[ad_1]
• Libra loses known partners with MasterCard and Visa
• New white paper with changes to address regulatory concerns
• Payment service provider Checkout.com joins the project
Facebook has been planning to launch its own digital currency, Libra, for some time. However, the project had to deal with setbacks several times in the past. Decision makers criticized the social media group’s project, and data protection experts expressed concern: too many important questions were left unanswered.
Visa and MasterCard jump
In the fall of last year, Facebook project partners also began expressing doubts due to regulatory concerns. And so it happened that Libra gradually rescued several partners in October 2019. These include the giants of the United States in terms of payment transactions, Visa and MasterCard, as well as the online payment service Stripe and the trading platform by EBay Internet. PayPal was already withdrawn.
Do you want to invest in cryptocurrencies? Our guides explain how to do it in 15 minutes:
»Buy Bitcoin, Buy Ripple, Buy IOTA, Buy Litecoin, Buy Ethereum, Buy Monero.
The Libra Association reviews the plans
The Swiss-based company, the Libra Association, has changed its plans for its own digital currency. In the new white paper, fintech explains four important changes that have been made to address regulatory concerns:
1. Offering multiple stable currencies linked to different government currencies in addition to the Libra token for multiple currencies
2. Improve the security of Libra’s payment system through a robust compliance framework.
3. Exemption from future transition to an unlicensed blockchain system while maintaining its most important economic properties.
4. The installation of strong protection measures in the design of the Libra reserve.
Checkout.com and other new partners
Facebook is extremely pleased: After some partners left last year, the company has found new supporters, including payment service provider Checkout.com. The group was “excited” to welcome Checkout.com as a member.
welcome to @Check out, the newest member of the Libra Association! We are excited to work together to break financial barriers for billions of people by building a secure, transparent and easy-to-use global payment system. Https://t.co/m4hDUzJezP
– Libra (@Libra_) April 28, 2020
“The organization joins a dynamic and growing group of members of the Libra Association who are committed to the safe, transparent and consumer-friendly implementation of a global payment system that breaks financial barriers for billions of people,” Dante Disparte, head of policy and communication with the Libra Association, wrote in an email to CNBC.
You may also be interested in: NOW NEW – Exchange Bitcoin & Co. via the finanzen.net app – or for professionals via the Stuttgart Digital Exchange
Checkout.com CEO Guillaume Pousaz, who advocates for blockchain technology regulation, said in a blog post: “We are technologists at heart and have always been fascinated by blockchain and the potential benefits it could bring to global processing of transactions “and says the Libra Association has the same philosophy that technology should be regulated. “Without such regulation, we firmly believe that technological advances alone would not provide the secure and stable payment infrastructure necessary to drive mass adoption and hinder progress,” said Pousaz.
In addition to Checkout.com, the Libra Association has also been able to win Shopify, Heifer International and Tagomi as partners in recent weeks.
Editorial office finanzen.net
Image sources: Wit Olszewski / Shutterstock.com, Tendo / Shutterstock.com
[ad_2]
