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Related: About this forumFacebook's Libra Association crumbling as Visa, Mastercard, Stripe, and others exit
Source: The Verge
Facebooks Libra Association crumbling as Visa, Mastercard, Stripe, and others exit
One week after PayPal left the project
By Russell Brandom Oct 11, 2019, 4:01pm EDT
Visa, Mastercard, eBay, Stripe, and Mercado Pago have all withdrawn from the Libra Association, dealing a major blow to Facebooks plans for a distributed, global cryptocurrency. The withdrawals were first reported by the Financial Times and Bloomberg.
A Visa spokesperson told The Verge. Visa has decided not to join the Libra Association at this time, the spokesperson said. We will continue to evaluate and our ultimate decision will be determined by a number of factors, including the Associations ability to fully satisfy all requisite regulatory expectations.
The withdrawals leave Libra with no major US payment processor, a serious issue for the fledgling project. They also come just one week after PayPal (eBays former subsidiary) withdrew from the association.
The first official meeting of the Libra Council is in just three days, scheduled for October 14th in Geneva. That meeting will likely result in more specific commitments from all the members involved, which may have inspired some of the recent defections. Still, the departures leave the project in a precarious place as Libra hopes to move beyond initial criticisms of the project.
-snip-
One week after PayPal left the project
By Russell Brandom Oct 11, 2019, 4:01pm EDT
Visa, Mastercard, eBay, Stripe, and Mercado Pago have all withdrawn from the Libra Association, dealing a major blow to Facebooks plans for a distributed, global cryptocurrency. The withdrawals were first reported by the Financial Times and Bloomberg.
A Visa spokesperson told The Verge. Visa has decided not to join the Libra Association at this time, the spokesperson said. We will continue to evaluate and our ultimate decision will be determined by a number of factors, including the Associations ability to fully satisfy all requisite regulatory expectations.
The withdrawals leave Libra with no major US payment processor, a serious issue for the fledgling project. They also come just one week after PayPal (eBays former subsidiary) withdrew from the association.
The first official meeting of the Libra Council is in just three days, scheduled for October 14th in Geneva. That meeting will likely result in more specific commitments from all the members involved, which may have inspired some of the recent defections. Still, the departures leave the project in a precarious place as Libra hopes to move beyond initial criticisms of the project.
-snip-
Read more: https://www.theverge.com/2019/10/11/20910330/mastercard-stripe-ebay-facebook-libra-association-withdrawal-cryptocurrency
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Facebook's Libra Association crumbling as Visa, Mastercard, Stripe, and others exit (Original Post)
Eugene
Oct 2019
OP
RainCaster
(10,884 posts)1. The project is doomed from the start
Facebook knows so little about privacy, and in fact, they strip it out and monetize the lack of privacy. Then there is the issue of security, and there, FB is clueless as well.
Renew Deal
(81,863 posts)2. E-coin
brush
(53,791 posts)3. Thank God! Stop Zuckerberg before he gets even more power. He's already got personal info...
on billions of people that he sells. Plus he let's repugs use it. Before we know he may become the dictator trump wants to be, but one with information, tech expertise and money to get anything done he wants.