#CryptoCorner: Libra Association Announces Libra Bug Bounty Program, Facebook ($FB) Hires Lobbying Firm FS Vector for Libra, ASX Teams with VMware and Digital Asset

#CryptoCorner: Libra Association Announces Libra Bug Bounty Program, Facebook ($FB) Hires Lobbying Firm FS Vector for Libra, ASX Teams with VMware and Digital Asset

Point Roberts, WA, Delta BC, August 27, 2019 - Investorideas.com, a leader in crypto and blockchain investing news brings you today’s edition of the Crypto Corner podcast and commentary on what’s driving the cryptocurrency market.

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August 27 Crypto Corner

Stocks discussed: (NasdaqGS:FB) (NYSE:VMW)

Facebook’s (NasdaqGS:FB) Libra has today announced the Libra Bug Bounty program, wherein developers can alert the Libra Association to bugs in exchange for a reward worth up to $10,000. A description from the announcement reads:

It enables developers to submit bugs and alert the association to security and privacy issues and vulnerabilities to help ensure a scalable, reliable, and secure launch.
The program will encourage many more people with diverse skills and backgrounds to inspect and review the blockchain design and implementation. The Libra Bug Bounty program is part of a larger ongoing effort to build an open and vibrant community of security and privacy developers around the globe.

Facebook has hired Washington-based lobbying firm FS Vector for support on “issues related to blockchain policy,” according to a report from O’Dwyer. Facebook’s account will be led by FS Vector partner John Collins, who worked as the head of policy at Coinbase from September 2014 to January 2016 and formerly served as vice president of international policy at the American Bankers Association’s international subsidiary, the Bankers Association for Finance and Trade.

The Australian Securities Exchange (ASX) has signed a three-party memorandum of understanding (MoU) with fintech firm Digital Asset and VMware, Inc. (NYSE:VMW), according to a report from ZDNet. The MoU will reportedly allow the companies to provide distributed ledger technology (DLT) solutions for customers in Australia and New Zealand, and replace the existing Clearing House Electronic Subregister System (CHESS) platform. ASX deputy CEO Peter Hiom said:

"This new partnership is a very positive development that will help us support a wider range of DLT solutions developed by the industry. It confirms our belief in the potential of DLT as we remain on track to deliver the CHESS replacement system in March-April 2021.”

The Swiss Financial Market Supervisory Authority (FINMA) has granted banking and securities dealer licences to digital asset firms SEBA and Sygnum, according to official announcements from both firms, respectively. Andreas Amschwand, Chairman of the Board of SEBA, commented:

“The banking licence of the Swiss Financial Market Authority FINMA is not only a milestone for SEBA, it sets a new standard for banking in the Blockchain and digital asset economy. This moment has significance far beyond the Swiss financial industry.”

Luka Müller-Studer, Co-Founder and Chairman of Sygnum, commented:

“To date, a lack of institutional-grade custody and a truly integrated banking solution has slowed the adoption of digital assets by institutional investors. Today’s licence announcement is a game-changer. By methodologically incorporating digital assets into traditional banking, and injecting much needed DLT-driven agility, Sygnum is accelerating the development of an important new asset class.”

Sam Mowers, Investorideas

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