Tech Brew Ride Home Tue. 06/19 – Is Facebook Now in Crypto... or Just Payments?
Jun 18, 2019
Facebook unveils its new cryptocurrency, Libra, sparking mixed reactions from Wall Street and the crypto world. Meanwhile, Amazon's Twitch acquires Bebo to strengthen its esports division. The decline of unmanned convenience stores in China raises questions about consumer interest. In real estate, Google's commitment to building affordable housing in the Bay Area highlights the ongoing housing crisis, while tech giants reshape the property landscape in Los Angeles.
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Facebook's Libra and Calibra
- Facebook launched Libra, a new cryptocurrency, managed by the Libra Association.
- Calibra, a Facebook subsidiary, will handle crypto dealings and ensure user privacy.
Wall Street's Skepticism
- Wall Street questioned Libra's revolutionary nature, viewing it as Facebook's entry into payments.
- They debated if Libra is truly crypto, given its backing by traditional financial assets.
Crypto Community's Analysis
- The crypto world analyzed Libra's details, including its unique blockchain structure and the "Move" programming language.
- Facebook's Libra draws inspiration from various crypto projects, combining elements like permissioned blockchains and proof-of-stake.