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…
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…
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…
The global economy is estimated to drop by 3% this year, before rebounding by 5.8% in 2021, the International Monetary Fund (IMF) said today, stressing that “this crisis is like no other”. In the past 60 years, the global economy decreased only once. In 2009, when Bitcoin started its journey, the global Read more…
Currency happens to be the lifeblood of the global economic system. It is the pivot around which wheels of economic activities spin; however, with the emergence of the capitalist economy, the money power tends to be possessed only by a few ones. The inequality in the distribution of wealth is Read more…
The latest industry report coming from The Information states that Facebook is reportedly tweaking its Libra Project that aimed at getting its native cryptocurrency Libra in the global financial system. People familiar with the matter told that Facebook is no longer willing to launch its Libra token in the market. Instead the Libra platform Read more…
Mastercard’s CEO ditched Facebook’s Libra because of his concerns about compliance, monetization, and the social-media titan’s plan to insert itself into transactions, he recently told the Financial Times. Ajay Banga signed up Mastercard to support Facebook’s digital currency and network, but dropped out — along with Visa, eBay, PayPal, and other Read more…
It is no more news to the crypto world that the social media giant Facebook is reportedly working on its native cryptocurrency. Besides, during the Facebook developer conference earlier this year, CEO Mark Zuckerberg spoke that payments would be an important part of the company’s future business. According to the Read more…