Searching for: "Libra"

Libra is a cryptocurrency developed by Facebook. Libra’s mission is “a simple global currency and financial infrastructure that empowers millions of people”. Libra uses a basket of stable currencies and assets as a reserve. Libra doesn’t challenge the power of money issuance typically owned by the central government, but Libra has the potential to replace money flow services of the current financial system, further reduce the role of banks and other financial institutions in financial services.

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Facebook’s Libra Developers Release Initial Roadmap
The developers behind Facebook’s cryptocurrency project Libra have released their initial roadmap outlining the milestones they plan to achieve prior to the mainnet launch of the Libra blockchain.

Libra Association - Visa and MasterCard Have Second Thoughts
Libra internal struggles. Visa and MasterCard consider leaving.

Facebook’s Libra Likened to 2008 Subprime Mortgage Fiasco
Senator Brown compared Facebook's Libra to the subprime mortgage scenario. His sentiments show the divided debate facing the Libra project.

Shopify Becomes Member of the Libra Association
Canadian-based e-commerce giant Shopify has announced it will become the latest member of the Libra Association's governing council.

"Regulating LIBRA: The Transformative Potential of Facebook’s Cryptocurrency and Possible Regulatory Responses"
This paper addresses how to regulate the first private cryptocurrency – Libra, which have the potential to change the worldwide payment and monetary system landscape. The paper also introduces and analyses the potential response from regulators worldwide on the Libra project.

Libra Coin: A New Era of Denationalization of Money?
A deeper dive in Facebook's Libra coin and its potential impact on dollarization and denationalization of money.

Gemini's Winklevoss Twins Willing to Dive into Facebook's Libra Project
Winklevoss twins, the Gemini Founders have made a revelation about a possible partnership with Facebook on the Libra Project.

Report: Only 2% of Americans Trust Libra
Only 2% of Americans trust Libra, as reported in the survey conducted by CivicScience. The survey was carried out with 1,799 U.S citizens and the findings indicated that there is a lack of trust in Facebook and understanding in cryptocurrencies.

Can Facebook Address Privacy Concerns on Libra?
Can Facebook address privacy concerns on Libra? The Senate Banking Committee will hold a hearing titled “Examining Facebook’s Proposed Digital Currency and Data Privacy Considerations” on 16 July, as reported by MarketWatch on 19 June.

Libra Testnet ‘Going Strong,’ Boasts Over 51000 Transactions and 34 Projects
Regulators may think it’s the work of the devil but Facebook’s crypto project, Libra, has been “going strong.”

Facebook’s Libra Creating Shadow Monetary Ecosystem Warns FAC
Facebook’s creation of cryptocurrency Libra will spawn a ‘shadow banking’ system outside of sanctioned financial markets according to US banks.

Facebook Considers Fiat-pegged Stablecoins for Libra
Despite facing constant criticism, Libra continues to stead on, with consideration of using Fiat – Pegged Stable coins for the project to replace its initial proposal of having a synthetic unit.

Libra Forms Governing Board Despite Shrinking Membership
The Libra Association has reaffirmed its commitment in creating a payments-oriented stablecoin, holding its inaugural meeting yesterday in Geneva, Switzerland.

Vodafone Follows Paypal and Visa to Leave Facebook's Libra Association
Maybe what Facebook is not doing right that costs it to lose founding partners? Breaking news shows that Facebook’s Libra has lost another member of its council. This time round, Vodafone has confirmed to have left Libra Association.

Will Facebook Ever Be Able to Launch Libra?
In recent speculation, Facebook has acknowledged that there are several regulatory issues that are preventing the progress of launching Libra globally.

Libra Networks: Facebook’s Weapon to Launch its Stablecoin?
Facebook recently launched a Fintech firm – Libra Networks LLC in Geneva on 2 May, the filing on the Geneva Commercial Register revealed.

Why Facebook's Libra Is Not A Real Cryptocurrency
Facebook on Tuesday announced its Bitcoin rival called Libra, a cryptocurrency created by a Facebook subsidiary called Calibra that will be managed by an oversight body called the Libra Association. The Libra coin will not be available immediately, as the announcement only covers the vision and technology behind the Facebook blockchain. But the company says Libra will be private, mostly.

Ethereum Co-Founder on Facebook Libra: “A Centralized Wolf in a Decentralized Sheep’s Clothing”
Ethereum co-founder Joseph Lubin is the latest critics on the centralization concern of Facebook’s Libra coin.

Facebook’s Libra Co-Creator Thinks Bitcoin is Not a Currency
Speaking as a guest on CNBC, David Marcus initially talked about Libra setbacks, stating that Libra, Calibra, and Facebook would need time to allow digital money access and services to form for users around the world as well as his thoughts on BTC.

German Policymakers Cannot Accept Facebook’s Libra
The German cabinet is expected to adopt a comprehensive blockchain strategy with the aim of digitally enhancing its economy. The strategy also consists of plans to tackle risky new technologies such as Libra, which German policymakers fear could become an alternative currency.

Facebook’s Libra Encouraged to Exclude the Chinese Yuan Being Tied to the Stablecoin
While Facebook is facing regulatory approvals for its Libra project, Facebook told US senators that the initial group of currencies that Libra will be likely backed by the US dollar, Euro, Yen, British Pound, and the Singapore dollar.

Fed Governor Warns ECB Forum that Libra Risks are Immense
The Governor of the Federal Reserve, Lael Brainard warned a European Central Bank (ECB) forum in Germany, that the risks posed by the potential mainstream adoption of the Facebook proposed stablecoin Libra, are too immense.

Bruno Le Maire Insists He Cannot Support Facebook’s Libra
Since the social media giant, Facebook announced its plan to launch its digital currency known Libra, one critic has repeatedly made his opinion known. Bruno Le Maire cannot and will not support the stablecoin project.

Mastercard CEO Answers: The Reasons Behind Leaving Facebook’s Libra Association
Mastercard’s CEO, Ajay Banga, stated the reasons behind the company leaving Facebook’s Libra Association in an interview with the Financial Times. Having left the Libra Association in October last year alongside Visa and other firms, the Libra Association has seen eight firms quitting the project.

Libra Association Appoints Steering Team to Oversee Its Cryptocurrency Network Development
The Libra Association has appointed a five-member technical steering team to oversee the ongoing development of the Libra project. Late last year, Libra made some important changes, including forming new firms and updating its mission to emphasize on payments instead of currency.