Two worlds is there any news about the Libra coin. The boss of Facebook, as a director of the European Central Bank to leave the project.
Contents
Facebook and Libra
After a lot of fuss about the privacy issues, it works with Facebook for quite some time, very hard on a new project. The focus seems to be shifting towards virtual reality, and cryptocurrency. Mark Zuckerberg confirmed this in an interview with the Nikkei: “the focus shifts.
Where it used to be, we think, was, ” let’s have a tool to build, look at Facebook, it’s different now. “We are now looking at how potential problems can be avoided by, for example, an artificial intelligence.”
The plan is to have a private, digital currency development has a lot of question marks taken care of. It can have a big impact on the global financial system. Because of this, it is the attitude of Facebook has changed.
“A lot of people have questions and concerns, and it is our responsibility to make sure, in spite of this, however, steps forward, to stay put.
It is for this reason that one has avoided as much as possible, it is more about the product. It used to be about 2020 is identified, it is now more flexible to respond:
“We want to be, of course, the steps remain, and it does not have to take a couple of years before everything is in order. However, we are now in the focus to make it ‘okay’ to do.”
There, he adds, “but Our approach is evolving as we are able to do things that will have an impact on the community. We would like the world to talk to and get feedback before we publish it. This is a very different approach than that of five years ago.”
ECB on stablecoins
While there are internal and external to Facebook, so to a certain strategy, talk to one of the chambers and of the European Central Bank (ECB) is also about Balance.
Benoit Coeure, (below)managing director of the ECB, said that the stablecoin on Facebook, “a wake-up call for central banks and policy-makers.”
With this decision made, he held in Berlin, on the theme of ” Digital currencies, focusing on Libra. Coeure said that there is an increasing demand for faster, more reliable, low-cost international money transfers. And, it is expected that the desire for such over the next few years will only increase.
“Policy makers and central banks have an answer,” said Coeure.
He is also the chairman of the Committee on Payments and Market Infrastructure at the Bank for International Settlements’, and is also the head of the G7 (Group of Seven, european commission) on stablecoins.
Coeure agreed that the initiatives, such as the Balance of international betalingingsverkeer be able to improve it. At the same time, it is also a challenge for the monetary bewindsvoerders.
For the purpose of money laundering and the financing of organised criminal activity continue to be major stumbling blocks. Also, for the protection of the data of the users and of the legislation on the tax challenges you face.
Coeure also believes that, as a stablecoins on a large scale is to be used, they can lead to problems with regard to monetary policy and financial stability. It is, therefore, to Balance a big job to a high standard.
Source: TheBlockCrypto, and a Long
Thank you for signing up!