Facebook introduces a new cryptocurrency Libra as a fresh medium of exchange for e-commerce.
Dan Rochefort

2019-07-21 09:37:00 Sun ET

Facebook introduces a new cryptocurrency Libra as a fresh medium of exchange for e-commerce. Libra will be available to all the 2 billion active users on Facebook, Messenger, Instagram, and WhatsApp. This new cryptocurrency has tremendous potential to change how people save, spend, and send money. As a new medium of exchange, Libra helps facilitate key e-commerce auctions and other transactions within the core Facebook social network ecosystem. As a new store of value, Libra exhibits less extreme price volatility than several other cryptocurrencies such as Bitcoin and Ethereum.

Facebook launches the digital wallet company Calibra as a key third-party payment gateway in collaboration with PayPal, Stripe, Visa, MasterCard, American Express, eBay, Spotify, Uber, and Lyft etc. At inception, Calibra records all the Libra digital transactions on a public blockchain. This blockchain can serve as a tamper-proof ledger that runs across multiple computer servers to preserve consumer privacy. When cryptocurrencies become more popular, money supply growth may decline to the extent that the central bank can better curb price inflation and wage growth in a cashless society.

In terms of macroeconomic implications, the central bank and fiscal authority can better manage the trade-offs among price stability, economic growth, employment, capital accumulation, and financial market stabilization.

 


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U.S. regulatory agencies may consider broader economic issues in their antitrust probe into Amazon, Apple, Facebook, and Google.
Joseph Corr

2019-07-03 11:35:00 Wednesday ET

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AYA fintech finbuzz illustrative video tutorials on YouTube
Amy Hamilton

2019-05-05 10:46:10 Sunday ET

AYA fintech finbuzz illustrative video tutorials on YouTube

This video collection shows the major features of our AYA fintech network platform for stock market investors: (1) AYA stock market content curation;&nbs

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The Economist digs deep into the political economy of U.S. government shutdown over 3 days in January 2018.
Apple Boston

2018-01-13 08:39:00 Saturday ET

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U.S. senators urge the Trump administration to prevent the IMF from bailing out several countries that face predatory Chinese loans.
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2018-02-01 07:38:00 Thursday ET

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Amazon CEO Jeff Bezos admits the fact that antitrust scrutiny remains a primary imminent threat to his e-commerce business empire.
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2019-04-17 11:34:00 Wednesday ET

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Google CEO Sundar Pichai makes his debut testimony before Congress.
John Fourier

2018-12-15 14:38:00 Saturday ET

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