Facebook Inc. unveiled plans to launch Libra, a payment system it describes as âglobal currency” thatâs based on blockchain, the same technology powering bitcoin and other cryptocurrencies. Itâs backed by real assets and attached to stable government securities. Iâve heard that more than two dozen corporate partners are on board, including financial behemoths MasterCard, Visa, PayPal and Coinbase. With partners contributing membership fees of $10 million each, Facebookâs goal is to line up a total of 100 corporate partners and…
Brian Solis Shares His Views On Facebookâs Libra System and The Banking Industry On the Breaking Banks Podcast
Solis offered his opinions on Facebookâs recently announced Libray payment system and other matters related to banking as a guest on Breaking Banks â the #1 Global Fintech podcast, hosted by Brett King and Chloe James. The episode was titled “Facebook Bets on Libra.” Highlights from the discussion: âI applaud Facebook for this move. Itâs something the company has been teasing about for years and which it has to do to help its growth. However, itâs the platform that…
