The number of government-issued digital IDs will grow to 5 billion over the next five years, but blockchain-based products are behind the curve and will not be a big part of the solution, according to a new research report.
The tech giants are coming for the banks. If there’s one message to be taken out of Facebook’s aggressive push into blockchain-based payments via its new cryptocurrency, libra, it’s that Facebook is now also a FinTech company.
Facebook wants to do to Bitcoin—and maybe even the dollar, euro, and yen—what it did to MySpace and Friendster by launching a new cryptocurrency called libra, announced on Tuesday after months of anticipation and speculation.
Facebook has signed up a who’s who of tech and financial powerhouses to back its forthcoming stablecoin, including Mastercard, Visa, PayPal, and Uber, the Wall Street Journal reported on June 13.