#CryptoCorner: Calibra CEO Defends Libra (NASDAQ: $FB) in Twitter Thread, Deutsche (NYSE: $DB) Bank Joins JPM’s (NYSE: $JPM) IIN, HTC Adds BCH Support on #Blockchain Phone
#CryptoCorner: Calibra CEO Defends Libra (NASDAQ: $FB) in
Twitter Thread, Deutsche (NYSE: $DB) Bank Joins JPM’s (NYSE: $JPM) IIN, HTC
Adds BCH Support on #Blockchain Phone
Point Roberts, WA, Delta BC September 16,
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Stocks discussed: (NasdaqGS:FB) (NYSE:DB) (NYSE:JPM)
(TWSE:2498)
David Marcus, CEO
of Calibra, – the digital wallet of Facebook’s Libra (NasdaqGS:FB) – argued in a Twitter thread that the social
media giant’s proposed cryptocurrency would not threaten central bank and
national sovereignty over currency. Marcus claimed that because Libra, as a
stablecoin, comprises a basket of existing currencies, it will rely on there
being national currencies, as opposed to seeking to replace them.
Libra will be backed 1:1 by a basket of strong
currencies. This means that for any unit of Libra to exist, there must be the
equivalent value in its reserve. As such there's no new money creation, which
will strictly remain the province of sovereign Nations.
He went on to say:
We will continue to engage with Central Banks,
Regulators, and lawmakers to ensure we address their concerns through Libra's
design and operations. Separately, I'm looking forward to the Libra Association
taking on full leadership of the project soon after its charter has been
ratified so I can focus on building @calibra.
CoinDesk reports that
Deutsche Bank (NYSE:DB), Germany’s
largest bank, has joined JPMorgan’s (NYSE:JPM) blockchain
payments initiative. This brings the total number of banks signed up for the
initiative, called the Interbank Information Network (IIN), to 320. An excerpt
from the article reads:
Takis Georgakopoulos, managing director of treasury
services at JPMorgan, told the newspaper that, since IIN would have “very big
natural limitations” if IIN members were only drawn from the bank’s client
pool, the addition of Deutsche Bank “is going to help us drive towards
ubiquity.”
IIN brings efficiencies by writing all the data on
payments a shared ledger, thus allowing problematic payments to be resolved
more quickly and with less manual processes, said Deutsche Bank’s global head
of cash management, Ole Matthiessen.
Taiwanese
electronics giant HTC (TWSE:2498) has added native Bitcoin
Cash (BCH) support to its
Exodus 1 blockchain smartphone. In an interview with Bitcoin.com, HTC’s
Decentralized Chief Officer Phil Chen explained:
“Smartphones are everywhere and have proliferated
across the planet. It’s very important for the adoption of crypto that it is
easy to store and use, no matter which cryptocurrency is preferred by people.
So the fact that BCH, one of the biggest cryptocurrencies, is now easy to use
on our smartphone is very important for us. Together, HTC and Bitcoin.com are
helping to bring crypto to the masses.”
German crypto
startup Neufund has been approved to launch public offerings for its blockchain
platform by the Financial Monetary Authority in Liechtenstein, according to a
report from Cointelegraph. The offering will
allow easy accessibility, with minimum investments being as low as €10 EUR.
Sam Mowers,
Investorideas
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