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Will Libra Displace National Currencies? - 0 views

www.bloomberg.com/...cebook-will-make-the-money-now

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shared by John Kiff on 18 Jun 19 - No Cached

John Kiff on 18 Jun 19

If you buy most things online, and if everything online is priced in Libras, then you'll end up living your life denominated in Libras, and only converting your Libras into dollars on your occasional touristic visits to the physical world. The goal is for Libra to be more useful than any national currency, accepted in more places and with fewer complications; pegging it to a single national currency would only hold it back.

<div class="cArrow"> </div><div class="cContentInner">If you buy most things online, and if everything online is priced in Libras, then you'll end up living your life denominated in Libras, and only converting your Libras into dollars on your occasional touristic visits to the physical world. The goal is for Libra to be more useful than any national currency, accepted in more places and with fewer complications; pegging it to a single national currency would only hold it back.</div>

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An in-depth review of Facebook's long-anticipated entry into cryptocurrency - 0 views

info.binance.com/...libra.html

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shared by John Kiff on 18 Jun 19 - No Cached

John Kiff on 18 Jun 19

An in-depth review of Facebook's long-anticipated entry into cryptocurrency

<div class="cArrow"> </div><div class="cContentInner">An in-depth review of Facebook's long-anticipated entry into cryptocurrency</div>

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The (Facebook) Libra Reserve - 0 views

libra.org/...about-currency-reserve

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shared by John Kiff on 18 Jun 19 - No Cached

John Kiff on 18 Jun 19

This document contains several parts: (1) What is the purpose of the reserve? (2) How is it getting set up? (3) How do entities interact with it? And (4) How will it change over time?

<div class="cArrow"> </div><div class="cContentInner">This document contains several parts: (1) What is the purpose of the reserve? (2) How is it getting set up? (3) How do entities interact with it? And (4) How will it change over time?</div>

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UBS introduces smart contracts for structured products - 0 views

www.risk.net/...s-for-some-structured-products

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shared by John Kiff on 18 Jun 19 - No Cached

John Kiff on 18 Jun 19

UBS is spearheading the use of smart contracts for some Asian structured products to reduce manual inputs required for trades, which it believes will save costs and boost profit margins.

<div class="cArrow"> </div><div class="cContentInner">UBS is spearheading the use of smart contracts for some Asian structured products to reduce manual inputs required for trades, which it believes will save costs and boost profit margins.</div>

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What is Libra, Facebook's new digital coin? - 0 views

www.ft.com/...5c-90de-11e9-aea1-2b1d33ac3271

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shared by John Kiff on 18 Jun 19 - No Cached

John Kiff on 18 Jun 19

Facebook has revealed plans for an ambitious new digital currency, Libra, ending months of speculation about the project. The work is in its early stages but Facebook has published documents revealing ideas for the currency and some heavyweight partners. Many of the details will be hashed out in the coming months.

<div class="cArrow"> </div><div class="cContentInner">Facebook has revealed plans for an ambitious new digital currency, Libra, ending months of speculation about the project. The work is in its early stages but Facebook has published documents revealing ideas for the currency and some heavyweight partners. Many of the details will be hashed out in the coming months. </div>

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Facebook announces Libra cryptocurrency with a massive list of partners - 0 views

mashable.com/...facebook-libra

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shared by John Kiff on 18 Jun 19 - No Cached

John Kiff on 18 Jun 19

Signing up for Calibra will require KYC (know your customer) verification, meaning that users will have to upload some sort of government-issued ID before they can start using the service.

<div class="cArrow"> </div><div class="cContentInner">Signing up for Calibra will require KYC (know your customer) verification, meaning that users will have to upload some sort of government-issued ID before they can start using the service. </div>

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Ripple Could Invest Up to $50 Million in MoneyGram in XRP Boosting Deal - 0 views

www.coindesk.com/moneygram-in-xrp-boosting-deal

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shared by John Kiff on 18 Jun 19 - No Cached

John Kiff on 18 Jun 19

Ripple has struck a deal to buy a stake in money transfer giant MoneyGram that will see MoneyGram using XRP as part of its day-to-day operations by way of Ripple's xRapid transaction product. MoneyGram started piloting the token back in January 2018.

<div class="cArrow"> </div><div class="cContentInner">Ripple has struck a deal to buy a stake in money transfer giant MoneyGram that will see MoneyGram using XRP as part of its day-to-day operations by way of Ripple's xRapid transaction product. MoneyGram started piloting the token back in January 2018.</div>

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Facebook's Libra Cryptocurrency: Under The Hood - 0 views

www.forbes.com/...-cryptocurrency-under-the-hood

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shared by John Kiff on 18 Jun 19 - No Cached

John Kiff on 18 Jun 19

From a technical perspective, the consensus mechanism that helps members with different interests come to an agreement uses a modified version of the math behind bitcoin's Byzantine Fault Tolerance (BFT) algorithm, called BFTLibra.

<div class="cArrow"> </div><div class="cContentInner">From a technical perspective, the consensus mechanism that helps members with different interests come to an agreement uses a modified version of the math behind bitcoin's Byzantine Fault Tolerance (BFT) algorithm, called BFTLibra.</div>

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Facebook Unveils New "Currency" - 0 views

www.centralbanking.com/...facebook-unveils-new-currency

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shared by John Kiff on 18 Jun 19 - No Cached

John Kiff on 18 Jun 19

A possible policy impact could come from Libra's use as a safe haven. It may be easier for people to flee to Libra than to dollar assets, which could impact exchange rates worldwide. To the extent Libra attracts depositors away from banks, it could have an impact on banks' access to funding.

<div class="cArrow"> </div><div class="cContentInner">A possible policy impact could come from Libra's use as a safe haven. It may be easier for people to flee to Libra than to dollar assets, which could impact exchange rates worldwide. To the extent Libra attracts depositors away from banks, it could have an impact on banks' access to funding.</div>

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Facebook's GlobalCoin Is No Threat to Bitcoin, But Banks Should Worry - 0 views

tabbforum.com/...bitcoin-but-banks-should-worry

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shared by John Kiff on 18 Jun 19 - No Cached

John Kiff on 18 Jun 19

PayPal, for example, charges a three percent transaction fee, which takes a substantial cut out of businesses and freelancers who use their payment service for the majority of their transactions. Unless PayPal and its peers lower their fees in response to the new competition from Facebook, they could end up losing substantial market share.

<div class="cArrow"> </div><div class="cContentInner">PayPal, for example, charges a three percent transaction fee, which takes a substantial cut out of businesses and freelancers who use their payment service for the majority of their transactions. Unless PayPal and its peers lower their fees in response to the new competition from Facebook, they could end up losing substantial market share.</div>

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Facebook debuts Libra cryptocurrency: a Bitcoin killer? - 0 views

www.zdnet.com/...ryptocurrency-a-bitcoin-killer

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shared by John Kiff on 18 Jun 19 - No Cached

John Kiff on 18 Jun 19

Facebook says that Calibra customers' account information and financial data will not be used to improve ad targeting on the Facebook family of products and only in limited cases will information be shared to reflect our need to keep people safe, comply with the law and provide basic functionality to the people who use Calibra.

<div class="cArrow"> </div><div class="cContentInner">Facebook says that Calibra customers' account information and financial data will not be used to improve ad targeting on the Facebook family of products and only in limited cases will information be shared to reflect our need to keep people safe, comply with the law and provide basic functionality to the people who use Calibra.</div>

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Better Than Bitcoin? Facebook Unveils Libra Cryptocurrency - 0 views

www.bloomberg.com/...k-unveils-libra-cryptocurrency

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shared by John Kiff on 18 Jun 19 - No Cached

John Kiff on 18 Jun 19

U.S. regulations may represent another hurdle for Facebook. The SEC has shut down about a dozen businesses issuing their own tokens for violations of securities law. Facebook has been in contact with the SEC, but it hasn't received a "no-action" letter from the SEC yet. That would have safeguarded the project from regulatory action by the agency.

<div class="cArrow"> </div><div class="cContentInner">U.S. regulations may represent another hurdle for Facebook. The SEC has shut down about a dozen businesses issuing their own tokens for violations of securities law. Facebook has been in contact with the SEC, but it hasn't received a "no-action" letter from the SEC yet. That would have safeguarded the project from regulatory action by the agency.</div>

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Facebook's Libra coin is a symptom of banks' flaws - 0 views

www.ft.com/...68-910b-11e9-aea1-2b1d33ac3271

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shared by John Kiff on 18 Jun 19 - No Cached

John Kiff on 18 Jun 19

A digital challenger with the clout of Big Tech is the stuff of nightmares for the old guard of finance. Facebook says that money transfers with Libra will be fast and cheap. That would undercut banks' transaction fees, especially internationally.

<div class="cArrow"> </div><div class="cContentInner">A digital challenger with the clout of Big Tech is the stuff of nightmares for the old guard of finance. Facebook says that money transfers with Libra will be fast and cheap. That would undercut banks' transaction fees, especially internationally.</div>

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What exactly is Facebook's Libra Reserve? - 0 views

ftalphaville.ft.com/...y-is-Facebook-s-Libra-Reserve-

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shared by John Kiff on 18 Jun 19 - No Cached

John Kiff on 18 Jun 19

Some are comparing Facebook's Libra Reserve scheme to the IMF's Special Drawing Right (SDR) system. This makes sense. It's based on a basket of currencies just like Libra intends to be when it is launched next year. But the truth is Libra is anything but an SDR system.

<div class="cArrow"> </div><div class="cContentInner">Some are comparing Facebook's Libra Reserve scheme to the IMF's Special Drawing Right (SDR) system. This makes sense. It's based on a basket of currencies just like Libra intends to be when it is launched next year. But the truth is Libra is anything but an SDR system.</div>

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Facebook's Libra: blockchain, but without the blocks or chain - 0 views

ftalphaville.ft.com/...ut-without-the-blocks-or-chain

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shared by John Kiff on 18 Jun 19 - No Cached

John Kiff on 18 Jun 19

Talk of decentralised structures is everywhere in the introductory material, but for now the system only aspires to achieve decentralisation at some point in the future. Libra Blockchain will be coming to market in fully permissioned form, effectively centrally controlled by the founder Libra coin holders.

<div class="cArrow"> </div><div class="cContentInner">Talk of decentralised structures is everywhere in the introductory material, but for now the system only aspires to achieve decentralisation at some point in the future. Libra Blockchain will be coming to market in fully permissioned form, effectively centrally controlled by the founder Libra coin holders.</div>

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There's a Second Token: A Breakdown of Facebook's Crypto Economy - 0 views

www.coindesk.com/f-facebooks-blockchain-economy

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shared by John Kiff on 18 Jun 19 - No Cached

John Kiff on 18 Jun 19

In addition to Libra, the project will also issue a "Libra investment token" that will be sold only to the founding corporate members of the Libra Association, and accredited investors. Excess interest earned on the portfolio backing outstanding Libra collateral will go to holders of the investment tokens.

<div class="cArrow"> </div><div class="cContentInner">In addition to Libra, the project will also issue a "Libra investment token" that will be sold only to the founding corporate members of the Libra Association, and accredited investors. Excess interest earned on the portfolio backing outstanding Libra collateral will go to holders of the investment tokens.</div>

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Facebook's Libra Cryptocurrency: A Technical Deep Dive - 0 views

www.coindesk.com/currency-a-technical-deep-dive

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shared by John Kiff on 18 Jun 19 - No Cached

John Kiff on 18 Jun 19

Facebook has built a dedicated computer programming language called "Move" to provide more flexibility to the Libra blockchain. By building programmability into the blockchain, it can take advantage of new functionality or new techniques, without an entire network upgrade.

<div class="cArrow"> </div><div class="cContentInner">Facebook has built a dedicated computer programming language called "Move" to provide more flexibility to the Libra blockchain. By building programmability into the blockchain, it can take advantage of new functionality or new techniques, without an entire network upgrade.</div>

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Facebook Unveils Libra Cryptocurrency, Targeting 1.7 Billion Unbanked - 0 views

www.coindesk.com/ry-to-support-new-libra-crypto

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shared by John Kiff on 18 Jun 19 - No Cached

John Kiff on 18 Jun 19

Among the payments giants, a number of NGOs are involved in the Libra Association, including Creative Destruction Lab, Kiva, Mercy Corps and Women's World Banking. To become a "Social Impact Partner," participating non-profits must have a five-year track record of poverty alleviation work, including digital financial inclusion initiatives in the field, and an operating budget of greater than $50 million.

<div class="cArrow"> </div><div class="cContentInner">Among the payments giants, a number of NGOs are involved in the Libra Association, including Creative Destruction Lab, Kiva, Mercy Corps and Women's World Banking. To become a "Social Impact Partner," participating non-profits must have a five-year track record of poverty alleviation work, including digital financial inclusion initiatives in the field, and an operating budget of greater than $50 million.</div>

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Behold Libra, the global cryptocurrency masterminded by Facebook - 0 views

qz.com/...-its-new-global-cryptocurrency

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shared by John Kiff on 18 Jun 19 - No Cached

John Kiff on 18 Jun 19

Third parties will be able to build their own apps, wallets, and marketplaces around Libra. If you want to, though, you can use Facebook's digital wallet, Calibra, a regulated subsidiary. In the US, Calibra is registered as a money service business, and will be overseen by the US Treasury.

<div class="cArrow"> </div><div class="cContentInner">Third parties will be able to build their own apps, wallets, and marketplaces around Libra. If you want to, though, you can use Facebook's digital wallet, Calibra, a regulated subsidiary. In the US, Calibra is registered as a money service business, and will be overseen by the US Treasury.</div>

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Zuckerberg: The man who would be monetary king - 0 views

ftalphaville.ft.com/...man-who-would-be-monetary-king

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shared by John Kiff on 18 Jun 19 - No Cached

John Kiff on 18 Jun 19

Libra is nothing more than a brazen attempt to override national monetary sovereignty by creating a global-scale Fed equivalent - within which Facebook's dominance is veiled by the cunning use of buzzwords like blockchain, DLT, decentralisation and cryptocurrency.

<div class="cArrow"> </div><div class="cContentInner">Libra is nothing more than a brazen attempt to override national monetary sovereignty by creating a global-scale Fed equivalent - within which Facebook's dominance is veiled by the cunning use of buzzwords like blockchain, DLT, decentralisation and cryptocurrency.</div>

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Fintech Daily Digest

Will Libra Displace National Currencies? - 0 views

An in-depth review of Facebook's long-anticipated entry into cryptocurrency - 0 views

The (Facebook) Libra Reserve - 0 views

UBS introduces smart contracts for structured products - 0 views

What is Libra, Facebook's new digital coin? - 0 views

Facebook announces Libra cryptocurrency with a massive list of partners - 0 views

Ripple Could Invest Up to $50 Million in MoneyGram in XRP Boosting Deal - 0 views

Facebook's Libra Cryptocurrency: Under The Hood - 0 views

Facebook Unveils New "Currency" - 0 views

Facebook's GlobalCoin Is No Threat to Bitcoin, But Banks Should Worry - 0 views

Facebook debuts Libra cryptocurrency: a Bitcoin killer? - 0 views

Better Than Bitcoin? Facebook Unveils Libra Cryptocurrency - 0 views

Facebook's Libra coin is a symptom of banks' flaws - 0 views

What exactly is Facebook's Libra Reserve? - 0 views

Facebook's Libra: blockchain, but without the blocks or chain - 0 views

There's a Second Token: A Breakdown of Facebook's Crypto Economy - 0 views

Facebook's Libra Cryptocurrency: A Technical Deep Dive - 0 views

Facebook Unveils Libra Cryptocurrency, Targeting 1.7 Billion Unbanked - 0 views

Behold Libra, the global cryptocurrency masterminded by Facebook - 0 views

Zuckerberg: The man who would be monetary king - 0 views

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