• Lucas Geiger said OpenLibra is going to hijack Libra, but in a "non-adversarial" way (Lane Rettig, via Twitter).
    Lucas Geiger said OpenLibra is going to hijack Libra, but in a "non-adversarial" way (Lane Rettig, via Twitter).
    Libra

    OpenLibra plans fork to create Facebook-free version of Libra stablecoin

    A group of blockchain developers threatened to split the Libra cryptocurrency’s blockchain and create a competitor free from corporate control

    October 9, 2019 /

    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…

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  • Shopify helps Facebook’s Libra frontman David Marcus
    Facebook’s Libra frontman, Calibra wallet head David Marcus, finally has something to smile about. (Photo: Wikimedia Commons)
    Libra

    PayPal quits Libra cryptocurrency project

    We’re better off without you, the Libra Association’s head of policy said after PayPal withdrew from Facebook’s controversial stablecoin project

    October 4, 2019 /

    PayPal has formally withdrawn from the Libra Association, the payments company announced on October 4.

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  • The Bank of International Settlements (BIS) building in Basel Switzerland sure doesn't look like a dreary place to work every day, right? (Photo by Mario Botta via Wiki commons).
    The Bank of International Settlements (BIS) building in Basel Switzerland sure doesn't look like a dreary place to work every day, right? (Photo by Mario Botta via Wiki commons).
    Libra,  Regulation

    Libra Association and major banks grilled on stablecoins

    Stablecoin creator JPMorgan and a consortium of major financial institutions aiming to launch its own payment coin face the Bank for International Settlements

    September 16, 2019 /

    Facebook once again defended its Libra cryptocurrency, this time in front of a group of central bankers at a conference on the regulation of stablecoins held in Switzerland on September 16.

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  • The libra logo on a cellphone sitting on some coins. What else do you need to see? (via Shutterstock)
    The libra logo on a cellphone sitting on some coins. What else do you need to see? (via Shutterstock)
    Libra

    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

    August 6, 2019 /

    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.

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