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Excited About Facebook's Libra? HOLD ON!
Excited About Facebook's Libra? HOLD ON!
Libra’s main stated mission is to service the world’s poor and unbanked. Facebook’s source for the 1.7 billion figure is the World Bank’s Global Findex Database 2017. Findex also believes that 1 billion of these have mobile phones and 500 million have internet access. However, Findex also says that over half of the 1.7 billion come from just seven countries: Bangladesh, China, India, Indonesia, Mexico, Nigeria and Pakistan. More than half of these are in places where cryptos are banned, Facebook can’t freely operate, the country is under heavy FATF restrictions, or it faces other limitations.
#CryptoAssets#AltCoins#Fintech#Stablecoins#Facebook#Libra#DFC
·finteknews.com·
Excited About Facebook's Libra? HOLD ON!
Fitch Ratings: Facebook's Libra Blockchain May Be Viable Tech Cryptocurrency
Fitch Ratings: Facebook's Libra Blockchain May Be Viable Tech Cryptocurrency
Fitch ratings believes that Libra represents a step toward a potentially viable cryptocurrency. It incorporates and improves upon elements of existing blockchain technology, while resolving certain inherent drawbacks, such as price instability and governance challenges. Libra also seems to be designed with regulatory acceptance and lawfulness in mind.
#Fintech#CryptoAssets#AltCoins#Stablecoins#Facebook#Libra#DFC
·fitchratings.com·
Fitch Ratings: Facebook's Libra Blockchain May Be Viable Tech Cryptocurrency
EXCLUSIVE: After Stephen Moore's failed Fed bid, he's creating a crypto central bank | Fox Business
EXCLUSIVE: After Stephen Moore's failed Fed bid, he's creating a crypto central bank | Fox Business
Economist Stephen Moore, who recently lost out on a bid to join the board of the Federal Reserve, is joining the "Decentral" algorithmic stablecoin team. Decentral bills itself as “the world’s decentralized central bank.”
#Fintech#CryptoAssets#AltCoins#Stablecoins#Decentral#DFC
·foxbusiness.com·
EXCLUSIVE: After Stephen Moore's failed Fed bid, he's creating a crypto central bank | Fox Business
The official announcement of the G7 stablecoin task force
The official announcement of the G7 stablecoin task force
François Villeroy de Galhau has announced the launch of a G7 task force that will investigate the impact of stablecoins. It will investigate issues such as the definition of “stable”, what constitutes a stable basket, and whether peg has to be fully fixed or flexible. It will also examine issues related to anti-money laundering, consumer protection and operational resilience, plus any possible impact on the transmission of monetary policy. De Galhau added it would be important to improve existing payment systems, especially where they operate across borders.
#Fintech#CryptoAssets#AltCoins#Stablecoins#Facebook#Regulation#Libra#DFC
·banque-france.fr·
The official announcement of the G7 stablecoin task force
More Stablecoins, More Stability
More Stablecoins, More Stability
Neutral’s stablecoin basket instrument has added a new layer or reliability and security to the space. By combining stablecoins together, represented by one overarching coin, Neutral reduces the overall risk exposure to one individual coin’s volatility and can produce a more stable token that fluctuates more closely to the intended value.
#Fintech#CryptoAssets#AltCoins#Stablecoins#Neutral#DFC
·blocktribune.com·
More Stablecoins, More Stability
Facebook, Libra and the threat it poses to government as we know it
Facebook, Libra and the threat it poses to government as we know it
"Facebook need not create a new bank. And it might avoid banking regulation. But its goal would still be achieved: the power of the state to manage the economy of a nation could be critically undermined in those places where it still exists by the existence of its currency. And, I would suggest this is precisely what the goal of this policy is.
#Fintech#CryptoAssets#AltCoins#Stablecoins#Facebook#Libra#DFC
·taxresearch.org.uk·
Facebook, Libra and the threat it poses to government as we know it
Regulators to Decide if the Crypto Stars Align for Libra
Regulators to Decide if the Crypto Stars Align for Libra
"We expect that the evolution of payment infrastructure will accelerate. All actors are grappling with what is at stake. For governments and central banks, regulating this transformation will be a prerequisite to avoiding a possible privatization of monetary policy, and for banks and other financial services providers, keeping up with evolving customer preferences and further adjusting the pricing of payments and transfers appears unavoidable."
#Fintech#CryptoAssets#AltCoins#Stablecoins#Facebook#Libra#DFC
·capitaliq.com·
Regulators to Decide if the Crypto Stars Align for Libra
What is Tether? Most Comprehensive Real Story
What is Tether? Most Comprehensive Real Story
Tether is a hybrid crypto-fiat “stablecoin” whose value is pegged to the value of the U.S. dollar and other fiat currencies. It is a cryptocurrency asset issued by Tether Limited, and it operates on the Omni protocol as a token issued on the blockchain. As a rule of thumb, every Omni transaction (Tether inclusive) is recorded in a Bitcoin transaction sharing the same transaction hash.
#Fintech#CryptoAssets#AltCoins#Stablecoins#Tether#DFC
·blockgeeks.com·
What is Tether? Most Comprehensive Real Story
Is Bitcoin Really Un-Tethered?
Is Bitcoin Really Un-Tethered?
Using algorithms to analyze blockchain data, we find that purchases with Tether are timed following market downturns and result in sizable increases in Bitcoin prices. The flow is attributable to one entity, clusters below round prices, induces asymmetric autocorrelations in Bitcoin, and suggests insufficient Tether reserves before month-ends.
#Bitcoin#Fintech#CryptoAssets#Tether#Stablecoins#Bitfinex#DFC
·papers.ssrn.com·
Is Bitcoin Really Un-Tethered?
Buried in Facebook's Libra White Paper, a Digital Identity Bombshell
Buried in Facebook's Libra White Paper, a Digital Identity Bombshell
Facebook’s Libra white paper includes a brief but potentially seismic nod to digital identity standards. With 2 billion users worldwide, Facebook may be able to succeed where others have failed in jump-starting a globally accepted digital ID. Some identity experts say this is even more important than the cryptocurrency, but others question how much control Libra would give users and find its approach overbearing."
#Fintech#CryptoAssets#AltCoins#Stablecoins#Facebook#Libra#DFC
·coindesk.com·
Buried in Facebook's Libra White Paper, a Digital Identity Bombshell
Facebook’s Libra Could Give Dollar, Banks Some Welcome Competition
Facebook’s Libra Could Give Dollar, Banks Some Welcome Competition
The payment system remains one of the last true monopolies of a modern economy. Financial technology startups and cryptocurrencies have all sought to bust up that monopoly. With its new digital currency, Libra, Facebook may actually succeed by doing what none others have: by creating a de facto central bank to issue it.
#Fintech#CryptoAssets#AltCoins#Stablecoins#Facebook#Libra#DFC
·wsj.com·
Facebook’s Libra Could Give Dollar, Banks Some Welcome Competition
Esperanto, money's interval of certainty, and how this applies to Facebook's Libra
Esperanto, money's interval of certainty, and how this applies to Facebook's Libra
“I suspect that Libra is very much a work-in-progress. The current whitepaper seems to give only a hint of what the project might become. If so, one of the changes I suspect Facebook will have to make if it wants to get traction is to link the Libra network to already-existing units of account. A new unit of account is just too Utopian.”
#Facebook#Stablecoins#AltCoins#Fintech#CryptoAssets#Libra#DFC
·jpkoning.blogspot.com·
Esperanto, money's interval of certainty, and how this applies to Facebook's Libra
If Libra Threatens Central Bank Power, that's Great
If Libra Threatens Central Bank Power, that's Great
For hundreds of millions of citizens across the world, digital currencies like Bitcoin, Ripple, and potentially even the Libra don’t pose a threat to financial stability. They offer an escape from chronic financial instability and high and variable rates of inflation that result from poorly managed government monies.
#Fintech#CryptoAssets#AltCoins#Stablecoins#Facebook#Libra#DFC
·aier.org·
If Libra Threatens Central Bank Power, that's Great
Facebook’s Libra probably won’t help people without bank accounts
Facebook’s Libra probably won’t help people without bank accounts
The unbanked do not have bank account numbers and they may not have credit cards, either. They have cash. There’s nothing in the Libra white paper about how Libra will lower fees to convert fiat cash into Libra, which is both the essential challenge of consumer banking and an explicit part of Libra’s problem statement.
#Fintech#CryptoAssets#AltCoins#Stablecoins#Facebook#Libra#DFC
·theverge.com·
Facebook’s Libra probably won’t help people without bank accounts
Facebook’s crypto plans look a lot like the ones the SEC is trying to stop
Facebook’s crypto plans look a lot like the ones the SEC is trying to stop
The Libra investment tokens will give founding members the right to a portion of funds from a future reserve as well as incentives in Libra coin. The Libra Association is clear that it intends for the Libra coin sold to users on its blockchain to be a currency. However, the intermingling of the Libra coin as incentives for the founding members may be viewed by the SEC as integrating the offerings of the Libra investment tokens and the Libra coin, making the Libra coin a security as well from the SEC’s viewpoint.
#Fintech#CryptoAssets#AltCoins#Stablecoins#Facebook#Regulation#Libra#DFC
·marketwatch.com·
Facebook’s crypto plans look a lot like the ones the SEC is trying to stop
Barry Eichengreen thinks Facebook’s venture into cryptocurrency is a terrible idea
Barry Eichengreen thinks Facebook’s venture into cryptocurrency is a terrible idea
Libra, unlike other stablecoins, is intended to complement national currencies rather than replace them. This doesn’t mean, however, that Facebook understands monetary economics any better than my 24-year-old [Silicon Valley] luncheon companions.
#Fintech#CryptoAssets#AltCoins#Stablecoins#Facebook#Libra#DFC
·washingtonpost.com·
Barry Eichengreen thinks Facebook’s venture into cryptocurrency is a terrible idea
Why stablecoins like Libra are a silly idea
Why stablecoins like Libra are a silly idea
If the purpose of a stablecoin is to offer a new kind of payment instrument that uses fiat currency as the settlement asset, the question becomes, what added value, if any, such a product would bring to the everyday user. But Libra doesn’t even seem to have the intention of developing front-end solutions for everyday users. Instead, its core proposition is limited to becoming a new settlement asset, diluted by the fact that it will be patched together from other existing ones.
#Fintech#CryptoAssets#AltCoins#Stablecoins#Facebook#Libra#DFC
·linkedin.com·
Why stablecoins like Libra are a silly idea