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The big new tech news recently has been the launch of Libra; a Block-chain-based payment system and currency unit promoted by Facebook.

The mystery coin

Libra is very very far from a proper Crypto currency structure.

7 July 2019 8:31 AM IST

When China closed its local cryptocurrency exchanges late last year, an underground ecosystem of bitcoin mules and peer-to-peer platforms sprung up to allow bitcoin trading to thrive, away from regulators watchful eyes.

Facebook's crypto needs deep thought and detail before launch

The coin would mark the social media giant's entry into one of the least-regulated areas of finance.

3 July 2019 12:21 PM IST

Details about the hub were limited, and the BIS said it was not able to provide details on investment or staffing levels. (Photo: Pixabay)

World's central banks tackle technology with innovation hub

Facebook's plan to expand into payments and launch its own Libra cryptocurrency were not mentioned in the BIS statement.

1 July 2019 7:52 AM IST

In addition to the massive fine, Facebook will also agree to a series of new restrictions such as conducting preview review of every new product and obtaining consent to create new facial recognition models. (Photo: ANI)

UK data watchdog demands more clarity over Facebook's crypto

The statement also asks for assurances that only the minimum required data will be collected.

6 Aug 2019 9:48 AM IST

Facebook hopes Libra will not only power transactions but offer people without bank accounts access to financial services for the first time.

Undeterred, Facebook to press on with Libra launch next year:...

Since the US tech company unveiled its plans in June, its proposed cryptocurrency has met with regulatory and political...

21 Sept 2019 12:19 PM IST

Digital currencies such as Facebooks Libra will disrupt the financial system, either by forcing central banks to innovate or by grabbing a global role that could challenge the dominance of the dollar, ECB board member Benoit Coeure said on Tuesday.

Facebook's Libra will be disruptive, says ECB's Coeure

Facebook announced plans to create the Libra 'stablecoin' by 2020, scaring global regulators who now scramble to come up...

18 Sept 2019 9:43 AM IST

Facebook hopes Libra will not only power transactions but offer people without bank accounts access to financial services for the first time.

Digital currency cannot be private

Central banks worldwide are looking into the possibility of issuing digital money to prevent the loss of state control...

27 Jan 2020 7:24 AM IST

The initiative aims to serve an estimated 1.7 billion people who lack access to digital financial services.

Google ties up with Gates Foundation on digital payments for the...

The open source software, Mojaloop, first established by Gates Foundation in 2017, is being tweaked for use by...

7 May 2020 2:03 PM IST

Today various payments features exist across our apps, and we want to make sure decision making, execution and compliance are not fragmented, Facebook said. We want to be able to give people the ability to make a payment however they choosedebit, credit or Libra digital currencies. (Photo | AFP)

Facebook carves out a unit focused on its financial payments...

Facebook Financial will handle management and strategy for all payments and money services across the Silicon Valley...

11 Aug 2020 8:36 PM IST

The Swiss-based Libra association, which includes Facebook and a variety of partners, said a shift to using individual currencies was made after hearing comments and complaints on its original proposal.

Facebook-backed Libra returns with new 'stablecoins' linked to single...

Central bank officials and others have expressed concern about a blow to their sovereignty from Libra coins pegged to a...

16 April 2020 9:06 PM IST

The Swiss-based Libra association, which includes Facebook and a variety of partners, said a shift to using individual currencies was made after hearing comments and complaints on its original proposal.

Facebook-backed Libra back with new 'stablecoins' linked to single...

Central bank officials and others have expressed concern about a blow to their sovereignty from Libra coins pegged to a...

16 April 2020 9:06 PM IST