Facebook’s venture into crypto, explained. Could be the next thing to disrupt banking and payments and the crypto industry at large. If anybody can do, FB definitely has the user base.
Bank of Japan Governor Haruhiko Kuroda said that international cooperation was of key importance in regulating stable coins such as Libra, the stable coin planned by Facebook.
“If Libra is introduced, it could have a huge impact on society,” said Kuroda, stressing out that policymakers must ensure the highest level of regulation to such stable coins.
Japan would be an interesting pilot for Libra. There or Korea. Digital payments have been widely adopted for some time, and cryptocurrencies are also very popular.
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I was thinking about that too. The fact that Japanese institutions are against it too is very interesting.
Libra has at least one friend in US politics - Sen. Mike Rounds of South Dakota
“Technologies like Libra … have the potential to help unbanked and underbanked consumers right here at home. It would be unfortunate to shun a new solution that could connect more of the most vulnerable Americans to our financial services system.”
Interesting take, as there are already alternatives available in existing coins and tokens that could help provide the same benefit. None the less, I so agree with his statements.
So much about Libra, the project is over now. The Diem association (they renamed the project to Diem some time ago) is selling off its assets to investment banks.
Well that escalated quickly! What a huge fail. In the grand scheme of investments, at least of the investors involved, its a drop in the bucket. On to the next project.
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I have long been pretty sceptical about Libra, to be honest. There was so much pushback from various institutions I had trouble imagining how it would work out.
We missed this, it appears. Confirmed less than a week after your post including the January article.
Assets acquired for $182m.