Libra

Total 16 Posts

Welcome to the People's Republic of Facebook

Despite Libra currently being on shaky ground after several partners pulled out, Facebook remains on course to become a virtual nation state given not only Libra as a currency, but the company's pursuit to develop an open standard for digital IDs.

Libra is not dead...yet

Major players in global electronic payments are shying away from Libra, spooked by the scrutiny Facebook’s operations are attracting from regulators around the world.

How Libra is different from Bitcoin

Recent revelations about the lack of privacy protections in place at the companies involved in Facebook’s new Libra crytocurrency raise concerns about how much trust users can place in Libra.

Libra loses support as major companies pull out

Probably worrying for Libra is that these withdrawals mean that the Libra Association is now left without any major global payments companies as members, something that could prove to be a hurdle should Libra want to facilitate and process payments from them.

The problem with Libra is Facebook

Governments have long been suspicious of private currencies for good reasons, and Libra is no exception. We must not be distracted by its proposed technical complexity, and instead, focus on how this technology is organised, put to work, and how its rewards are distributed.

China should launch a Libra competitor - Huawei CEO

Ren Zhengfei, CEO of Huawei, says that China can and should launch its own digital currency to rival Facebook's Libra. This of course assumes that Libra will launch as planned in 2020 given the recent pushback from US and European policymakers alike.

European Central Bank worried about Libra

The European Central Bank is worried that Facebook's Libra could offer an alternative financial system to existing ones and as a result, sabotage their monetary policy. They say it is a wake-up call for regulators.