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.
Facebook has begun talking to U.S. regulators about getting approval for its forthcoming stablecoin cryptocurrency, said to be referred to as “GlobalCoin” at Facebook.
The U.S. government is finally dipping its toes into blockchain projects and is getting on board with new ways to offer secure documents. Having written previously on the topic—and having done similar projects around supply chain—we want to offer some suggestions on how it can be done right. If implemented properly, it can be a revolutionary way for Americans to store, share, and protect their personal data in ways they could never before. (For the full technical paper we wrote, take a look on Github). The Department of Homeland Security, in their request for proposal (RFP) document, is offering $800,000 for anyone to develop a new way to improve on…