Libra coin of
Intereconomics on Twitter. A service of the ZBW. Libra — a global virtual currency project initiated by Facebook — has been the subject of many controversial discussions since its announcement in June This paper provides a differentiated view on Libra, recognising that different development scenarios of Libra are conceivable.
We are searching data for your request:
Upon completion, a link will appear to access the found materials.
- Libra: The future of money?
- Facebook’s ‘cryptocurrency’ Libra has nothing to do with Bitcoin
- Facebook’s crypto launch is just months away
- The Libra cryptocurrency – a simple explanation
- France, Germany reject Facebook's libra cryptocurrency
- Can Facebook-Led Libra, Now Named Diem, Seize the Day When Its Crypto Coin Debuts?
Libra: The future of money?
Thanks for contacting us. We've received your submission. The original plan was for Libra, which was unveiled last June, to be backed by a wide mixture of currencies and government debt. Libra, which had planned to launch by the end of June, now aims to do so between mid-November and the end of the year, Dante Disparte, its head of policy and communications, said. Until the advent of Libra, these had been a niche aspect of cryptocurrencies and barely featured on the regulatory radar.
Bitcoin, the biggest digital currency, is little-used in payments or commerce, in part because of its extreme volatility, and remains largely unregulated. Libra said it will now offer stablecoins based on a still-undecided line-up of individual currencies.
It cited stablecoins based on the dollar, euro and sterling as possible examples. Another change is that Libra plans to strengthen safeguards on money laundering or terrorist financing.
Central banks have accelerated their research on issuing their own digital currencies, known as CBDCs, in response to Libra, with China closest to launching one as issuance by Western central banks remains a distant prospect. April 16, pm. Getty Images. Shutterstock Bitcoin, the biggest digital currency, is little-used in payments or commerce, in part because of its extreme volatility, and remains largely unregulated.
Share This Article. Post was not sent - check your email addresses! Sorry, your blog cannot share posts by email.
Facebook’s ‘cryptocurrency’ Libra has nothing to do with Bitcoin
Bitcoin hit a month high on Monday after jumping more than 10 percent over the weekend, with analysts ascribing the spike to growing optimism over the adoption of cryptocurrencies after Facebook unveiled its Libra digital coin. Facebook said last week it planned to launch a new cryptocurrency called Libra, though the announcement immediately led to questions from regulators and politicians across the world. Mati Greenspan, an analyst at eToro, said bitcoin's gains underscored growing optimism among retail investors that Facebook's plans were part of a wider trend of major companies adopting cryptocurrencies. Other traders cited geopolitical factors from tensions in the Gulf region to the U. Some investors have looked to bitcoin and other cryptocurrencies as a hedge against possible declines in domestic currencies, traders said.
Facebook’s crypto launch is just months away
David Marcus, who leads the Libra initiative at Facebook, is having to temper expectations of the project. Facebook's Libra project started out as an ambitious plan to create a global cryptocurrency, but new reports suggest the company is scaling back its vision after facing scrutiny from regulators and losing a slew of initial partners. The details are still a little murky. But The Information and Bloomberg both report that Facebook's Calibra wallet, initially unveiled as a way to deploy a Libra token backed by nonprofit consortium led by Facebook, would now also include the option to use traditional currencies — so-called stablecoins, that are pegged to the values of things like the euro and the dollar. That would put it closer to existing digital payment offerings, like Venmo, than a direct challenge to existing financial systems. The Information also reports that the Calibra wallet system may not launch globally, but instead be limited to markets with restrictions related to financial regulations — a significant departure from the original vision. Ultimately, this shift shouldn't come as much of a surprise to close watchers of the space.
The Libra cryptocurrency – a simple explanation
The launch of the Diem stablecoin, expected in the next six months, will apply pressure on global central banks to issue digital currencies of their own, as the coin originally proposed by Facebook two years ago forces changes to the global banking system. Originally known as Libra, the cryptocurrency was to be pegged to a basket of global currencies and sovereign debt and based in Switzerland. But for the past two years, the project has quietly been reshaped to make it more appealing to regulators in the United States. A stablecoin is a type of cryptocurrency whose value is tied to an outside asset, such as the US dollar or gold, to stabilise the price.
France, Germany reject Facebook's libra cryptocurrency
Bitcoin is a 'cryptocurrency' — a decentralised tradeable digital asset. Invented in , you store your bitcoins in a digital wallet, and transactions are stored in a public ledger known as the bitcoin blockchain, which prevents the digital currency being double-spent. Cryptocurrencies can be used to send transactions between two parties via the use of private and public keys. These transfers can be done with minimal processing cost, allowing users to avoid the fees charged by traditional financial institutions - as well as the oversight and regulation that entails. The lack of any central authority oversight is one of the attractions. This means it has attracted a range of backers, from libertarian monetarists who enjoy the idea of a currency with no inflation and no central bank, to drug dealers who like the fact that it is hard but not impossible to trace a bitcoin transaction back to a physical person.
Can Facebook-Led Libra, Now Named Diem, Seize the Day When Its Crypto Coin Debuts?
Facebook's new Libra cryptocurrency is set to help the 'unbanked' of the world, whether they want it or not. Follow all the latest news from Beijing in our rolling Winter Olympics coverage. Helping people with no bank account may be a laudable goal for Facebook's cryptocurrency, but critics fear it could destabilise emerging economies. When Facebook announced the Libra network last week, it led with a message of financial inclusion. This article contains content that is no longer available. They wanted to "address the anomaly A situation he believes could be solved, in part, by Libra — a global digital currency that users could send using an online wallet ostensibly as easily as they send a text message. But where do the "unbanked" live?
The Libra Association put together by Facebook last year is rebranding in further efforts to distance itself from the original Facebook-led vision rolled out last year. The organization has also finalized its leadership team, which includes Dahlia Malkhi as chief technology officer, Christy Clark as chief of staff, Steve Bunnell as chief legal officer and Kiran Raj as executive vice president for growth and innovation and deputy general counsel. Social media giant Facebook unveiled Libra in June after over a year of secretive development and research work. At the time, the project envisioned a stablecoin backed by a basket of fiat currencies, one that could be used worldwide as a means of exchange. It immediately prompted international regulatory backlash, with lawmakers demanding that all development cease until they could better understand it, provide some level of regulatory oversight and ensure there were no risks to financial stability. A number of its original members departed, mainly financial services firms citing regulatory risks, before Libra could even get started.
Last week, Facebook announced that it will be revolutionising the way people make payments over the internet with Libra Coin — sending the entire tech world into a frenzy. But since the concept of blockchain technology surfaced, there has been speculation this mysterious technology would eventually replace more dated methods of payment with cheap, seamless processes. While many businesses are already using this technology, crypto is yet to become a mainstream method of payment. The various cryptocurrencies Bitcoin, Ethereum, Litecoin and so on are essentially digital assets that people have developed, which have generated significant value over time. While the blockchain is known for its use in financial transactions made over the internet in other words, fintech , its use casts a wide net across many other industries and has been used in both the public and private sectors. Notorious for its volatility and technological complexity, the crypto and blockchain space has always been somewhat of a question mark for the average layperson. Libra is being developed so people can transfer money over the internet in a simple, powerful and non-expensive manner.
Home Libra Cryptocurrency. Libra Cryptocurrency. Marcus, the leader of Facebook's "F2" financial division and the co-creator of its Diem digital currency project, is stepping down.