Slate: What to Salvage From the Wreckage of Libra

Slate: What to Salvage From the Wreckage of Libra. “… the 1.7 billion users of Facebook’s platforms outside the U.S. and Europe actually could use something like Libra to store and transfer money. These users would take on most of the risk and harm if things go wrong with Libra. And if everything went right—it’s a big if—they’d gain the most too. It’s why, even if Libra is dead in the water, I hope the idea behind it isn’t.”

Ubergizmo: Facebook’s Libra In Trouble As More Companies Withdraw Their Support

Ubergizmo: Facebook’s Libra In Trouble As More Companies Withdraw Their Support. “Last week, it was reported that Facebook’s Libra cryptocurrency lost one of the companies that initially supported it. This came in the form of PayPal who decided to back out of the cryptocurrency. However, it seems that Libra could be in serious trouble because it looks like more founding companies are withdrawing their support as well.”

Lifehacker: Earn Thousands of Dollars for Finding Bugs in Facebook’s Libra Cryptocurrency

Lifehacker: Earn Thousands of Dollars for Finding Bugs in Facebook’s Libra Cryptocurrency. “While we’re still waiting on a specific release date for Facebook’s upcoming cryptocurrency, Libra, the company is aiming for an early 2020 release. That gives you plenty of time to find bugs in the currency’s infrastructure—a project that could reward you handsomely.”

The Next Web: Facebook should stop trying to disrupt payments with Libra and focus on repair

The Next Web: Facebook should stop trying to disrupt payments with Libra and focus on repair. “When companies attempt to enter new highly regulated markets, regulators typically look at the company’s intentions and previous compliance. Facebook has a long history of willful neglect of their consumers’ privacy, as evidenced by numerous disclosures, including a document seizure by the United Kingdom’s parliament.”

Brookings Institution: How should governments respond to Facebook’s Libra initiative?

The Brookings Institution: How should governments respond to Facebook’s Libra initiative?. “How governments should respond to Libra depends on how the company integrates the cryptocurrency into their larger business. We envision Libra being integrated into the company’s broader business model as a basis for offering financial services, or possibly an even broader set of services. Given the increasing social and economic power of large tech firms, governments should proactively start thinking of how to respond to these firms’ entrance into new industries.”

CNET: Fake Facebook accounts are already reportedly offering Libra cryptocurrency

CNET: Fake Facebook accounts are already reportedly offering Libra cryptocurrency. “Facebook is already struggling with multiple fake accounts on its own social media platforms that are offering its newly announced cryptocurrency, Libra, The Washington Post reported Monday. Libra isn’t set to launch until the first half of next year, but around a dozen accounts, groups and pages are already on Facebook and Instagram, the report said.”

Neowin: Japan becomes the latest country to investigate Facebook’s Libra

Neowin: Japan becomes the latest country to investigate Facebook’s Libra. “According to sources familiar with the matter who spoke to Reuters, Japan has begun to investigate the ramifications of Facebook’s upcoming Libra cryptocurrency which is scheduled to launch next year. The officials will be looking into what effect it could have on the country’s monetary policy and financial regulation in anticipation of the upcoming G7 finance ministers meeting which will be held in France next week.”