractor, old finance is standing up and taking notice…. Read More

June 28, 2019 @ 8:39 am By Cali Haan  |  

Etienne Goosse, director general of the European Payments Council (EPC), has told Reuters that Facebook’s new cryptographic payments program, Libra, is forcing banks in the Eurozone to rapidly develop an instant payments network for banks in the zone. The EPCs goal is to help harmonize… Read More

June 26, 2019 @ 1:23 am By Cali Haan  |  

There has been much trepidatious commentary issued since Facebook announced its Libra Coin cryptocurrency venture last week. Politicians have warned that Libra, a payment system purportedly intended to help bank the unbanked and grant them access to low-cost remittances (while profiting Facebook), could run afoul of… Read More

June 25, 2019 @ 10:09 pm By Cali Haan  |  

Patrick Gaulthier, vice president of Amazon Pay told attendees at Fortune’s Brainstorm Finance 2019 event earlier this month that retail giant has no immediate plans to involve itself with Facebook’s Libra coin venture or start an Amazon crypto. “It’s fresh, it’s speculative,” he said regarding Libra…. Read More

June 25, 2019 @ 7:47 am By Barry James  |  

The world stands at a crucial juncture when new DNA will be created that will form and influence our civilizations for generations to come, determining what our future looks like. The world is now in a position to build global public infrastructure. Who owns this… Read More

June 25, 2019 @ 1:29 am By Cali Haan  |  

Reserve Bank of Australia chief Philip Lowe told participants in a Q&A session June 20th that he does not expect Facebook’s new Libra cryptocurrency network to be fully implemented any time soon. “There’s a lot of water under the bridge before Facebook’s proposal becomes something… Read More

June 24, 2019 @ 9:27 pm By Cali Haan  |  

Last week’s announcement of “Libra,” Facebook’s move into creating a cryptocurrency payments infrastructure to underpin its social network, was met with considerable fanfare and may have induced a rally in the price of Bitcoins. But several pundits on Yahoo have noted that so far, banks… Read More

June 24, 2019 @ 3:34 pm By Cali Haan  |  

Facebook announced it’s forthcoming price-stabilized cryptocurrency, “Libra,” last week, and many politicians across the globe have been sounding the alarm on it. A number of American politicians issued sober warnings regarding the advent of Libra. US Senator Sherrod Brown warned that Facebook’s new payment system would… Read More

June 22, 2019 @ 11:04 am By JD Alois  |  

Hedera Hashgraph, one of several aspiring iterations of blockchain, or distributed ledger technology, designed to address existing shortcomings in DLT 1.0, has paid for a full-page advertisement in the Wall Street Journal mocking Facebook. Last week, Facebook officially launched “Libra” its spin on crypto. The… Read More

June 22, 2019 @ 8:30 am By Cali Haan  |  

Bank of England Governor Mark Carney told colleagues at the Lord Mayor’s Banquet for Bankers and Merchants of London June 20th that DLT (distributed ledger technology, also known as “blockchain”) used for financial settlements could save, “….billions of pounds in capital and liquidity that can be… Read More

June 22, 2019 @ 8:07 am By Cali Haan  |  

Facebook’s new cryptocurrency “stablecoin” network, Libra, will not use the same energy-consumptive system as Bitcoin, but the coin could still lead to a boom in the creation of standard data centres, a sector that already consumes as much power aviation, The Verge reports. This week’s… Read More

June 21, 2019 @ 7:15 am By JD Alois  |  

Facebook’s push into cryptocurrency has engendered an exceptional amount of debate and discussion. Some people think it is great. Others, not so much. It doesn’t help that Facebook is a company that has a penchant for abusing their user data while claiming transparency and actually… Read More