Last year’s backlash against Facebook Inc.’s planned digital currency Libra would have been most CEOs’ worst nightmare. Governments and regulators linked arms to repel a perceived threat to monetary sovereignty, financial stability and data privacy. The more Mark Zuckerberg tried to reassure politicians by talking up financial inclusion and innovation, the more Read more…
According to Down Detector, reports of issues started at around 9am on Thursday. Facebook users reported an issue with logging into the app while 36% of reports suggest a total blackout. Instagram, also owned by Facebook, has seen a huge spike in reports of problems too, both in the UK and Read more…
Facebook’s cryptocurrency Libra, announced in June last year and then delayed after running into a seemingly endless set of obstacles, might finally launch as early as Jan. 2021. This is according to a report by the Financial Times, which cites three unnamed people involved with the project. However, it seems that this new Libra Read more…
Crypto social media platform Minds has been garnering users who are concerned about their privacy, according to the company’s CEO. The open-source platform, seen as an alternative to Facebook or Twitter, awards users with cryptocurrency for engagement. Crypto Social Network Minds Gaining Popularity Privacy-oriented social media platform “Minds,” often touted Read more…
Facebook has launched a prediction market called Forecast. The sector is currently dominated by crypto platforms such as Augur. Forecast will initially focus on predictions about Covid-19. The social media giant has announced the release of its own prediction platform, Facebook Forecast. Launched in Beta this week, Facebook Forecast allows community members to make predictions Read more…
Facebook’s digital currency project is still going ahead but it’s now been blessed with a new name: Novi. The Libra Association, the independent non-profit organisation which oversees and governs the Libra coin, announced the plans to launch its new cryptocurrency last June. The idea was that it could provide a digital payments system in Read more…
Mukesh Ambani’s telecom operator Reliance Jio has bagged a $5.7 billion investment from Facebook. It will boost digital payments in India, and crypto too. Alibaba’s Jack Ma has been knocked off his perch as Asia’s richest person. The new incumbent is India’s Mukesh Ambani, chairman of sprawling oil-to-retail conglomerate Reliance Read more…
The world’s biggest technology behemoths Google, Facebook and Apple need new revenue streams—and fast. The likes of Google, Facebook and Apple have long been eyeing banking and financial services but while they’ve been sitting on the sidelines, bitcoin has gained ground. Google and Facebook’s cash cow, the ad market—if it ever recovers Read more…
Binance Research dove into Libra’s most recent whitepaper, surfacing with a lenghty report, in part claiming Facebook’s proposed asset could significantly alter the payments world. “Libra’s envisioned global payment system could do to the payment industry what SpaceX did to the space industry: shake the foundations of a well-established sector Read more…
In another blow to Facebook’s Libra currency, Representative Sylvia Garcia (D-TX) published a statement in which she rejected the potential for a status change on the Libra coin project. The rejection follows the submission of an updated Whitepaper by Libra developers. The news showcases the distrust many lawmakers still have towards major Read more…