Tag Archives: Facebook

Facebook has faced a maelstrom of criticism ever since it announced the Libra cryptocurrency. Lawmakers and bankers have been quite vocal in their negative views towards the developing stablecoin. However, it seems that Facebook is not waiting for Libra to launch a global payment platform as they have now introduced Facebook Pay.Cross-Platform PaymentsFacebook Pay is not a virtual currency. It is a payment system that uses credit cards, debit cards, and PayPal as options.Users can use...

Antivirus mogul John McAfee – who has repeatedly touted bitcoin, saying it will reach $1 million by the year 2020 – has a few harsh words for Libra.McAfee: Libra Is the Opposite of CryptoThe Facebook cryptocurrency appears to be getting on everybody’s nerves lately. Members of Congress have repeatedly taken aim at the project, saying that it could potentially open the door to money laundering and other malicious activity. They are also unclear as to how (or whether) Libra could potentially...

Libra just can’t seem to catch a break. Following months of haggling by U.S. lawmakers and European officials, a Romanian bank chief is adding his negative opinions to the mix, saying that Libra is “dangerous” and likely to do irreparable damage to the global financial infrastructure.Libra Is Getting Hit from All SidesDaniel Daianu, president of Romania’s Fiscal Council, says that if Libra ever does reach full potential, banks are likely to disintegrate overnight. He states:Cryptocurrencies...

E-commerce retailing giant Amazon is planning to expand its reach in the food industry and open a new brand of grocery store. As CNET has reported, a new grocery store will be opened in Woodland Hills, California, in 2020.Amazon spokesperson said:“Amazon is opening a grocery store in Woodland Hills in 2020.”When asked about Whole Foods acquired by Amazon for $13.7 billion in 2017, the company has stated it is going to make a new brand totally different from this network and Amazon Go...

Photo: Acumen_ / FlickrIn recent weeks, China appears to be retracting its hard stand against crypto activities within its jurisdiction. Notably, even President Xi Jinping encouraged Chinese investors to take up blockchain and crypto activities in an attempt to diversify the Asian economy.These developments have made billionaire Michael Novogratz warn that the United State’s reserve status might soon be undermined by the Chinese revolution. In his statement, he insists that China is already...

After dominating its smartphone industry with its iPhone for a decade, tech giant Apple is exploring a new product line for the next phase of the technological revolution. Over the last decade, Apple scaled tremendous heights with billion-dollar sales of its iPhone flagship handsets. Earlier this year, the Cupertino-based tech giant also became the first company to touch a trillion-dollar valuation.Known for getting breakthrough innovation in the tech space, people have been eagerly waiting...

Facebook’s cryptocurrency project, Libra, could be used to build on top of central bank digital currencies. That’s what the venture’s co-creator and head economist reiterated today at a FinTech conference in Singapore. Interestingly enough, the statement also comes at times when a few countries are contemplating the launch of their own state-backed digital currencies.Libra Improving State-Backed Digital CurrenciesChristian Catalini, Libra’s co-creator and head economist of Calibra, spoke in...

Facebook’s Libra cryptocurrency has been slated for a 2020 release, but according to top executive Kevin Weil, it will be decades before the currency is fully ready.Libra May Take Longer – Much Longer – Than Originally ThoughtAs vice president of product at Facebook’s Calibra digital wallet unit, Weil explained that while the currency itself may be ready relatively soon, the wallet system that’s backing it up will take much longer. He comments that the system is quite complicated, and...

In what seems to be both a conflict-of-interest and also an effort to promote his cryptocurrency, the head of cryptocurrency projects at Facebook David Marcus has given bullish indications as to where Bitcoin is going. He also indicated that Bitcoin doesn’t fit into the cryptocurrency asset class as well giving his bias for the Libra cryptocurrency. David made this known at the recent New York Times DealBook conference last week. He also said that Bitcoin has more qualities as an asset than...

Financial regulators in Australia are looking to put more pressure on Libra.Libra Is Getting Reamed… AgainA new report suggests that Facebook and Libra executives failed to follow proper Australian protocols. This is raising concerns with members of the Australian government, who are now looking to learn all they can before the currency is set to debut in 2020.Facebook’s Libra has had a rocky history. The coin was first introduced back in June of 2019 to rather lackluster reception. The...