#CryptoCorner: Facebook (NASDAQ: $FB): “No Assurance” that Libra Will Launch, #Blockchain Debuts #Crypto Exchange The PIT, Pundi X and Samsung Integrate Each Other’s Blockchain Tech
#CryptoCorner: Facebook (NASDAQ: $FB): “No Assurance” that
Libra Will Launch, #Blockchain Debuts #Crypto Exchange The PIT, Pundi X and
Samsung Integrate Each Other’s Blockchain Tech
Point Roberts, WA, Delta BC July 30, 2019
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Stocks
discussed: (NasdaqGS:FB) (KSE:005930)
In a recently published quarterly report, Facebook (NasdaqGS:FB) has conceded that its
cryptocurrency project, Libra, may never actually see the light of day. The
report details the “significant scrutiny from governments and regulators”
incurred by the company following the announcement of Libra and frankly
discusses the challenges this presents to the realization of the project. An
excerpt reads:
“…market
acceptance of such currency is subject to significant uncertainty. As such,
there can be no assurance that Libra or our associated products and services
will be made available in a timely manner, or at all. We do not have
significant prior experience with digital currency or blockchain technology,
which may adversely affect our ability to successfully develop and market these
products and services. We will also incur increased costs in connection with our
participation in the Libra Association and the development and marketing of
associated products and services, and our investments may not be successful.
Any of these events could adversely affect our business, reputation, or
financial results.”
CNBC reports that crypto wallet platform
Blockchain has launched a high-speed cryptocurrency exchange called The PIT,
which aims to rival the top companies in the field. Blockchain CEO Peter Smith
said The PIT could execute buy or sell orders in “40 to 50 microseconds,” which
is an “order of magnitude faster than other market players” like Coinbase and
Binance. Nicole Sherrod, head of trading products at Blockchain, told CNBC:
“In
volatile markets in particular, speed is of utmost importance. I would not feel
comfortable delivering a platform to retail investors that puts them in a
position where they couldn’t get in and out of a trade with lightning-fast
speed.”
Blockchain solutions
provider Pundi X and Samsung (KSE:005930) have integrated tech from each other
relating to blockchain wallet applications, according to a blog post yesterday. Specifically, Pundi X has
integrated the Samsung Blockchain Wallet, and Samsung has adopted the Pundi X
XWallet app. An excerpt from the press release reads:
Samsung
Galaxy S10 users can now add the XWallet app to their Samsung Blockchain
Wallet. Users can move cryptocurrencies stored in the Samsung Blockchain Wallet
into the XWallet, which they can then use as a checking account for instant
crypto transaction with Pundi X’s global payment ecosystem. For XWallet users
who use Samsung Galaxy S10, they will also have more options by adding Samsung
Blockchain Wallet to their XWallet app. They will be able to choose to store
their digital assets securely in Samsung Blockchain Wallet, like a saving
account.
Filipino bank UnionBank
has launched its own digital currency, according to local outlet PhilStar Global. Called PHX, the currency
is a stablecoin built on the company’s i2i platform, which stands for
island-to-island, institution-to-institution, and individual-to-individual. i2i
is UnionBank’s clearing system that connects rural banks through blockchain
technology.
Sam
Mowers, Investorideas
Read other editions of the Crypto Corner
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