Facebook’s Libra stablecoin may be years from becoming a reality, but that didn’t stop a group of blockchain companies calling itself OpenLibra from announcing plans to fork the stablecoin. News of the preemptive split came at the Ethereum developer conference Devcon 5 in Osaka, Japan on October 9. Lucas Geiger, co-founder of blockchain infrastructure firm Wireline, described the OpenLibra project, as aimed squarely at the corporate control of Libra. Essentially, OpenLibra would be pegged to the Libra coin, a cryptocurrency which will be backed by a basket of fiat currencies to keep its price level. Using the tagline “lock the door open,” the newly launched OpenLibra website called itself an…
Libra Association won’t deny reports PayPal pulling out
Facebook’s crypto project partnerships show signs of buckling with increased government pressure
The Libra Association would not quite deny reports that digital payment service PayPal is withdrawing from the group, designed to oversee Facebook’s highly controversial, proposed cryptocurrency.
From privacy regulators to Walmart, Facebook’s Libra faces growing threats
The US, EU, Canada, and Australia demand data protection guarantees; Walmart patents its own cryptocurrency
In a joint statement on August 6, data protection regulators from the United States, United Kingdom, European Union, Canada, and Australia came head-on, issuing a joint statement slamming the Libra project and Facebook for failing to address the fledgling cryptocurrency’s privacy risks.
News analysis: Less-hostile House politicizes Facebook Libra debate
Facing questions about speed and power, David Marcus refused to make promises about the cryptocurrency
Facebook’s David Marcus got a warmer reception from the House yesterday than he did in the Senate on Tuesday. Not that it was friendly, but the questions focused more on the power Facebook would gain from its Libra cryptocurrency, and getting Marcus to commit to working at the pace of Washington, D.C., not Silicon Valley.