The chairwoman of the House Financial Services Committee Maxine Waters announced that the panel will hold the second hearing next month on Facebook’s plan to develop a cryptocurrency-based payments platform Libra.
Facebook’s Libra Coin launch is giving jitters to Australian Banks who see the emergence of the Libra as a potential threat to the banking model.
Facebook’s awaited cryptocurrency Libra may not be launched in India, as the country’s current regulations do not permit cryptocurrency transactions.
Facebook just have released the whitepaper for their Libra project on libra.org, which is the official webpage for the social networks native cryptocurrency. They are coming out with a bold statement to bank the unbanked.
Founder of Zilliqa confirmed that they are looking for more partnerships in order to widen their network and become a worthy competitor to the likes as Visa or Mastercard. They recently went into a partnership with Mindshare, a 30 billion turnover group, with whom they are working on an end-to-end reconciliation platform for the digital advertising industry.
Visa, Mastercard and PayPal are set to be backers of Facebook’s GlobalCoin along with a number of other companies, including Uber. Each will invest approximately $10 million into a foundation that will govern the coin.
Bitcoin expert Max Keiser has said that XRP and other digital currencies will be destroyed by GlobalCoin, the yet-to-be-launched cryptocurrency by the social network giant Facebook. The only one who will survive, thinks Keiser, will be Bitcoin.
The new Facebook’s cryptocurrency – likely to be dubbed Libra Coin – should be revealed later this month, said one of their managers adding that a white paper for the token would be published on June 18.
Russian officials think that Facebook’s Global Coin will have a massive usage across the globe and hence it would be easier to trade oil barrels in their currency.
Jehan Chu, co-founder of Kenetic Capital, predicts that Bitcoin price will reach the $30,000 mark by the end of the year.