Facebook’s Calibra is a secret weapon for monetizing its new cryptocurrency

 

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The newly formed subsidiary will build Facebook’s digital wallet

Facebook’s announcement this morning of a new cryptocurrency, Libra, and the nonprofit association that will oversee it raises questions about the future of global banking and Facebook’s role in it. But behind Facebook’s ambitions to create a quasi-nation state ruled by mostly corporate interests is a secret weapon, one the company hopes it can use to create another platform used by billions of people — and generate enormous new revenue streams along the way.

It’s called Calibra, and it’s a new subsidiary of Facebook the company is launching to build financial services and software on top of the Libra blockchain. At first blush, Calibra resembles a fairly standard payments company — but its tight integration with Facebook’s enormous user base could give it a significant advantage over any rivals. Thanks to its proximity to the technical development of Libra, and its ability to leverage WhatsApp, Messenger, and Instagram, Calibra could very well become Facebook’s next big thing.

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Fiat vs Cryptocurrency: Pros and Cons

 

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While some early adapters may not need convincing to join the cryptocurrency craze, others are left wondering, what exactly is it good for? I can’t put it in my bank, I can’t use it at (most) stores, what can I do with cryptocurrencies? Before we get into the ins and outs of cryptocurrency and how it can be used, first let’s look at some of the similarities and differences between fiat and cryptocurrency.

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4 Blockchain projects solving real-world problems

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From wealth management to autonomous robots: four prominent startups at the end of 2018

Investors are no longer interested in ICO projects with no real use. According to Icodata, $150 million were raised in October 2018 through token sales compared to $1.5 billion in January of the same year. “The blockchain space is getting to the point where there’s a ceiling in sight,” claims Ethereum co-founder Vitalik Buterin. The Russian-Canadian programmer believes that the next step will be “real applications of real economic activity.”

Despite the statements and hopes that the end of 2018 will bring about a return to practicality, it is still difficult for applicable projects to break through the information noise. We have picked out four noteworthy blockchain projects that have not yet gained traction in the media, despite featuring a range of out-of-the-box solutions.

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World’s first cryptocurrency bank opened in Singapore

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The co-Founder of Nuo, Varun Deshpande announced on twitter that they are opening a bank in Singapore. This is not just a normal bank but a virtual bank for cryptocurrencies. He also stated that they will open an ATM for virtual digital money as well.

They are also introducing a new technology- Advanced Robotic Account Managers (AARAM). What so fascinating about this bank is that this bank doesn’t need a real manager or a banker. Customers will be personally managed by AARAM at their branch. AARAM can give answers to the queries of users of the bank regarding cryptocurrency prices, private keys, decentralized loans, etc. Also, users can book their own AARAM by installing bank app and signing up for the app. It is a completely automated and decentralized bank which ensures no queues at all times. All users from around the world can avail services at no extra cost by visiting the branch.

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Would Amazon accepting bitcoin lead to the breakthrough of cryptocurrency

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Unverified rumors that Amazon (AMZN) will start accepting Bitcoin (COIN) (OTCQX:GBTC) have been shaking cryptocurrency communities lately. Though these rumors might prove to be untrue in the end, facts are that there seems to exist lots of demand for this new way of payment. There even was an online petition to convince Jeff Bezos to adopt Bitcoin as an accepted way of payment at Amazon.

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Six banking giants just decided to partner to create a new crypto currency

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Financial institutions have been taking a good hard look at blockchain, and now, six of the world’s biggest banks have decided the best way to take advantage of the decentralized, distributed digital ledger technology is by partnering on their own cryptocurrency.

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Why is the Kremlin suddenly obsessed with crypto currency

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In early June, Russian President Vladimir Putin attended the annual St. Petersburg International Economic Forum. The headline moment at the event was a wide-ranging and at times combative interview with Megyn Kelly. But Putin quietly made news in another way—he signaled an official volte-face on the issue of cryptocurrencies, digital financial instruments such as bitcoin.

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Disrupting Government – Why Countries Will Soon Have to Compete for their Citizens

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Futurist Thomas Frey: In 2002, Roger Ver was honing his entrepreneurial skills by selling products on eBay. It was in the aftermath of the Twin Towers disaster when one of his products called “Pest Control Report 2000” hit the radar of Homeland Security and he was charged and convicted of selling 14 pounds of explosives without a license.

 

 

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