Facebook has unveiled libra, a cryptocurrency that will enable users to make international payments over Messenger and other group platforms like WhatsApp – perhaps from as soon as 2020.
Facebook has announced a plan to launch a new cryptocurrency named the Libra, adding another layer to its efforts to dominate global communications and business. Backed by huge finance and technology companies including Visa, Spotify, eBay, PayPal and Uber
Social media giant Facebook has finally unveiled its plans to launch a new cryptocurrency called Libra, along with a few big industry partners.
But the big news on Monday was that the Department of Justice was investigating Google and Apple; while the and Federal Trade Commission (FTCO is looking into Facebook and Amazon. All of accused of anticompetitive tactics for promoting their own services over that of rivals.
The more tech companies know about their users, the more effectively they can direct them to goods and services that they are likely to buy. The more companies know about their users, the more competitive they are in the market.
As digital technologies facilitate the growth of both new and incumbent organisations, we have started to see the darker sides of the digital economy unravel. In recent years, many unethical business practices have been exposed, including the capture and use of consumers’ data, anticompetitive activities and covert social experiments. But what do young people who grew up with the internet think ab...[Read More]
The Facebook CEO "controls three core communications platforms… that billions of people use every day" namely Facebook, Instagram and WhatsApp and has control of 60% of the voting stock. "I’m worried that Mark has surrounded himself with a team that reinforces his beliefs instead of challenging them."
Governments and advocates in the U.S. and Europe, as well as elsewhere around the globe, have been pushing Facebook to make the inner workings of its advertising system clearer to the public.