Facebook’s Libra co-creator: Social, financial data will remain separate

The co-creator of Facebook’s Libra says that once the blockchain-based digital currency is launched users’ social media information – and financial data tied to the stablecoin – will not be connected in any way. Christian Catalini, the head economist at Calibra, the Facebook subsidiary in charge of the launch of Libra …

Cryptocurrencies backed by cash could elude new regs

Cryptocurrencies backed by cash could potentially be covered by the same regulations used to govern securities, according to a global financial oversight group. The finding could help move forward projects such as Facebook’s Libra digital currency, known as a stablecoin. The International Organization of Securities Commissions (IOSCO), made up of …

IBM, Intel, J.P. Morgan and Microsoft join others on new blockchain token spec

A new specification to allow businesses to create blockchain-based tokens for international trade and finance has been published – and businesses have already tested digital money based on it for cross border payments and settlement. The Token Taxonomy Framework v1.0 (TTF) was developed by more than two dozen businesses and …

Mastercard partners on blockchain-based food supply chain

Mastercard is partnering with food track-and-trace software provider Envisible to create a blockchain-based supply chain platform to help supermarkets trace the origin of seafood. Envisible’s new Wholechain traceability system will be powered by Mastercard’s blockchain-based Provenance service; it’s designed to give grocery partners more insight into the ethical sourcing and …

Facebook won’t launch cryptocurrency until U.S. regulators approve

In a prepared statement to a House oversight committee, Facebook CEO Mark Zuckerberg said plans to launch a global payments system will remain on hold until U.S. regulators approve it. The comments end speculation Libra coin could go live in nations where there is no government pushback. The statement, published …

HTC launches a cheaper blockchain phone

Taiwanese smartphone maker HTC is now selling a less-expensive version of its Exodus 1 blockchain-based smartphone with a built-in digital wallet that allows users to store, buy, sell and trade Bitcoin and other cryptocurrencies. The Exodus 1s is aimed at users who want to “dip their toes into the crypto world” and …

Can Facebook’s Libra cryptocurrency survive the exodus?

After the withdrawal of seven of the 29 founding members of the Libra Association, the governing council for Facebook’s planned global cryptocurrency, the project’s fate  looks increasingly uncertain. PayPal, Visa, Mastercard, eBay, Stripe, Mercado Pago and Brooking Holdings have backed away from participation on the Libra Association; their hands were …

Here’s why there won’t be a quick enterprise blockchain revolution

While billions of dollars are being spent on blockchain, and that spending is expected to grow exponentially over the next five years, the distributed ledger technology will never spark a technology revolution in the enterprise where preference always favors centralized control. “I don’t think we will ever see a revolution …

Facebook’s Libra crypto backers step back amid regulatory pressure

Multi-national regulatory pushback against Facebook’s effort to create a cryptocurrency payment network is slowing the project and causing supporters such as Visa and Mastercard to back away, according to sources familiar with the situation and a published report. Along with the initial announcement of its Libra digital currency and Calibra …

How blockchain can help the coffee industry count beans

Historically, wholesale coffee prices have been volatile, fluctuating widely over time. In the past two years, coffee prices have dropped from a high of $1.55 per pound to a low of 87 cents. Currently, coffee is selling for 99 cents per pound. The volatility in coffee has been hard on …