Tag Archives: Facebook

Facebook shook the world last year after announcing plans to introduce a “single global digital currency” dubbed Libra. However, the social media giant’s efforts were quickly scalded by global regulators as the project received massive blowback.Facebook didn’t give up on its idea. Instead, the company decided to rebrand its two main products. Firstly, the Calibra wallet became Novi, and today, Reuters reported that the Libra name had been changed to Diem (meaning ‘day’ in Latin.) Stuart...

Facebook’s new cryptocurrency and digital payment system, Libra, could be ready for release early as January of next year.Libra Is Potentially Ready for a RolloutThe news surrounding the release of Libra has been circulating throughout crypto newsrooms for more than a year and a half. Since June of 2019, the currency has been permeating analysts’ minds. They have wondered many questions, a big one being “What would Facebook gain from cryptocurrency?”The project has puzzled many people....

Although Facebook failed to launch Libra in mid-2020 as initially planned, the social media giant could do so in early 2021.Finance Times cited three people working on the project claiming that Libra’s long-awaited launch could come in January 2021 but in a scaled-down version.CryptoPotato reported before that Libra already changed its original idea from being a “single global digital currency” to creating a series of various digital coins. The FT coverage asserted that Libra could see the...

Bitcoin is censorship-resistant… The hashtag #Bitcoin is not. Over the past days, Facebook has been busy censoring all posts that include the #Bitcoin hashtag in the description. There are no distinctions: Videos, photographs, and even messages have been censored, blocking the public from accessing any information related to the cryptocurrency. Upon entering the hashtag, users in different parts of the world are confronted with a censorship screen in which Facebook ensures...

PayPal’s decision to enable its users to interact with cryptocurrencies directly on its platform continues to attract popular individuals’ attention. The latest to acknowledge the significance of this move were the Head of Facebook Financial, David Marcus, and Social Capital CEO Chamath Palihapitiya. Banks Will Follow PayPal, Says Marcus Arguably the most significant piece of news recently came last week when the giant online payment processor PayPal announced it will soon...

Facebook-backed Libra has issued another “major” announcement. It is bringing former HSBC executive Ian Jenkins on board to serve as the new chief financial officer of a division in the company designed to manage the Libra payment system.Libra Brings Ian Jenkins AboardJenkins initially served as a former business finance head and general group manager for HSBC. He also has experience working with other major financial institutions such as Santander and Credit Suisse.The big question following...

When it comes to Facebook, bitcoin and Tesla, the three entities all seem to share a connection of sorts. Bitcoin is the primary cryptocurrency created in 2008. It has led to the creation of other digital currencies such as Ethereum, Ripple and EOS to name a few.Facebook and Tesla and BTC: What Connects Them?When it comes to Facebook and bitcoin and the relationship that those two entities share, Facebook has clearly been inspired by bitcoin and the crypto space to create its own digital...

Facebook’s Libra company – the cryptocurrency that will allegedly serve as a global currency everyone can use in the coming future – has appointed James Emmett, the former HSBC European head, to an executive position within its infrastructure.Libra Chooses James Emmett of HSBC FameAccording to reports, Emmett will develop and operate the payment system associated with Libra, which goes by the name of the Calibra wallet. Emmett’s appointment marks the latest in a string of several high-profile...

Seven US-based giant companies, namely Facebook Inc, Apple Inc, Amazon.com Inc, Microsoft Corp, Alphabet Inc, Tesla Inc, and Salesforce.com Inc, gained nearly $300 billion in total market cap during yesterday’s trading session on Wall Street.This only goes to show how small the digital asset field is compared to the giants, as their one-day combined gains represent almost the entire crypto market cap.$282B Gained In A Day By 7 US CompaniesGreen dominated most tech-oriented stocks on Wall...

A recent report informs that Singapore has developed a fully functional blockchain-based payment network allowing faster and cheaper international settlements. The team behind it, including investment giant Temasek and US multinational bank JP Morgan, is finalizing technical details for the prototype, and the final product should arrive soon.Singapore Taps Blockchain For A Payment NetworkAccording to the report from Reuters, local authorities announced earlier today that the platform, called...