Facebook’s Libra digital coin aims to massively increase crypto adoption

Facebook-led Libra Association has finally announced details of the Libra project. Our key impression is that Libra will act as a major catalyst for the crypto sector helping massive adoption of digital payments and cross-border remittance tools.   The digital currency presented by Facebook will be nothing close to a truly decentralized solution, let alone community-run one. It will be heavily centralized and will employ corporation-type management style. From what we read, Facebook intends to create something largely based on the US dollar.   Despite the fact that they are…

Read More

“Keep Big Tech out of Finance” Act Surfaces, after Donald Trump Tweets on Bitcoin and Libra

A drafted bill entitled “Keep Big Tech out of Finance” dated July 21,  has surfaced online, allegedly deriving from within the United States House of Representatives Financial Services Committee.     The bill’s provenance is unconfirmed, but crypto news site, The Block, quotes an inside source as saying it is with the Financial Services Committee.   The document reads:  A large platform utility may not establish, maintain, or operate a digital asset that is intended to be widely used as medium of exchange, unit of account, store of value, or…

Read More

TRUMP TWEETS – Hits out at Bitcoin, Cryptocurrency and Facebooks Libra – Industry Reacts

Donald Trump has hit out at bitcoin, cryptocurrencies in general, and of course, Facebook’s Libra, tweeting he is not a fan.     Following the tweets, Danish business tycoon Lars Seier Christensen of Concordium, and Dave Hodgson, Director and Co-founder of NEM Ventures, have provided their thoughts on Trump’s latest tweetstorm.        Firstly, let us hear from Lars Seier Christensen, Chairman of Concordium, the world’s first I.d. K.Y.C. ready business blockchain network.  He said:  I tend to agree with the President on the aspect of cryptocurrencies in isolation. They…

Read More