First withdrawal from partner company supporting Facebook's own virtual currency `` Libra ''


Jan Tinneberg

Facebook's completely new virtual currency “ Libra ” will become a new currency and payment service to save 1.7 billion “people without bank accounts”, which is equivalent to about 31% of the world population. It is what we aim for. The “Libra Association” was established to operate the Libra, but the first withdrawal from the member companies of this association came out.

PayPal is the first company to drop out of the Facebook-led Libra Association | TechCrunch

In June 2019, Facebook proposed its own virtual currency 'Libra'. Although Libra is a virtual currency proposed by Facebook, it is not “Facebook operates by itself”, nor is it a “perfect decentralized currency where each user holds a transaction record” like Bitcoin. Libra is a virtual currency that is assumed to operate in a fully co-ordinated system with partner companies belonging to the Libra Association, and at the time of announcement, in addition to Facebook, leading companies in the world such as Visa, MasterCard, Uber, Lyft, eBay, Spotify, PayPal Had a name.

Facebook announces its own virtual currency `` Libra '' & dedicated wallet application `` Calibra ''-GIGAZINE

Virtual coins such as Bitcoin can form a very strong blockchain because all users have transaction records. However, Libra is less distributed as a blockchain because the companies that belong to the Libra Association are only nodes for each processing. However, David Marcus, CEO of Calibra, who develops a dedicated Wallet app for Libra, is important to start the service on a reliable node, and the number of member companies to the Libra Association will be 100 by the start of the service. It is said that sufficient dispersibility can be secured.

The official answer to the question about virtual currency `` Libra '' announced by Facebook-gigazine

by Tumisu

To such Libra, France and Germany, the two major economic powers in Europe, have revealed that their policy is to block completely. At the same time, it was reported that severe scrutiny was received from regulators and central banks around the world, and it was reported that two companies that are members of the Libra Association are considering withdrawal .

Facebook's original virtual currency `` Libra '' has been decided to be blocked from France and Germany & has undergone rigorous investigation from central banks of each country-GIGAZINE

Finally, the first withdrawal company from the Libra Association has appeared. The overseas media TechCrunch reports that the first departure from the Libra association is PayPal, an online payment service. TechCrunch has received a statement from PayPal via email.

PayPal said in the statement: “We continue to support Libra's goals and look forward to ongoing dialogue on how to work together in the future. Facebook is a long-lasting and valuable strategy for PayPal. A partner, and partnership and support will continue in various businesses. ”

The Libra Association has also published a formal comment on the withdrawal of PayPal. “To promote an ambitious project like Libra requires a certain daring and indomitable spirit. Libra is the next generation opportunity to get things right and improve financial inclusion. The journey to establish this Libra is long and challenging, it is very difficult to restructure the financial system to benefit people, not to themselves. ”Libra ’s commitment to the mission is of utmost importance to us, and not committing to our mission is better to know now than to know later” I'm leaving a very ironic comment.

There was a PayPal logo in the lower right on the partner company list released at the beginning of Libra announcement ...

At the time of writing the article, it disappears from the list of partner companies.

The Wall Street Journal reports that Mastercard, Visa, and other companies are considering leaving the Libra association as well as PayPal, and Libra has been in a difficult situation before the service was launched. When TechCrunch asked for comments, Mastercard didn't respond, but Visa's CEO Al Kelly issued a statement highlighting tentative support for Libra, and regulations and other issues do not interfere As long as the current support will continue.

In the statement, Kelly said, “We signed a non-binding agreement regarding participation in Libra. We were one of the companies that signed the agreement and showed interest (Facebook 27), but this is a non-binding agreement and no company has officially participated yet, we are in discussion and the final decision on whether to participate The decision will depend on many factors, including whether the association has the ability to meet all the necessary regulatory requirements, and Libra is still very early in the process, and will eventually decide whether or not to participate. There is a tremendous amount of challenges that must be cleared, and we believe that we have expressed interest and that our very existence will provide additional help to the association. '

by Alina Grubnyak

In addition, in a Nikkei newspaper interview , Mark Zuckerberg, Facebook CEO who advocated Libra, said , “Many people have questions and concerns. If we do something that is sensitive to society, we would like to have a period of crushing the problem, 'even if it was later than the originally scheduled 2020 service start. , Says that it is important to crush the concerns that are concerned one by one.

in Web Service, Posted by logu_ii