Cryptocurrency

Facebook includes pin, Pound to stablecoins of national currencies | Breaking News

Key facts:

Facebook wants to associate Pound with an image of flexibility and agility.The CEO of Calibra appeared the possibility to use several stablecoins instead of a basket of currencies fiat.With the growing skepticism about their digital currency Pound, Facebook said last Saturday, 19 that the initiative can use several stablecoins or cryptocurrencies anchored to national currencies like the us dollar, in place of a single criptomoneda synthetic as that originally proposed.David Marcus, who leads the project for Facebook and is the CEO of Calibrate, said in a seminar on banking that the primary objective of the social network remained the creation of a system of payments more efficient, but was open to approaches alternative to the criptomoneda that finally would be used.

We can do it in a different way. Instead of having a synthetic unity […] we could have a series of stablecoins: a stablecoin attached to the dollar, another attached to the euro, another to be anchored to the pound sterling, etc … we Could have a multitude of stablecoins representing national currencies in digital form tokenizada. That is one of the options that should be considered.David Marcus, CEO of Calibrate, Facebook.

Marcus said that he was not suggesting that the stablecoins anchored was not necessarily the preferred option of Facebook.”What really matters is the mission and there are several ways to approach it,” said Marcus told Reuters after the panel with bank executives, and he added that Pound needed to “demonstrate that it has a lot of agility”. The new scheme of support of Pound based on stablecoins seems to obey this image of flexibility and agility that Facebook wants to project.The project, led by Facebook went through several problems in this month, when companies of payments such as Mastercard and Visa became the latest partners to leave the project Pound, after PayPal announced its decision to exit the same. Shaping the Association’s official Pound is produced with 25% less of the proponents initials.Other key members who left the project were Stripe, eBay Inc, and Booking Holdings.Regulators and legislators in various countries have worried that the creation of a new criptomoneda global, can destabilize the financial system, threaten the privacy of users and to facilitate the money laundering. The initial proposal of the Pound contemplated a stablecoin supported in a basket of currencies fiat.A group of 20 leaders in financial agreed to last Friday October 18 to implement strict regulations, and noted that such stable currencies should not be issued until the various global risks that these involve not to be seen.Marcus told Reuters that Facebook is still targeting the release of Pounds in 2020, but acknowledged that it could not meet that goal due to obstacles-regulatory.”As we will see. That is still the goal,” said Marcus to Reuters when asked if the recent departure of important partners might delay the launch in 2020.”We have always stated that they are not we will continue moving forward on the project until we have covered all of the concerns as possible, all the legitimate concerns on the part of regulators. So it not depends on us,” said Marcus to Reuters. Version translated from the article of Andra Shalal for Reuters.