Facebook Officially Launched Its Libra Bounty Program Despite Regulation Issues

AndRE177

member

Activity: 322

Merit: 10

Proof-of-Stake Blockchain Network

Quote from: MOProgress on August 27, 2019, 11:05:29 AM

Facebook has launched a bug bounty program for it's Libra project. According to this report: https://www.cryptoinformers.info/news/10404-facebook-officially-open-a-bug-bounty-program-for-libra-project

The question is does it mean Facebook want to launch the Libra project without finalizing with regulators?

That would be a good idea, I would love to participate in testing this project. I already have a lot of experience in this direction, I tested the miner of the Hedera project, as well as Vite.
I am sure that Facebook will solve all issues with regulatory authorities and they will not build barriers for launching Libra into testing.

Aveatrex

sr. member

Activity: 840

Merit: 375

Naa they are actually doing this to provide even more assurance both to potential users and regulators just like Tesla did by making white hackers try and hack into it in exchange of money if they succeed.Pretty much same process here to make sure it's secure and convincing as a new way of payments.

tsaroz

legendary

Activity: 3094

Merit: 1069

DGbet.fun - Crypto Sportsbook

Quote from: MOProgress on August 27, 2019, 11:05:29 AM

Facebook has launched a bug bounty program for it's Libra project. According to this report: https://www.cryptoinformers.info/news/10404-facebook-officially-open-a-bug-bounty-program-for-libra-project

The question is does it mean Facebook want to launch the Libra project without finalizing with regulators?

Yeah. This is all over the internet now.

TechCrunch
https://techcrunch.com/2019/08/27/facebook-is-working-with-hackerone-on-a-bug-bounty-program-for-its-libra-cryptocurrency/

Engadget
https://www.engadget.com/2019/08/27/libra-association-bug-bounty-program-public-security-researchers-facebook-calibra/

cnet
https://www.cnet.com/news/group-that-oversees-facebooks-libra-cryptocurrency-launches-bug-bounty/

What it does men is they haven't given up on the project and are still working on it. Regulation issues are a different things and such thing can change due to some political events like elections. Most likely the presidential elections of US in 2020. We know how influential the Facebook and other popular tech giants in US are.

caffu chino

member

Activity: 532

Merit: 10

releasing a bounty doesn't have to coincide with the project launch. I think they are just preparing the platform so that when there are releases there will be no obstacles. I'm sure Libra will prioritize regulations, because they are a big company. they will not launch the Project, when their problem is not resolved.

confreslamp

copper member

Activity: 280

Merit: 1

CINEMADROM ⥋ BLOCKCHAIN FILM PLATFORM

They have just launched a bug bounty, what is held by every website or product not only in crypto industry. Besides, does a bug bounty directly mean the launch or do they just want to finalise their product before going to another round with SEC?

DaMut

sr. member

Activity: 1274

Merit: 263

Quote from: MOProgress on August 27, 2019, 11:05:29 AM

Facebook has launched a bug bounty program for it's Libra project. According to this report: https://www.cryptoinformers.info/news/10404-facebook-officially-open-a-bug-bounty-program-for-libra-project

The question is does it mean Facebook want to launch the Libra project without finalizing with regulators?

A bug bounty does not mean they will launch it anytime soon, preparation can take months or even years if they think the system is not ready yet. That means even though they officially open it right now, there is a probability for it to not launch this year or even years later. Because after they finish the preparation, they need to clear up their license and regulation. If they want to build up a legit stablecoin, they need to finalize their regulation first. That is the fact.

MOProgress

full member

Activity: 868

Merit: 116

Facebook has launched a bug bounty program for it's Libra project. According to this report: https://www.cryptoinformers.info/news/10404-facebook-officially-open-a-bug-bounty-program-for-libra-project

The question is does it mean Facebook want to launch the Libra project without finalizing with regulators?

Topic: Facebook Officially Launched Its Libra Bounty Program Despite Regulation Issues (Read 165 times)