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Facebook presents Libra.
On the week of July 15, 2019 Facebook met before a US congressional committee to discuss the ambitious plans of the technology giant to create a global digital currency called Libra. At the hearing, US Congressional staff interviewed Libra leaders as well as cryptocurrency experts about the intentions and concerns of the project. & Nbsp;
The hearings of the hearing included the strong concern of the central authorities that Libra could pose a problem. considerable risk to the global financial system. These risks include money laundering, terrorist financing and the loss of regulatory power. & Nbsp;
As a Swiss entity, the Libra Foundation is committed to complying with international financial organizations and cooperating in general with legislators. The goal is simple. Libra wants to create financial inclusion for millions of unbanked people around the world by using a stable coin. Many more hearings are planned to deepen the conversation. & Nbsp;
With a wide range of opinions presented, this article addresses industry experts and entrepreneurs to find out their opinion on the Libra and the future of banking and digital currencies. & Nbsp;
Francis Silva, CEO of Intergalaxie
AT Intergalaxie, we noticed two main reactions in the latest news from Libra. One came from critics who felt threatened or preoccupied and the other from supporters who saw the potential of the project to create a new global financial solution. Both are perfectly understandable given the beginning of the project. & Nbsp; & nbsp;
Critics consider Facebook, the company that supports Libra, as an entity that has proven unreliable with the data and will eventually pull the strings to set the price of Libra. According to the White Paper and the intentions expressed, the viability and extensibility of the project is of great concern. In addition, since the target audience is mostly Facebook users, the ability to control these users with the help of Facebook and Libra can become problematic if the protections in place fail. & Nbsp;
The support group, on the other hand, is the same community that is already among the billions of active users who understand digital currencies and can act as spokespersons for the rest of the world. In this scenario, visibility on the benefits of cryptocurrencies will be greater and will benefit more people globally. & Nbsp;
At these meetings, we may have finally seen the recognition that the cryptocurrency industry deserves. In either case, the impact on the industry will be huge.
Antoni Trenchev, co-founder and managing partner of Nexo
AT Nexo, we are pleased to see that the current focus on Libra and the cryptocurrency market will help spark the much-awaited discussions on Capitol Hill about the digital badet regulation that will benefit the marketplace. crypto space, particularly in crypto banking, a domain in which Nexo dominates. We hope that pro-business and technology-friendly rules will be the by-product of this policy discourse.
Paving the way for financial inclusion for the 2 billion sub-funds Libra can access through Facebook-managed platforms is a phenomenal financial innovation. This is especially true as the concept of Libra will prevail, as it offers many advantages, such as very low-cost cross-border transactions, cheaper payment acquisition for merchants and no currency costs. It is only a question of time and adequate regulatory basis for its revolutionary potential to be widely used.
The value propositions emanating from financial innovators entities are evident everywhere and companies like Nexo are already fighting another major plague of our time, the inability to earn high yielding interests in a secure way. Given the extremely low interest rate environment facilitated by the Fed and the ECB, Nexo offers annual returns of 8%, which is extremely attractive for individuals and financial institutions. We are interested in continuing to team up with Libra in this endeavor.
Nexo has always shown its support to the major players in the market, as is also demonstrated by the transition from at least 10% of its NEXO chips from the Ethereum block chain to the BEP-2 standard of Binance's own chain. called 'Binance Chain & # 39; to guarantee faster transactions, lower fees and NEXO trading on the DEX Binance. & nbsp;
This is the latest initiative of a one-year collaboration between Nexo and Binance, which began in July 2018 when Nexo became the first company to ease sales pressure and enable Binance Coin (BNB) holders borrow against their cryptocurrency using Instant Crypto Lines of Credit. ™. The newly built bidirectional token exchange mechanism will allow cardholders to convert BEP-2 to ERC-20, and vice versa, while paying #ZeroFees and will be available in the Nexo wallet on both the web and mobile. .
The more the sector sees legitimate strategic partnerships, such as this one, the more the public will perceive its value. Libra is a good example with its consortium of donors. & Nbsp;
Shigeki Kakutani, CEO and founder of Quras& nbsp;
The deep concern expressed by US and global policymakers around the initial view of Libra is justifiable and unsurprising. By proposing the creation of an open developer and payment network with limited regulatory compliance and no intervention, Facebook should have provided for this type of refoulement. Since Facebook has more than 2.3 billion active users per month, the balance in innovation and regulation is cautious. & Nbsp;
Even before Libya, Facebook has had to face growing criticism for its data-gathering practices and the significant data hacking of its users. If Facebook can not secure its current social platform and messaging applications with the appropriate security and privacy technologies, then why should its user base be trusted with Libra? & Nbsp;
Privacy issues are numerous in the big data industry, which encompbades any business that owns, uses, and sells large amounts of personal data, such as Facebook. Protecting the privacy of users and businesses while allowing everyone to become aware of the value of blockchain technology is one of the main reasons we built Quras in the first place. & nbsp;
We can not come to a place of trusted blockchain adoption without giving individuals a digital identity allowing them to control their identity in detail while setting up a hierarchy of data permissions with different levels of trust. confidentiality for a given purpose. This will ultimately allow for regulatory compliance and more real world uses.
Andy Cheung, Chief of Operations OKEx
One thing is undeniable: the recent news about Libra, digital currencies and blockchain technology have made their success. I consider this to be an extremely positive thing, despite the visible hesitation of legislators. & Nbsp; With any new industry, we have to wait for questions and concerns and we welcome it as an exchange.
For now, we must seize this opportunity to continue to educate the people around us about digital currencies and their enormous potential and give them confidence. That's why OKEx recently donated $ 4.5 million of Bitcoin to its permanent exchange market insurance fund to support Power Lunch, a charity luncheon with a handful of crypto magnates and the legendary Wall Street investor , Warren Buffett, on our way. This lunch is a great way to generate discussions, but we decided to put our resources where the cryptographic community could benefit directly. & Nbsp; & nbsp; & nbsp;
The more hearings we see, the more it should be clear. Two daring members of Congress demonstrated a clever understanding of the industry during the hearings, proving that even legislators can understand the intricacies of digital currencies when they want it. & Nbsp; & nbsp;
Will Libra be a success? Time will tell us. For the knowledge of digital currencies, & nbsp;the news is welcome and we look forward to the process of training and serving millions more customers on OKEx in the near future.
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Facebook presents Libra.
On the week of July 15, 2019 Facebook met before a US congressional committee to discuss the ambitious plans of the technology giant to create a global digital currency called Libra. At the hearing, congressional staff interviewed Libra leaders and leading cryptocurrency experts about the intentions and concerns of the project.
The hearings of the hearing included the strong concern of the central authorities that Libra could pose a problem. considerable risk to the global financial system. These risks include money laundering, terrorist financing and the loss of regulatory power.
As a Swiss entity, the Libra Foundation is committed to complying with international financial organizations and cooperating in general with legislators. The goal is simple. Libra wants to create financial inclusion for millions of unbanked people around the world by using a stable coin. Many more hearings are planned to deepen the conversation.
Featuring a wide range of opinions, this article is aimed at industry experts and entrepreneurs to get their opinion on Libra and the future of banks and digital currencies.
Francis Silva, CEO of Intergalaxie
AT Intergalaxie, we noticed two main reactions in the latest news from Libra. One came from critics who felt threatened or preoccupied and the other from supporters who saw the potential of the project to create a new global financial solution. Both are perfectly understandable given the beginning of the project.
Critics consider Facebook, the company that supports Libra, as an entity that has proven unreliable with the data and will eventually pull the strings to set the price of Libra. According to the White Paper and the intentions expressed, the viability and extensibility of the project is of great concern. In addition, the target audience being largely Facebook users, the ability to control these users with the help of Facebook and Libra can become problematic if the protections in place fail.
The support group, on the other hand, is the same community that is already among the billions of active users who understand digital currencies and can act as spokespersons for the rest of the world. In this scenario, visibility on the benefits of cryptocurrencies will be greater and will benefit more people globally.
At these meetings, we may have finally seen the recognition that the cryptocurrency industry deserves. In either case, the impact on the industry will be huge.
Antoni Trenchev, co-founder and managing partner of Nexo
AT Nexo, we are pleased to see that the current focus on Libra and the cryptocurrency market will help spark the much-awaited discussions on Capitol Hill about the digital badet regulation that will benefit the marketplace. crypto space, particularly in crypto banking, a domain in which Nexo dominates. We hope that pro-business and technology-friendly rules will be the by-product of this policy discourse.
Paving the way for financial inclusion for the 2 billion sub-funds Libra can access through Facebook-managed platforms is a phenomenal financial innovation. This is especially true as the concept of Libra will prevail, as it offers many advantages, such as very low-cost cross-border transactions, cheaper payment acquisition for merchants and no currency costs. It is only a question of time and adequate regulatory basis for its revolutionary potential to be widely used.
The value propositions emanating from financial innovators entities are evident everywhere and companies like Nexo are already fighting another major plague of our time, the inability to earn high yielding interests in a secure way. Given the extremely low interest rate environment facilitated by the Fed and the ECB, Nexo offers annual returns of 8%, which is extremely attractive for individuals and financial institutions. We are interested in continuing to team up with Libra in this endeavor.
Nexo has always shown its support to the major players in the market, as is also demonstrated by the transition from at least 10% of its NEXO chips from the Ethereum block chain to the BEP-2 standard of Binance's own chain. called 'Binance Chain & # 39; to guarantee faster transactions, lower fees and NEXO trading on the DEX Binance.
This is the latest initiative of a one-year collaboration between Nexo and Binance, which began in July 2018 when Nexo became the first company to ease sales pressure and enable Binance Coin (BNB) holders borrow against their cryptocurrency using Instant Crypto Lines of Credit. ™. The newly built bidirectional token exchange mechanism will allow cardholders to convert BEP-2 to ERC-20, and vice versa, while paying #ZeroFees and will be available in the Nexo wallet on both the web and mobile. .
The more the sector sees legitimate strategic partnerships, such as this one, the more the public will perceive its value. Libra is a good example with its consortium of donors.
Shigeki Kakutani, CEO and founder of Quras
The deep concern expressed by US and global policymakers around the initial view of Libra is justifiable and unsurprising. By proposing the creation of an open developer and payment network with limited regulatory compliance and no intervention, Facebook should have provided for this type of refoulement. Given that Facebook has more than 2.3 billion active users per month, the balance between innovation and regulation is cautious.
Even before Libya, Facebook has had to face growing criticism for its data-gathering practices and the significant data hacking of its users. If Facebook can not secure its current social platform and email applications with the appropriate security and privacy technologies, then why should its user base trust Libra?
Privacy issues are numerous in the big data industry, which encompbades any business that owns, uses, and sells large amounts of personal data, such as Facebook. Protecting the privacy of users and businesses while allowing everyone to become aware of the value of blockchain technology is one of the main reasons we built Quras in the first place.
We can not come to a place of trusted blockchain adoption without giving individuals a digital identity allowing them to control their identity in detail while setting up a hierarchy of data permissions with different levels of trust. confidentiality for a given purpose. This will ultimately allow for regulatory compliance and more real world uses.
Andy Cheung, Chief of Operations OKEx
One thing is undeniable: the recent news about Libra, digital currencies and blockchain technology have made their success. I consider this to be an extremely positive thing despite the visible hesitation of legislators. With any new industry, we have to wait for questions and concerns and we welcome it as an exchange.
For now, we must seize this opportunity to continue to educate the people around us about digital currencies and their enormous potential and give them confidence. That's why OKEx recently donated $ 4.5 million of Bitcoin to its permanent exchange market insurance fund to support the Power Lunch, a charity luncheon with a handful of cryptography magnates and the legendary Wall Street investor , Warren Buffett, on our way. This lunch is a great way to generate discussions, but we have decided to put our resources so that the cryptographic community can benefit directly.
The more hearings we see, the more it should be clear. Two daring members of Congress have demonstrated a clever understanding of the industry during the hearings, proving that even lawmakers can understand the intricacies of digital currencies when they wish.
Will Libra be a success? Time will tell us. For the knowledge of digital currencies, the news is welcome and we look forward to the process of training and serving millions more customers on OKEx in the near future.
