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New Head of China’s Digital Currency Says It Beats Facebook Libra on Tech Features

중국 디지털 통화의 새 책임자, 중국 디지털 통화는 기술 기능면에서 페이스북 리브라를 능가한다고 말하다

The Chinese central bank has a new digital currency chief who says its upcoming digital yuan has features not offered by Facebook Libra.

Changchun Mu – previously deputy director of the payments and settlement division at the People’s Bank of China (PBoC) – recently stepped into the lead role at the Digital Currency Research Institute, reports Shanghai Securities News.

According to the state-run news source, Mu recently published details on PBoC’s digital currency – apparently being carried out in a secret office away from the bank’s Beijing headquarters – describing it as a digital currency and electronic payment tool with “value characteristics.”

“Its functional attributes are exactly the same as paper money, but it is just a digital form,” Mu said.

Perhaps most notably, he set out some of the digital currency’s technical aspects, and compared it with Facebook’s Libra.

Businessman with cash yuan Premium Photo — ( source: https://www.freepik.com )

중국 중앙 은행에는 새로운 디지털 통화 책임자가 있으며 다가오는 디지털 위안화에는 Facebook Libra가 제공하지 않는 기능이 있다고 말합니다.

상하이 증권 뉴스 (Shanghai Securities News)에 따르면, 중국 인민 은행 (PBoC)의 결제 및 결제 부서 부국장 인 Changchun Mu가 최근에 디지털 통화 연구소에서 책임자 역할을 맡게 되었다고 합니다.

국영 뉴스 소스에 따르면, Mu는 최근 은행의 베이징 본사에서 멀리 떨어진 비밀 사무소에서 수행하고있는 PBoC의 디지털 통화에 대한 세부 사항을 공개했는데, 이를 “가치 특성”을 가진 디지털 통화 및 전자 결제 도구로 설명하고있다.

Mu는 “기능적 특성은 지폐와 정확히 동일하지만 디지털 형식 일 뿐이다”라고 말했다.

아마도 가장 주목할만한 점은 디지털 화폐의 기술적 측면 중 일부를 설정하여 Facebook의 리브라와 비교 한 것입니다.

PBoC’s digital yuan will be able to be transferred between users without an account and without a mobile or internet network, the report cites Mu as saying. Providing a user’s mobile phone has a wallet, the digital currency can be transferred to another person by placing the two phones in physical contact. Presumably, this feature is enabled by near-field communication (NFC).

“Even Libra can’t do this,” Mu said.

PBoC’s digital currency also doesn’t need a bank account to be used, and is “free from the control of the traditional bank account system,” Shanghai Securities News cites Mu as saying. He further suggested it allows users to preserve their privacy when using the system.

However, the digital currency will be delivered via commercial banks like fiat currency. The banks must open accounts with the PBoC and buy the token at 100 percent value. After that, users may open digital wallets for the digital currency through banks or commercial organizations.

Mu의 말에 따르면 PBoC의 디지털 위안화는 계정이나 모바일 또는 인터넷 네트워크없이 사용자간에 전송 될 수있을 것이라고 합니다. 사용자의 휴대 전화에 지갑이 있으면 두 개의 휴대 전화를 물리적으로 접촉시켜 디지털 통화를 다른 사람에게 양도 할 수 있습니다. 아마도이 기능은 근거리 무선 통신 (NFC)으로 가능할 것입다.

Mu는 “리브라조차도 그렇게 할 수 없을 것이다”라고 말했다.

PBoC의 디지털 통화는 또한 은행 계좌를 사용할 필요가 없으며 “전통적인 은행 계좌 시스템의 통제가 없다”고 Shanghai Securities News의 Mu 씨는 말합니다. 또한 사용자들이 시스템을 사용할 때 자신의 개인 정보를 보호 할 수 있다고 제안했습니다.

그러나 디지털 통화는 법정 통화처럼 상업 은행을 통해 전달됩니다. 은행은 PBoC로 계좌를 개설하고 100 % 가치로 토큰을 구매해야합니다. 그 후, 사용자는 은행이나 상업 조직을 통해 디지털 통화 용 전자 지갑을 열 수 있습니다.

According to the report, Mu added that the main reason for developing the digital currency is “planning ahead” to protect monetary sovereignty and China’s legal currency. That may be a hint that the advent of Facebook’s Libra is behind the sudden rush of development at the central bank.

Former People’s Bank of China (PBoC) governor Zhou Xiaochuan said in July that “Libra has introduced a concept that will impact the traditional cross-border business and payment system.”

As such, China should “make good preparations and make the Chinese yuan a stronger currency,” Zhou said.

보고서에 따르면 Mu는 디지털 통화를 개발하는 주된 이유는 통화 주권과 중국의 법정 통화를 보호하기위한 “미래 계획”이라고 덧붙였다. 페이스 북의 리브라의 출현이 중앙 은행의 갑작스러운 개발의 배후라는 힌트 일 수 있습니다.

Zhou Xiaochuan 전 중국 인민 은행 (PBoC) 총재는 7 월에 “Libra는 전통적인 국경간 비즈니스 및 지불 시스템에 영향을 줄 개념을 도입했습니다.”라고 말했습니다.

Zhou는 중국은 “잘 준비해서 중국 위안화를 더 강한 통화로 만들어야한다”고 말했다.

(Source: https://www.coindesk.com/new-head-of-chinas-digital-currency-says-it-beats-facebook-libra-on-tech-features )

Bitcoin ATMs by country

( 2019. 8. 31 16:00 GMT+9 )

This is the number of places where ATMs, which people can buy and sell Bitcoin for cash, are installed by country.
The United States is the largest, with 3,630 locations, with 690 locations in Canada, 265 in the UK, and 250 in Austria.
In East Asia, such as China, Japan, and Korea, where cryptocurrency trading volume is higher than other regions, there are only one or three places except for 42 in Hong Kong, and this seems to disprove that the government’s control over the financial sector is relatively high.

전세계 국가별로 비트코인을 현금으로 사고 팔 수 있는 ATM이 설치된 장소 숫자입니다.
미국이 3,630개소로 가장 많고, 캐나다가 690 개소, 영국이 265개소, 오스트리아가 250개 등, 북미와 유럽대륙에 집중되어 있습니다.
암호화폐 거래량이 타 지역보다 높은 중국, 일본, 한국 등 동아시아지역에는 홍콩의 42곳을 제외하고는 1~3개소에 불과하여 금융관련 부분에 대한 정부의 통제가 상대적으로 높다라는 것을 반증하고 있는 것 같습니다.

( Source : https://coinatmradar.com/countries/ )

Bitcoin ATMs range in price from as little as $ 3000 to as much as $ 14,500 depending on their function.

비트코인 ATM기기의 가격은 적게는 3000달러에서 많게는 14,500달러까지 그 기능에 따라서 다양합니다.

https://www.generalbytes.com/batmtwo/?utm_source=coinatmradar&utm_medium=shop

Telegram, to launch Gram token in October

The New York Times (NYT) reported in an article on August 27 that telegrams will launch a $ 1.7 billion cryptocurrency public offering (ICO) within two months.

In addition, one Telegram Open Network (TON) investor who knows well the news of Telegram team said Telegram plans to begin open testing of the platform on September 1st.

Telegram executives’ long-term goal is to provide the gram to all 300 million telegram users, the investor added.

If it is true, it means that Telegram launches a worldwide public digital currency over Facebook’s Libra. As the New York Times points out, little is known about grams technically, and regulators who reacted tremendously to Libra seem to be relatively uninterested in grams.

Authorities need to resolve regulatory issues

It is not yet known how Telegram plans to ease regulatory concerns, but this is not the first time the company has faced problems with grams.

According to Cointelegraph, Telegram canceled the public ICO in May 2018, and several companies are pushing unofficial sales of Gram tokens at sometimes inflated prices.

Telegram will also overtake the People’s Bank of China, which is preparing to issue its own cryptocurrency. In its announcement this week, the People’s Bank of China said it will launch digital money on November 11 this year.

( Source: https://kr.cointelegraph.com/news/bakkt-clients-can-start-warehouse-deposits-on-sept-6 )

Ethereum, can be the first public blockchain participating in Hyperledger Consortium?

Ethereum is expected to join Hyperledger for the first time in the public blockchain. However, the Technical Steering Committee under the Hyperledger Open Source Consortium must first approve ConsenSys’ acceptance of the Pantheon project set up by Ethereum co-founder Joseph Rubin.

Pantheon is a series of services that PegasSys has built on Ethereum. Pegasis is a team of about 50 consensus developers. The Java-based Pantheon Ethereum client is used to develop enterprise applications with features such as privacy protection and authorization.

If the acceptance is passed, Pantheon’s protocol will be controlled by the Hyperledger Consortium, along with IBM’s Hyperledger Fabric and Intel’s Hyperledger Sawtooth.

As is known, the Pantheon is expected to be the first public blockchain project to enter Hyperledger Umbrella. Thus, the Pantheon code is open to Hyperledger’s GitHub, allowing all developers to contribute.
The Pantheon works on the Ethereum public network and test networks such as Rinkeby, Ropsten, and Görli.

Hyperledger’s courtship towards Ethereum dates back to Burrow, the third of its implementation in April 2017. The Hyperledger Consortium also decided in October last year to establish a common blockchain standard with the Ethereum Business Alliance and to collaborate to create a wider open source community.

On the other hand, R3, a competitor of the hyperledger enterprise blockchain, has aggressively recruited talent last month, doubling the size of its London office and creating a second development hub.

( source : The Block Post )

https://blockpost.com/coindesk/48563/

Brian Kelly, expects Bitcoin’s market cap to rise fivefold

Brian Kelly, a cryptocurrency fund manager and a hardliner on Bitcoin, predicted: “Bitcoin is finally trading with macro assets and in the long run, it will be able to rise about five times the current market cap.”

According to Bitcoin Exchange Guide, a cryptocurrency special media on August 9 (local time), BK Capital Management (BKCM LLC) CEO and Founder Brian Kelly appeared on CNBC’s Fast Money program, saying that “traditional investors have put Bitcoin to gold. “We are using it as an alternative or complementary measure, and using it as a macro hedge.”

He added, “Bitcoin is becoming a macro hedging tool for the global financial crisis, including the Hong Kong protests and the devaluation of the renminbi. Especially in the US-China trade and exchange rate wars, Asia (especially South Korea, Vietnam and most Southeast Asia) is hotbed for bitcoin and cryptocurrencies, and capital flight is taking place.”

Kelly explained, “If Bitcoin was a startup in 2019, it’s going through a commodity stage that’s much more like gold. Eventually, it will be in the currency phase and increasingly used as a medium of exchange.”

“Bitcoin can still survive as digital gold,” he said. “The current market capitalization of gold is $ 10 trillion and Bitcoin is worth $ 200 billion. If Bitcoin followed only 10% of the gold market capitalization, it could rise five times over. ”

Earlier in last May, Brian Kelly said in an interview, “Bitcoin price will increase one more time over the next few months due to the reduced supply of Bitcoin.” and “Because a lot of miners’ bitcoin collection, supply decreases and demand increases,” he diagnosed. “I recommend allocating 1% to 5% of the portfolio to cryptocurrencies,” he added.

On the other hand, according to the Coin Market Cap, relay site of overseas cryptocurrency market status, the global price of bitcoin (BTC) is trading at about $ 11,448 as of 1:20 pm on the 12th (Korea time), up 0.51% compared to 24 hours ago. The 24-hour trading volume is about $ 15.1 billion, and its market cap is about $ 209.4 billion. Bitcoin’s market cap is 68.5%.

브라이언 켈리 “비트코인, 매크로 헤지수단 부상…시총 5배 상승 전망”

비트코인(BTC) 강세론자이며 암호화폐 펀드 매니저인 브라이언 켈리(Brian Kelly)가 “비트코인이 마침내 거시적인 자산(macro asset)과 같이 거래되고 있다”면서 “장기적으로 현재 시가총액의 5배 가량 상승할 수 있을 것”이라고 전망했다.

9일(현지시간) 암호화폐 전문 미디어 비트코인익스체인지가이드에 따르면, BK 캐피탈 매니지먼트(BKCM LLC) 최고경영자(CEO) 겸 창업자인 브라이언 켈리는 CNBC의 패스트 머니(Fast Money) 프로그램에 출연해 “전통적인 투자자들이 비트코인을 금(gold)에 대한 대안이나 보완책으로 거래하고 있고, 매크로 헤지(macro hedge)로 활용하고 있다”면서 “2019년은 비트코인이 세계 금융 무대에서 큰 전환점을 맞이한 한 해다”고 진단했다.
그러면서 그는 “비트코인이 홍콩 시위와 위안화 평가절하 등 글로벌 금융 위기에 매크로 헤지(위험회피) 수단이 되고 있다”면서 “특히 미중 무역 및 환율 전쟁으로 인해 아시아(특히 한국, 베트남 및 대부분 동남아시아)가 비트코인과 암호화폐에 온상(hotbed)이 되고 있으며 자본 도피(capital flight)가 이뤄지고 있다”고 설명했다.

켈리는 “2019년에 비트코인이 스타트업이었다면 현재는 금과 훨씬 더 비슷한 상품(commodity) 단계를 거치고 있다. 결국 통화(currency) 단계에 이를 것이고 점점 ‘교환의 매개(medium of exchange)’로 사용될 것”이라고 내다봤다.
이어 “비트코인은 여전히 디지털 금(digital gold)으로 생존할 수 있다”면서 “현재 금의 시가총액은 10조 달러이고 비트코인은 2천억 달러 수준이다. 만약 비트코인이 금의 시총에 10%만 따라간다면 앞으로 5배 정도 더 상승할 수 있을 것”이라고 주장했다.

앞서 지난 5월 브라이언 켈리는 한 인터뷰에서 “비트코인의 공급량 감소로 인해 비트코인 가격은 향후 수개월 내로 한차례 더 상승할 것”이라며 “수많은 채굴자들의 비트코인 매집으로 인해 공급량은 감소하고 수요는 증가하기 때문”이라고 진단했다. 그는 또 “포트폴리오의 1%에서 5%는 암호화폐에 할당할 것을 권한다”고 덧붙였다.

한편 해외 암호화폐 시황 중계사이트 코인마켓캡에 따르면 12일(한국시간) 오후 1시 20분 현재 글로벌 비트코인(BTC) 시세는 24시간 전 대비 0.51% 상승한 약 11,448달러에 거래되고 있다. 24시간 거래량은 약 151억 달러이며, 시가총액은 약 2,049억 달러이다. 비트코인 시가총액 점유율은 68.5%에 달한다.

( Source: coinreaders)

Terra, first step in cryptocurrency lending… Cooperate with Singapore Exchange Bitrue.

Shin Hyun-sung’s blockchain project Terra has signed a partnership with Singapore’s cryptocurrency exchange Bitrue to launch loan products using blockchain technology-based value stable cryptocurrency (stable coin).

First, the company plans to list Terra’s cryptocurrencies, Terra SDT and Luna on Bitrue and launch various crypto-based financial services, including loans in the future.

Terra announced on the 12th that it signed a partnership with Cryptocurrency exchange ‘Bitrue’ and decided to list ‘Luna’ and ‘Terra SDT’ on 14th and 16th. Bitrue is a cryptocurrency exchange that is not well known in Korea but has many transactions in the US and Europe. Luna will be able to trade on Bitcoin(BTC) market and Ripple (XRP) market of Bitrue from the 14th. The Terra SDT will be available for sale in the Tether (USDT) market beginning at noon on the 16th.

This is the first time that Terra SDT is listed on the exchange. Although Terra KRT is listed on Korean exchanges such as Gidak and Gofax, Terra SDT is listed for the first time.

Terra supports multi-stable coins pegged to various fiat currencies, including the Korean won, the US dollar, the Yen, the Singapore dollar, and the SDR of the International Monetary Fund for easy use in many countries. For example, one Terra KRT is worth one won, and one Terra UST is worth one dollar.

Of these, the Terra SDT, pegged to the IMF Special Drawing Rights (SDR), the world’s most stable value, is used as the key currency for the Terra ecosystem. If the price remains constant even after the Terra SDT is listed on the 16th, Bitrue will prove that the principle of the stable coin Terra is working well.

In addition, Tera and Bitrue are promoting the provision of decentralized financial services. Both companies will use stable coin Terra to develop high-yield savings and loan programs.

“The listing of Terra and Luna is the first of many collaborations planned by Bitrue,” said Curris Wang Bitrue Chief Executive Officer. “Virtual’s goal is to bring innovation and excellence in cryptocurrency Terra shares the vision and creativity needed to implement it. ”

“Terra has recently partnered with Chai, a mobile payment application, and thanks to this, hundreds of thousands of consumers are using Chai and Terra’s blockchain to buy daily necessities and services.” We are happy to be able to collaborate with Bitrue at a growing time, and we are looking forward to launching products such as loans in the future. ”

Meanwhile, Terra’s blockchain verifiers recently decided to distribute 21.7 million Lunas as a grant to support the account deposit (staking). It is expected that users staking Luna will receive 10% interest annually.

( Source: The Block Post )

코인베이스, 비트코인 캐시 거래관련 법원판결 예정

Coinbase will be judged for trading Bitcoin Cash

미국의 대규모 암호화폐 거래소인 Coinbase는 BCH거래에 대한 판결을 기다리고 있습니다. Bloomberg에 따르면 샌프란시스코의 Vince Chhabria 판사의 결정에 따르면이 소송은 2017 년 Bitcoin Cash 거래가 시작될 때 “서둘러서 발생한 거래중단”과 관련이 있습니다.

2017 년 12 월 코인베이스는 비트코인 캐시(BCH) 거래를 시작했지만 2분 후 “유의한 변동성”으로 인해 플랫폼이 거래를 중단해야했습니다. BCH는 코인베이스의 발표 몇 시간 전에 오르기 시작했으며 이는 내부거래에 대한 의심의 단초가 되었습니다.

가장 흥미로운 점은 법원은 거래 중단으로 인해 판매에 실패한 사람들이 아니라 상승된 가격으로 BCH를 구매 한 사용자의 이익을 보호 할 것이라는 점입니다.

판사에 따르면, Coinbase의 거래 중단 결정은 시장의 정상적인 기능에 대한 위반을 증명하는 것입니다. 구매자는 코인베이스가 가격 급등을 피하기 위해 상장날짜를 미리 발표했을 수 있다고 말합니다. 판사는 이 의견을 지지했으며 그 전날 시카고 상업거래소 (CME)에서 비트코인 선물의 출시가 시장 참여자들 사이의 흥분을 악화시키는 요인으로 지적했습니다.
동시에, 거래 중단으로 인해 비정상적인 가격으로 자산을 처분할 수 없다는 잠재적 판매자의 불만은 판사에 의해 지지받지 못했습니다. 그는 또한 Coinbase에 대한 사기 및 불공정 경쟁 소송을 기각했습니다.

Coinbase, a large U.S. cryptocurrency exchange, is awaiting litigation over BCH trading. According to Bloomberg , referring to the decision of Judge Vince Chhabria of San Francisco, the lawsuit is related to the “incompetence generated by haste” at the start of trading in Bitcoin Cash in 2017.

Recall that in December 2017, Coinbase opened trading in Bitcoin Cash, but after 2 minutes, due to “significant volatility”, the platform was forced to close trading. BCH began to grow hours before the announcement of Coinbase, which became the basis for the company’s suspicions of insider trading.

What is most interesting, the court will defend the interests of users who bought BCH at inflated prices, and not those who failed to sell due to the suspension of trading.

According to the judge, Coinbase’s decision to suspend trading is a confirmation of a violation of the normal functioning of the market. Buyers say Coinbase could have announced a bidding date in advance to avoid price spikes. The judge supported this opinion and pointed to the launch of the bitcoin futures on the Chicago Mercantile Exchange (CME) the day before that as a factor in the aggravation of excitement among market participants.
At the same time, the complaints of potential sellers that they could not get rid of the asset at inflated prices due to the suspension of trading were not supported by the judge. He also dismissed fraud and unfair competition lawsuits against Coinbase.

( Source: The Cryptocurrency Post )
https://thecryptocurrencypost.net/coinbase-will-be-judged-for-trading-bitcoin-cash/

터키, 자체 암호화폐 발행준비를 시작하다.

Turkey began to prepare for the launch of its own cryptocurrency

터키 의회는 경제 개발 계획에는 자체 암호 화폐 생성이 포함된다고 밝혔습니다. 터키 중앙 은행 (Central Bank of Turkey)의 경제전문가들이 이 절차를 책임지게 될 것이라고 합니다.

2024 년 말까지 프로젝트를 구현할 계획이라고 하며, 또한 블록체인 기술이 물류 및 관세 통제 프로세스를 통합 할 것이라는 사실이 알려졌습니다.
규제당국은 블록체인 외에도 대량의 정보 저장 서비스를 포함하여 인공 지능을 적극적으로 사용할 계획입니다.

Fuat Oktay 터키 부통령에 따르면 정부는 경제의 모든 부문에서 혁신 도입에 대한 작업을 가속화하는 임무를 스스로 설정했으며 에너지와 국가 장치의 효율성에 특별한 주의를 기울일 것이라고 밝혔습다.

터키는 2018 년 2 월부터 자체 디지털 통화 출시를 고려해 왔습니다. 그러나 정부가 새로운 자산의 전망에 회의적이라, 앙카라는 토큰 출시를 서두르지 않을 것입니다.

The Turkish Parliament said that the plans for economic development included the creation of its own cryptocurrency. Economists from the Central Bank of Turkey became responsible for this process.

Plans to implement the project until the end of 2024. It also became known that blockchain technologies will integrate logistics and customs control processes.
In addition to the blockchain, the regulator plans to actively use artificial intelligence, including services for storing large amounts of information.

According to the vice-president of Turkey, Fuat Oktay, the government has set itself the task of accelerating work on the introduction of innovations in all sectors of the economy, special attention will be paid to energy and the efficiency of the state apparatus.

Turkey has been considering launching its own digital currency since February 2018. However, while the government is skeptical about the prospects of a new asset, Ankara will not be in a hurry with the release of the token.

(source : The Cryptocurrency Post)
https://thecryptocurrencypost.net/turkey-began-to-prepare-for-the-launch-of-its-own-cryptocurrency/

SNS ‘Tata’ with 17 million users launches cryptocurrency rewards.

Social Network Service (SNS) Tata, which has 17 million users in China and Southeast Asia, will begin to provide cryptocurrency rewards according to user activity.

The TTC Foundation announced on the 9th that Acorn Protocol works in conjunction with Tata and users of Tata will be rewarded for the popularity, response, and comments of contents shared by themselves.

Acorn Protocol is a blockchain-based incentive protocol for social platforms. It measures the content and contribution of content, time and behavior consumed by users in partner social network services called Acorn Alliance, and rewards it daily with the cryptocurrency ‘ACN’.

This is a win-win structure that users are rewarded for their actions and time and social network services are with community growth and revenue growth. According to the TTC Foundation, major domestic and foreign social network services have already joined the Acorn Alliance. More than 30 million users will participate in the Acorn Protocol this year.

Users are rewarded through registration of contents, likes, and comments. In addition, you can receive compensation by participating in reports about harmful activities such as malicious posts, abusive language, and review of reported posts. The content of users’ participation and the degree of contribution are recorded transparently through the blockchain.

“The TTC team has been solidly developing a blockchain infrastructure to provide incentives to social network participants,” said Seojun Kim CEO of Hacid Inc., the main investor of TTC Foundation. I think it is a meaningful achievement for the blockchain industry as a whole. ”

Jung Hyun-woo, CEO of TTC Foundation, said, “With the launch of Acorn Protocol, many people will be able to find new roles in the social networks such as creators, curators or reporters, and will be immediately rewarded for their contributions.”

( Source: https://blockpost.com/market/47516/ )

Regulatory Heads of Seven Countries Concerned that Libra’s Privacy Policy is Insufficient

Heads of regulators around the world, who oversee the protection of personal information and privacy of data, have raised concerns about Facebook’s cryptocurrency project, Libra.

The UK’s ICO issued a joint statement on Tuesday with Australia, Albania, Burkina Faso, Canada, the European Union, and the US data protection agency.

“Facebook and Calibra, a subsidiary of Facebook, which makes cryptocurrency wallet, has repeatedly said that it will do its best to protect users’ privacy publically. But there are no specific plans on how to ensure that privacy is not compromised. In this situation, Libra is planning to launch a cryptocurrency next year. It’s very alarming to have such a hasty launch schedule with no real privacy policy. ”– Joint Statement by Global Data Protection Agency

The heads of agencies that regulate data protection provided a list of questions that Facebook should answer. First, Facebook needs to make clear to Libra network users that Libra is responsible for managing and protecting their personal information and Libra usage. In addition, privacy must be promised not to induce the user to agree to share personal information or hand over data to third parties without his knowledge.

The chief executives also asked Facebook to publicly promise to use only the minimum amount of personal information necessary to operate the service and to handle it within the legal framework. It also adds that personal information is fully protected and users need to quickly and easily handle requests when they delete their account or block their information in order to protect their privacy.

The heads of the signing of the joint statement called for the public to express these concerns to Facebook as soon as possible. They pointed out that in the past, Facebook did not find and corrected the lack of privacy regulations until it launched the service.

Global regulators are scrutinizing the Libra project. Regulatory agencies in Switzerland, Singapore and other countries have asked Facebook to submit more information about the Libra project, and the US Senate Finance Committee held two hearings last month, raising concerns about the government and regulators surrounding the Libra project. Was publicized.

Facebook said that in principle, Facebook does not have separate access to personal information, including financial information such as Libra usage history. However, David Markus, Facebook’s blockchain general manager and Calibra’s president, admitted that a third party would make and supply a product like a digital wallet for Libra’s use, which would handle the user’s personal information. However, Marcus said the responsibility for the privacy policy rests with the digital wallet company, which is a third party. “It’s a matter of responsibility and decision to meet the country’s standards and regulatory environment.”

“I hope this statement makes it clear that data protection is a key issue in the Libra project, and that organizations responsible for data protection should be included in major regulators in preparation for the release of Libra.” – Elizabeth Denum, Director of Information Management, UK

https://blockpost.com/coindesk/47347/

(Source: Coindesk )