Facebook Inc. unveiled plans to launch Libra, a payment system it describes as “global currency” that’s based on blockchain, the same technology powering bitcoin and other cryptocurrencies. It’s backed by real assets and attached to stable government securities. I’ve 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, Facebook’s goal is to line up a total of 100 corporate partners and…
Brian Solis Shares His Views On Facebook’s Libra System and The Banking Industry On the Breaking Banks Podcast
Solis offered his opinions on Facebook’s recently announced Libray payment system and other matters related to banking as a guest on Breaking Banks – the #1 Global Fintech podcast, hosted by Brett King and Chloe James. The episode was titled “Facebook Bets on Libra.” Highlights from the discussion: “I applaud Facebook for this move. It’s something the company has been teasing about for years and which it has to do to help its growth. However, it’s the platform that…
