UPDATE: The Meta-linked Diem Association has confirmed the sale of its assets to Silvergate, the crypto-aligned banking institute. This effective…
Browsing: Libra
WhatsApp has started its trial of a feature that lets users send and receive funds within a chat, but not…
In ordinary circumstances we trust Facebook with our data about as much as we trust a fart during a bout…
Facebook, the largest social network in the world, stunned the world earlier this year with the announcement of its own cryptocurrency, Libra. The launch has raised questions about the difference between Libra and existing cryptocurrencies, as well as the implications of private companies competing with sovereign countries in issuing currencies.
During hearings into Facebook’s new Libra cryptocurrency, she grilled David Marcus, the head of its Calibra wallet, which is how its users will interact with Libra. “So, we are discussing a currency controlled by an undemocratically selected coalition of largely massive corporations. Do you believe currency is a public good?”
It’s more likely that blockchain, and even Libra, is a means to a end; Calibra is about Facebook wanting to be not only the world’s biggest social media platform but also the globe’s go-to marketplace, putting Amazon, eBay, Apple and Google in the shade.
Let’s go back to the basics and look at what Libra is, how it compares to other cryptocurrencies and whether you should be concerned about using it when it eventually arrives.
Facebook’s Libra cryptocurrency has taken a lot of criticism from Western government officials and media commentators – but it’s not meant for them. A major target market for the Libra is users in developing countries.
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