Libra

China’s Central Bank Completes Design of its Digital Currency

China’s central bank, the People’s Bank of China (PBoC), has announced it has completed the design of its digital currency, local news outlet JRJ.com has reported. According to the announcement, China’s central bank digital currency has completed its “top-level design, standard formulation, functional research and development.” Mu Changchun, head of the digital currency research institute […]

China’s sovereign digital currency – still no launch date

People’s Bank of China says research and development work will continue in 2020. Beijing is keen to create a digital currency to offset perceived risks posed by bitcoin and Facebook’s Libra China’s central bank said on Sunday it will continue with its research and development into the creation of a sovereign digital currency in 2020, […]

Forget bitcoin, China’s crypto-yuan is set to transform banking

Digital currencies could become substitutes not just for physical cash but also for bank reserves. So is China readying its own bitcoin? Banish the thought. It’s far bigger than that. Yes, just like any other crypto-currency — or for that matter, cigarettes in POW camps — the upcoming digital yuan will be “tokenised” money. But […]

Twitter and Facebook Want to Shift Power to Users. Or Do They?

A decentralized internet was hailed as a way to dethrone Twitter and Facebook. But to the tech giants, the idea could unload some of their burdens. Not so long ago, the technology behind Bitcoin was seen in Silicon Valley as the best hope for challenging the enormous, centralized power of companies like Twitter and Facebook. […]

Facebook re-brands in all caps, failing to defuse internet ire over monopoly status, fake news, and privacy predation

Facebook has rebranded as all-caps FACEBOOK in order to remind people “which company makes the products they use,” inviting mockery from social media as it dodges the problems plaguing the billion-user mega-platform. Facebook will slap the new all-caps logo in a thin-lettered typeface on its subsidiaries, while its old logo will remain the identifier for […]

Libra, Calibra: Facebook’s Digital avada kedavra Magic Money Plan Explained

Earlier in June, Facebook announced its ambitious cryptocurrency called Libra. Libra being termed as a cryptocurrency works on the same underlying technology as other cryptocurrencies, the blockchain. Despite being a cryptocurrency, it is to be noted that Libra has a lot of distinct features that are not seen on other cryptocurrencies. Libra is a permissioned […]

Cryptocurrencies backed by private firms face tough fight

China’s central bank is still in the process of developing its own digital currency, and competition among government-backed digitalized currencies can be expected in the “digital era”, said a central bank official on Tuesday. Some digital currencies issued by the private sector, such as Facebook’s Libra, will find it hard to compete with the State-issued […]

The Biggest Crypto Losers of 2019

Facebook’s uncertain Libra launch in 2020. Facebook’s announcement of its Libra cryptocurrency has been one of the major events of 2019. However, on the unveiling of Libra as a stablecoin backed by a select number of national currencies, U.S. lawmakers reacted with skepticism, summoning Facebook CEO Mark Zuckerberg to multiple hearings. At its core, Libra […]

A Bitcoin War Is Brewing Over KYC

Every year, Bitcoin faces a new foe intent on crippling it by undermining the foundations it was built upon. From mining cartels to developer disputes, Bitcoin has faced a barrage of threats over the past decade. When it’s not internecine conflict taking its toll, it’s external forces including politicians and regulators seeking to exert control. […]

Bitcoin Peaked 2 Years Ago. New Competition Is on the Way.

Two years ago today, Bitcoin hit its highest price ever, reaching $19,783. It was the culmination of an incredible year for the digital currency, which had started 2017 at about $1,000. Since hitting its peak, however, Bitcoin has fluctuated wildly. It fell 73% in 2018 and has risen 85% this year—but has not come close […]

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