Tech News, Magazine & Review WordPress Theme 2017
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EMAIL ALERTS
  • DAILY HODL MIX
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EMAIL ALERTS
  • DAILY HODL MIX
No Result
View All Result
The Daily Hodl
No Result
View All Result

Leaked Recordings Reveal What Facebook’s Mark Zuckerberg Really Thinks About Libra

by Daily Hodl Staff
October 2, 2019
in Altcoins

[Sassy_Social_Share]

Mark Zuckerberg, the founder and CEO of Facebook, reportedly says the company plans to take a “consultative” approach to developing its controversial Libra project.

Leaked text and audio from internal Facebook meetings depict Zuckerberg answering a variety of tough questions from employees about the company’s controversies and future, The Verge reports.

Says Zuckerberg on Libra specifically,

“Part of what we’re trying to do overall on these big projects now that touch very socially important aspects of society is have a more consultative approach. So not just show up and say, ‘Alright, here we’re launching this. Here’s a product, your app got updated, now you can start buying Libras and sending them around.’ We want to make sure. We get that there are real issues.

Finance is a very heavily regulated space. There’s a lot of important issues that need to be dealt with in preventing money laundering, preventing financing of terrorists and people who the different governments say you can’t do business with. There are a lot of requirements on knowing who your customers are. We already focus a lot on real identity, across especially Facebook, so there’s even more that we need to do in order to have this kind of a product.

And we’re committed to doing that well, and part of doing that well is not just building the internal tools and showing up and saying, ‘Hey, we think we’ve solved this,’ but addressing and meeting with all the regulators up front, hearing their concerns, hearing what they think we should be doing, making sure other folks in the consortium are handling this appropriately.”

Facebook plans to make Libra a blockchain-based digital currency that’s backed by a basket of assets and governed by the Libra Association, an independent, not-for-profit organization headquartered in Geneva, Switzerland.

It is currently comprised of the social media giant and 27 other organizations, though Zuckerberg says he expects the consortium number to grow to 100 by the launch date which is currently scheduled for the end of 2020.

The project, however, has been mired in controversy, with policymakers in the US and Germany calling for it to be shut down, and Bitcoin enthusiasts calling the initiative a private, centralized digital currency that is not a cryptocurrency.

During the internal meetings, Zuckerberg emphasizes the importance of communicating with policymakers in public hearings – though he also says the process can be “dramatic.” He says it’s often “more substantive” to have private sessions with regulators around the world.

“Those meetings aren’t being played for the camera, but that’s where a lot of the discussions and details get hashed out on things. So this is going to be a long road. We kind of expected this — that this is what big engagement looks like.”

Zuckerberg also says Facebook plans to run cross-border payment projects with traditional currencies first.

“We basically put out this big idea for enabling through our networks, through WhatsApp and Messenger, the ability for people to send money, hopefully as easily as you can send a photo or other content across the world to different folks. But we want to work with traditional currencies.

So we have a test going in India. We’re working in Mexico and a bunch of other countries to have this rolled out broadly. The hope is to get that rolled out in a lot of places with existing currencies before the end of this year.”

[the_ad id="42537"] [the_ad id="42536"]
Check Latest News Headlines


 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Submit a Press Release

Industry Announcements

  • DAM Finance Closes $1.8 Million Pre-Seed Funding Led by DFG and Jsquare for Cross-Chain, Portfolio-Backed Stablecoin
    August 19, 2022
  • Kingdom Quest Launches Token IDO on Poolz
    August 18, 2022
  • W3 Storage Lab Raises $3 Million in Pre-Seed Round
    August 18, 2022
  • Massive Online PFP NFTs Meetup in the Mega World
    August 18, 2022
  • DeFi Yield Protocol (DYP) Anticipates Metaverse Platform Launch With Listings on Coinbase, Huobi and MEXC
    August 17, 2022
  • Former Navy SEAL and Author Willard Chesney Joins CBS SEAL Team Actor Justin Melnick With NFT Collection Release on the ReserveBlock RBX Network, Proceeds To Benefit the Boot Campaign
    August 16, 2022
  • Oraichain Introduces Accelerator Program for DApps Building on Its AI Layer One Ecosystem
    August 15, 2022
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$21,531.77
$21,531.77
7.98%
Ethereum
$1,719.65
$1,719.65
8.26%
Cardano
$0.471282
$0.471282
11.49%
XRP
$0.341653
$0.341653
9.54%
Dogecoin
$0.070618
$0.070618
11.01%

Spotlight

  • Solana, Avalanche, and Polygon Breaking Out as One DeFi Altcoin Carves Bear Market Bottom: Top Crypto Analyst
    August 14, 2022
  • Crypto Behemoth Digital Currency Group Files Registration To Become Lobbyist
    August 16, 2022
  • Bitcoin (BTC) Is Flashing ‘Yellow Flag’ As Prices Move Sideways, Warns Crypto Analytics Firm Santiment
    August 19, 2022
  • Ethereum Set To Explode After Major Update, According to BitMEX Founder Arthur Hayes – Here’s Why
    August 12, 2022
Finance Magnates London Summit Banner
DON'T MISS A BEAT
Crypto headlines delivered daily
to your inbox
BTC, ETH, XRP news alert options
By joining The Daily Hodl news list you agree to our
Terms and Conditions and Privacy Policy.
Featured Image: Shutterstock/Billion Photos

Cryptocurrency news and analysis, covering Bitcoin, Ethereum, Ripple, XRP, altcoins and blockchain technology

Categories

Bitcoin • Ethereum • Trading •
Ripple and XRP • Altcoins •
Blockchain • Regulators •
Scams • Crypto101 • HodlX •
Futuremash •
Industry Announcements

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT

JOIN US ON TELEGRAM

JOIN US ON TWITTER

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2022 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EMAIL ALERTS
  • DAILY HODL MIX

© 2022 The Daily Hodl