David Marcus

Facebook Considering Currency-Backed Stablecoins For Libra

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Following the departure of several major backers of Facebook’s Libra cryptocurrency, Reuters is reporting the social media giant is considering a compromise. Initially, Facebook proposed a synthetic unit for the cryptocurrency. The company’s efforts have been met with widespread suspicion and criticism from governments around the world. In what is no doubt an effort to […]

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Big blow to Facebook’s Libra: Mastercard, Visa, Stripe, eBay and Mercado Pago all pull out

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The floodgates opened today on Facebook Inc.’s Libra Association as no fewer than five more companies exited the group overseeing the social network’s proposed cryptocurrency: Mastercard Inc., Visa Inc., eBay Inc., Stripe Inc. and Mercado Pago. Reports that some companies were looking to withdraw their support from Libra surfaced Oct. 1, with PayPal Holdings Inc. becoming the first to

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Designed From the Ground Up To Be a Great Medium Of Exchange, Says Facebook Calibra Head

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Facebook announced today a new digital wallet for a new digital currency. It is currently in a test phase and will launch live in 2020. Here is how Facebook explains the launch in its announcement release: “Today we’re sharing plans for Calibra, a newly formed Facebook subsidiary whose goal is to provide financial services that

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Cluttered Facebook Messenger Could See Big Changes in 2018

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If you are starting to feel that the Facebook Messenger app seems to be too overloaded with features, then you are not the only one. Apparently, even Facebook’s vice president of messaging products David Marcus had to admit that, indeed, the app became too cluttered. In a blog post, Marcus wrote that “Over the last

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