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Vodafone Is the Eighth Company to Quit Facebook’s Digital Currency Project
British telecommunications firm Vodafone has pulled out of the Libra Association, raising further doubt that the digital currency will get off the ground this year as planned.
- Categories
- Finance
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Facebook’s Foray Into Financial Services Is Struggling to Gain Momentum – Here’s Why
Facebook CEO Mark Zuckerberg has announced the company will launch a digital currency later this year, but already the plan is fraught with issues.
- Categories
- Finance
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Q&A: PayPal CEO Dan Schulman Reveals Why He Withdrew From Facebook’s Libra Project
In October, PayPal became the first company to walk away from The Libra Association without citing a specific reason, only that it decided “to forgo further participation in the Libra Association at this time and to continue to focus on advancing our existing mission and business priorities as we strive to democratize access to financial services for underserved populations.”
- Categories
- Finance
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Viewpoint: Digital Impact Investing Is Here Now
In an often bleak political epoch, what a ray of light—capital and digital are working in partnership and we are moving the dial on impact.
- Categories
- Investing
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Perspective: There’s a Lot We Still Don’t Know About Libra
Last month, Facebook chief executive Mark Zuckerberg spent over five grueling hours answering myriad questions from the members of the House Financial Services Committee on issues like election interference, hate speech, censorship and discriminatory advertising. While it was an important reminder of the many dangers that Facebook already presents to our society, we didn’t actually learn much about the hearing’s ostensible topic: Facebook’s audacious plan to create an association of big businesses to issue a new digital currency called Libra.
- Categories
- Finance, Technology
- Region
- South Asia
- Tags
- cryptocurrency, Facebook, fintech
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As Facebook’s Libra Faces Headwinds, China Is Racing to Launch Its Own Global Cryptocurrency
Based on recent conversations and meetings in Beijing, RBC told clients this week that China “has expedited its development of a Central Bank Digital Currency” after Facebook’s announcement in June.
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A Devil’s Bargain to Bank the Unbanked: Why Financial Inclusion Advocates Shouldn’t Trust Facebook’s Libra
As you've likely heard, Facebook has entered the inclusive finance arena, pitching Libra, a global cryptocurrency – ostensibly to promote financial inclusion. But as Digital Equity co-founder Valerie Khan argues, there are plenty of reasons to doubt Facebook's intentions and Libra's “social good” marketing campaign. In fact, she says, "Facebook is not being transparent about its real interest in Libra" – and both financial inclusion advocates and emerging countries should beware.
- Categories
- Finance, Technology
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Viewpoint: The Upside to Facebook’s Libra Disaster
If Facebook really wants to bring financial services to the “unbanked,” it should try doing it on a smaller scale than these companies’ presence promised. And even then, the probability of failure will be high.
- Categories
- Finance
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