TL;DR: Welcome to In Case You Missed It (ICYMI), a daily crypto news update. Facebook’s Libra draws opposition from Europe. JP Morgan builds a secret digital banking project in London. China partners with Alipay to implement blockchain bill payments. YouTube “too big to fix.” Austria Post to issue Ethereum crypto stamps. USDT “extremely healthy” compared to other stablecoins, and CoinMarketCap DATA initiative adopted by 70% of exchanges.
Facebook Libra Draws Opposition from Europe Ministers
Facebook’s Libra, the cryptocurrency proposed by the social network behemoth, has been presented via its whitepaper to the world, but not all reactions were rosy for the project. France finance Minister Bruno Le Maire called for a revision of what this project currently represents, and said it could not be considered a sovereign currency in any case. Markus Ferber, a member of the European parliament also criticized the idea of Libra, and mentioned it could turn into a shadow bank, with more than 2 billion users and no effective deep fake detection.
JP Morgan Building Secret Digital Banking Project in London
JP Morgan, one of the biggest banks in the whole world, is now hiring personnel to start a secretive fintech project that will be based in London. JP Morgan is making their new employees sign NDA’s to hold the info tightly. The staff hired is comprised of full stack web developers and cloud engineers, making experts think this endeavor is focused on an online platform or a digital-only bank to compete with other startups.
China Partners With Alipay to Bring Blockchain Payments to Zhejiang
The government of the province of Zhejiang has partnered with payments behemoth Alipay to establish a blockchain based payments platform for different functions. The joint effort will allow Chinese citizens to pay a variety of bills, including utilities such as power and hospital services. Also, the entire paying history of every citizen will be kept in the blockchain, allowing for an easy follow up of expenses made. A similar platform was built in Taizhou, another province of the country, with great results.
YouTube “Too Big To Fix”, According to Sundar Pichai
YouTube tried to filter harmful content on its platform with new regulations and measures. But, at this point and with its size it might be impossible. At least this is the thought of Sundar Pichai, CEO of Google, who has declared that it could be too big to fix. “Anything when you run at that scale, you have to think about percentages,” he acknowledged.
Ethereum Crypto Stamps Issued by Austria’s Postal Service
Austria’s Postal Service will launch a special crypto ṕroject that will deliver users a tokenized stamp to be visualized on the Ethereum public blockchain. The project will also contemplate delivering to customers a physical version. Stamps will be available in five different colors and will retail at 6.90 euros.
USDT “Extremely Healthy” Compared to Other Stablecoins
USDT, the most popular stablecoin today, has been rated “Extremely healthy” according to an analysis by LongHash. While it’s true there are still doubts about the backing of every USDT token, and its parent company has been sued by the New York General Attorney, they have several key advantages over newer stablecoins. The most important one lies in its relative decentralization and presence on several exchanges all over the cryptosphere, while others are still tied to a particular exchange.
CoinMarketCap Transparency Initiative Has Been Followed by 70% of Exchanges
The transparency initiative pushed by CoinMarketCap, called DATA (Data Accountability & Transparency Alliance), has been implemented by most exchanges, according to a statement offered by the startup. 70% of the exchanges agreed to disclose more of their data to comply with CoinMarketCap requirements. “The new and detailed criteria for listings will provide clear and concrete guidelines for everyone looking to be listed on CoinMarketCap,” declared Carylyne Chan, CMC’s head of marketing. Despite this, projects that haven’t disclosed their info will still appear on the site.
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