This past week has seen some huge developments in the cryptocurrency space, with social network giant Facebook publishing the long-awaited whitepaper for its stablecoin Libra. In our latest edition of The Weekly Show, we caught up with BloxLive TV to discuss this potentially huge development for the crypto space and more.
Here is a breakdown of what we discussed.
Facebook: The Potential Pros and Cons of the Libra Network
This week, Facebook finally released the whitepaper of its new stablecoin, Libra. As Finance Magnates reported, the standout features of the Libra is that it will allow its users to buy things and send money anywhere with almost zero wait time and absolute zero fees – a couple of features that the Bitcoin network is still lacking.
But what does this really mean for the crypto space? Well, it could mean many things, with one of them being mainstream adoption. Facebook has a huge influence over today’s society and the social network might be able to achieve what Bitcoin and other top cryptos haven’t been able to quite manage yet.
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Not only that, but due to the large scale of the project, it could also force regulators to clear up any legal uncertainties regarding digital assets – which could be a big boost for the sector.
But does this mean that Facebook’s crypto will only be good news for the industry? Well, that’s yet to be seen – but there have been a few concerns that have risen. Some of these concerns include data protection and privacy – something Facebook hasn’t had the best track record with, as well as the company’s tendency to take over the competition in the markets it operates in.
All this and more was discussed in our latest edition of The Weekly Show.
BnkToTheFuture Buys Altcoin.io DEX
Fintech investment platform BnkToTheFuture has acquired Altcoin.io, a San Diego-based cryptocurrency decentralized exchange. BnkToTheFuture, will tap into Altcoin.io’s proprietary trading software to launch a non-custodial security tokens platform, which is slated to launch in 2020.
These type of exchanges have become quite popular in the crypto community as the environment allows for a higher degree of anonymity and security.