Topic: With Calibra, Facebook opens Libra to cryptocurrencies? - page 2. (Read 541 times)
I think the name of libra looks too much like liberty and calibra was a combination of cash and libra. Because if you go to the calibra website you see them concerned with promoting it as a way of using cash.
Head of Facebooks Libra Distances it from BTC: We'll Share Information with Authorities ...
- https://cointelegraph.com/news/head-of-facebooks-libra-distances-it-from-btc-well-share-information-with-authorities
That's what I was talking about since the day Facebook announced their virtual currency. Facebook will be forced to share the information with the authorities even if they don't want to! It is not a cryptocurrency, even though the structure is similar to a cryptocurrency but the working model is vastly different! Probably they are trying to come up with a different definition for decentralization!
We re laughing but this can be the leader in the crypto market. Inst, Facebook, Whatsup. All will use that.
Decentralized but with a central issuer? Sounds like an oxymoron.
Oh, I hope it won't affect our decentralization idea..the main centralized giant gonna to rule the crypto market. Smells bad.
Really? Calibra? Like that old car? 
Who comes up with these names?
Let's hope it will be a better performer.
We don't really need another decentralized stablecoin even if it will allow people to buy real cryptos. They can already do it with fiat and there's less chance the bank will sell their data to the highest bidder or lose it in a database leak.
Who comes up with these names?Let's hope it will be a better performer.
We don't really need another decentralized stablecoin even if it will allow people to buy real cryptos. They can already do it with fiat and there's less chance the bank will sell their data to the highest bidder or lose it in a database leak.
Head of Facebooks Libra Distances it from BTC: We'll Share Information with Authorities ...
- https://cointelegraph.com/news/head-of-facebooks-libra-distances-it-from-btc-well-share-information-with-authorities
Chair of House Financial Services Committee Requests Halt on Facebooks Crypto Project ...
- https://cointelegraph.com/news/chair-of-house-financial-services-committee-requests-halt-on-facebooks-crypto-project
Really? Calibra? Like that old car? Who comes up with these names?
Let's hope it will be a better performer.
We don't really need another decentralized stablecoin even if it will allow people to buy real cryptos. They can already do it with fiat and there's less chance the bank will sell their data to the highest bidder or lose it in a database leak.
Who comes up with these names?Let's hope it will be a better performer.
We don't really need another decentralized stablecoin even if it will allow people to buy real cryptos. They can already do it with fiat and there's less chance the bank will sell their data to the highest bidder or lose it in a database leak.
The rumor had been swelling for several weeks. Facebook has just unveiled its cryptocurrency, the Libra, by dedicating a white paper to it. Designed as a true digital motto, Libra is under the aegis of an officially independent Geneva-based association. But there is no doubt that Facebook leads the boat: Calibra, one of the 27 members of the association, is the new banking subsidiary of the largest social network in the world.
Like most cryptocurrencies, Libra relies on a blockchain, a secure, distributed database that holds all transactions. Unlike most cryptocurrencies, the Libra is backed by a reserve of assets, which limits fluctuations in its price. The Libra association, "in charge of guiding the evolution of the ecosystem", acts as a currency board, the only one authorized to create and destroy Libra "coins".
This association comes out of the shadows with a "working group" of 27 members, who are responsible for finalizing a charter of operation, and will become the "founding members" of the Libra. For this first step, Facebook has surrounded itself with payment specialists and networks:
- Blockchains specialists: Anchorage, Bison Trails, Coinbase, Xapo;
- Payment networks: Mastercard, PayPal, PayU, Stripe, Visa;
- Venture Capital: Andreessen Horowitz, Breakthrough Initiatives, Ribbit Capital, Thrive Capital, Union Square Ventures;
- Telecom Operators: Iliad, Vodafone Group;
- Online sales: Booking, eBay, Farfetch, Lyft, Pago Mercado, Spotify, Uber;
NGO: Creative Destruction Lab, Kiva, Mercy Corps, Women's World Banking.
As the founding members operate validation nodes that ensure network security and transaction validity, applications must meet certain financial and technical requirements and may be blocked by existing members.
The association wants to quickly reach the hundred members, then go to an open blockchain model, whose governance would be completely decentralized. Iliad, the home of Free, speaks of an "internet of money". If Facebook recognizes that she plays a central role in the organization, she says she will let go of the reins next year.
But she keeps a foothold in the association Libra, headquartered in Geneva and locals in Silicon Valley, through Calibra. Entrusted to David Marcus, vice president of Facebook in charge of Messenger passed by the presidency of PayPal and the board of directors of Coinbase, this subsidiary is nothing other than the "Facebook bank".
There remains the question of trust. Calibra assures that it "will not share account information or financial data with Facebook" ... without your consent. But Libra will be located at the heart of Facebook products, which hopes to make some profit. Apple, Google, and now Facebook: finance is the new horizon of the giants of Silicon Valley.
What do you think of this new facebook project, is it a benefit or a disadvantage for cryptocurrency?
Like most cryptocurrencies, Libra relies on a blockchain, a secure, distributed database that holds all transactions. Unlike most cryptocurrencies, the Libra is backed by a reserve of assets, which limits fluctuations in its price. The Libra association, "in charge of guiding the evolution of the ecosystem", acts as a currency board, the only one authorized to create and destroy Libra "coins".
This association comes out of the shadows with a "working group" of 27 members, who are responsible for finalizing a charter of operation, and will become the "founding members" of the Libra. For this first step, Facebook has surrounded itself with payment specialists and networks:
- Blockchains specialists: Anchorage, Bison Trails, Coinbase, Xapo;
- Payment networks: Mastercard, PayPal, PayU, Stripe, Visa;
- Venture Capital: Andreessen Horowitz, Breakthrough Initiatives, Ribbit Capital, Thrive Capital, Union Square Ventures;
- Telecom Operators: Iliad, Vodafone Group;
- Online sales: Booking, eBay, Farfetch, Lyft, Pago Mercado, Spotify, Uber;
NGO: Creative Destruction Lab, Kiva, Mercy Corps, Women's World Banking.
As the founding members operate validation nodes that ensure network security and transaction validity, applications must meet certain financial and technical requirements and may be blocked by existing members.
The association wants to quickly reach the hundred members, then go to an open blockchain model, whose governance would be completely decentralized. Iliad, the home of Free, speaks of an "internet of money". If Facebook recognizes that she plays a central role in the organization, she says she will let go of the reins next year.
But she keeps a foothold in the association Libra, headquartered in Geneva and locals in Silicon Valley, through Calibra. Entrusted to David Marcus, vice president of Facebook in charge of Messenger passed by the presidency of PayPal and the board of directors of Coinbase, this subsidiary is nothing other than the "Facebook bank".
There remains the question of trust. Calibra assures that it "will not share account information or financial data with Facebook" ... without your consent. But Libra will be located at the heart of Facebook products, which hopes to make some profit. Apple, Google, and now Facebook: finance is the new horizon of the giants of Silicon Valley.
What do you think of this new facebook project, is it a benefit or a disadvantage for cryptocurrency?
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