When Libra was released on June 18, seems to be a fantastic new face on Facebook for megalomaniacal enlargement. With billions of users and tens of billions of dollars in annual revenue, the company has already taken over the reins. Blockchain CEO David Marcus outlined his plan for Libra in a detailed document, with some of the world’s strongest lending companies signing up to help raise funds as part of Libra. the Relationship. Facebook’s view of global money, according to its company partners, cannot be overstated.
At that time. The first Libra ticket from Paypal, was picked up on October 4. Within two hours on October 11, Visa, Mastercard, Raya, and Mercado Pago were all shipped for the event, with an eBay token for the best measure. That means the connection has left the United States’ most expensive processors. (The last remaining payment processor, PayU, did not respond to multiple requests for comment.) The startup is a reversal of the project’s Facebook-copy, with the first month sign that Libra has been bitten by May Builders are bigger than him. you can chew.
The loss of five companies in a couple of hours may seem like a huge surprise running through the door, but this time around is the big deal. On October 14, all indigenous members will meet in Geneva for the first meeting of the Libra Council. This is where the various activities of the foreign parties go hand in hand with hammers and drills to address government issues that are not set out in the first section of the white paper. As a result, it is the formal version of the letter, with each member signing their name for the new contract.
Such a requirement involves a number of independent decisions from specific groups – so if one has doubts, the best time to appear is before the letter is signed. It also means that speed is not exactly the same as bad weather. Anyone who wants to sign his name on the letter, now he has a chance.
This group of companies just had to get cold feet. With the exception of eBay, which is a full-time accountant, it typically has specific operating requirements related to fraud, money laundering, and enforcement. At first the governments realize that the balance may be difficult to meet the requirements and payment processing and then take the hook.
As Senators Schatz and Brown wrote To the three companies that go, “Facebook wants the benefits of being involved in financial services without having the responsibility to operate as a financial services company.” The point was clear: if Libra works too easily for terrorists and money changers, Visa, Mastercard and others, it could be a problem.
That’s a terrific idea for payment processors, seeing the corporate office lost on management. But for other Libra Association companies, that is not a problem. The first merger includes a variety of firms, including charities, private equity firms, and service providers such as Lyft and Uber. Those companies do not have the same pressure from the executives, so there is no single benefit for reducing output.
However, the problems with payment processing indicate that there is a serious problem in the Libra project, which one may not be able to resolve. Blockchain-copying funds are ideal for individual systems, but there are still a lot of problems that arise in areas that are attached to conventional banks. In the early days of Bitcoin, transaction processors were often prosecuted for failing to argue for money laundering – something that most pioneer companies have yet to consider. Only then will U.S. regulators be able to validate Global Buyer requirements from suppliers ’wallets. Collections and organisms are the most important and legal part of a new monetary policy – Libra is no different.
At first glance, Libra attributed the discount rates to payment processors, hoping that Visa and Mastercard would be able to handle the difficult fulfillment requirements in trading currencies for the Pound. But after Friday’s big release, which is not an option, and the partnership law that included the first batch of processors, others will also suffer. The man who succeeds in that task has a great task ahead of him, to persuade governments around the world to clear the way for Libra when public confidence in him has not diminished significantly. Facebook. This is not the end for the sign of Libra, but the difficult path ahead is turning – and it gets harder.