Facebook‘s Libra has been fraught with controversies. From partners withdrawing from the Libra association to Senate hearings on the project, questions like ‘When’s the project launching’, ‘Is it even launching’, ‘Will it really bank the unbanked’, have been left unanswered. In a recent podcast, Joe Lallouz, CEO of Bison Trails and a founding member of Libra […]
The internet has given everyone access to the world’s information, and democratised access to free communications, but money has stayed…
Libra is getting some competition. The Celo Foundation has signed up 50 members to its ‘Alliance for Prosperity’, an effort to use blockchain technology and digital assets to “enable prosperity for everyone”.
One of the less charming aspects of Facebook is its executives’ total inability to read the room. For example, any sensible company under Facebook’s recent level of scrutiny would take the contrite and humble approach — pausing most…
The cryptocurrency project is reportedly lowering its expectations. Now what?
The pressure from the regulator on Facebook’s potential cryptocurrency project Libra has pushed the social media giant to alternate its plans. A recent
Shopify is the newest member of Facebook’s Libra Association. In a press release, Shopify said it is all part of the company’s mission, it said “We spend a lot of our time thinking about how to make commerce better in parts of the world where money and banking could be far better.” Yahoo Finance’s Dan Roberts breaks down the details about this and the overall state of cryptocurrency.
Regulators in the European Union are reportedly struggling to decide how best to regulate Facebook Libra and the wider sector.
‘It went from this altruistic idea into their own wallet,’ says Ajay Banga
Yet another partner of Facebook’s proposed cryptocurrency known as Libra has backed out of the deal. The British telecommunications operator Vodafone announced its departure from Facebook’s Libra Association on Tuesday. In total, eight companies have now backed out of Libra.
Libra could face even more stringent requirements as U.S. lawmakers introduce a bill seeking to classify stablecoins as securities.
The Libra Association released on Friday a developer update, saying that Facebook’s cryptocurrency project has been running for “five months and growing strong.” In a blog post, Libra Association developer Michael Engle said that the Libra testnet has registered more than 51,000 transactions since it was reset in September.
Developers have also developed 34 projects on the testnet, including 10 wallets and 11 blockchain explorers.
The Libra Association has also launched a so-called “pre-mainnet,” which is a replica of the actual mainnet for testing purposes. The update stated that the pre-mainnet now has 7 nodes in operation, with 14 more in process.