The tech giants that already know everything about you, and now they want to be your banker, too. What could possibly go wrong?
Did the CEO of Binance, one of the largest cryptocurrency exchanges, threaten cryptocurrency media site The Block over a trio of tweets detailing how banned peer-to-peer cryptocurrency trading really happens in China?
The People’s Bank of China (PBOC) Deputy Director Mu Changchun said the bank’s “digital currency can now be said to be ready” at the China Finance 40 Forum in Yichun this weekend, according to Shanghai Securities News.
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.