A GLOBAL DIGITAL currency would make sending money across the world as easy as texting. It would do away with fees, delays and other barriers to the flow of cash. It would give those in less developed countries access to the financial system and a way to protect hard-earned wages against runaway inflation. It could trigger a wave of innovation in finance, much like the internet did in online services. That, in a nutshell, is what on June 18th Facebook promised to launch within a year. Libra, as the social network’s new currency is to be known in honour of an ancient Roman unit of mass (and the word for “pound” in many romance languages), professes to be all about “empower[ing] billions of people”. Get our daily newsletter Upgrade your inbox and get our Daily Dispatch and Editor's Picks. The potential is indeed enormous. If each of Facebook’s 2.4bn users converted a slice of their savings into libras, it could immediately become one of the … [Read more...] about Facebook wants to create a worldwide digital currency
T s s worldwide money transfer
Almost a year later, it’s apparent that the new rules have a significant loophole: The designated lead regulator — the tiny nation of Ireland — has yet to bring an enforcement action against a big tech firm. That’s not entirely surprising. Despite its vows to beef up its threadbare regulatory apparatus, Ireland has a long history of catering to the very companies it is supposed to oversee, having wooed top Silicon Valley firms to the Emerald Isle with promises of low taxes, open access to top officials, and help securing funds to build glittering new headquarters. Now, data privacy experts and regulators in other countries are questioning Ireland’s commitment to policing imminent privacy concerns like Facebook’s reintroduction of facial recognition software and data-sharing with its recently purchased subsidiary WhatsApp, and Google’s sharing of information across its burgeoning number of platforms. Interviews with scores of privacy experts, … [Read more...] about POLITICO EUROPE
Fianna Fáil TD James Lawless wants Facebook founder Mark Zuckerberg to “put his money where his mouth is” and reveal his intentions for Facebook in relation to the adoption of GDPR rules worldwide.Mr Lawless is one of a number of Irish politicians who will meet with Mr Zuckerberg in Dublin today.He told RTE radio’s Morning Ireland that he is looking forward to meeting Mr Zuckerberg as this is an area on which he has been working for some time.The Fianna Fáil backbencher introduced the Social Media Transparency Bill to the Dáil two years ago in light of the US elections and online interference.The issue of electoral interference and harmful content is huge worldwide, he said, especially in light of the recent shooting in New Zealand, and he believes moderators are struggling to keep on top of managing content.“Mr Zuckerberg is appealing to people by saying all the right things. He's on this kind of charm offensive now, he's coming around speaking … [Read more...] about TD: Mark Zuckerberg needs to ‘put his money where his mouth is’ in relation to GDPR
Agostin Antonio was mystified. A retired seaman living quietly with his extended family of 12 in a suburb of the northern Philippine city of Cabanatuan, he had no idea why a company called ConePay International had used his address. But the name did ring a bell. Avoiding the laundry drying in the front porch and stepping over his grandchildren playing at the kitchen door, Mr Antonio disappeared back into his typical single-storey home, emerging a few moments later with a large white envelope. Addressed to ConePay, the letter had arrived in the mail about a year ago, a single missive from an entity called Wirecard Bank. It was a 10-page set of statements for empty German bank accounts held in a string of currencies — Australian, Canadian and Singaporean dollars and British pounds.Mr Antonio didn’t know anything about Wirecard Bank either. “This house was my mother’s. It’s been with the family for 50 years.” It was an unlikely … [Read more...] about Wirecard’s problem partners
Scotland By Fiona Walker BBC Scotland 22 March 2019 Share this with Facebook Share this with Messenger Share this with Twitter Share this with Email Share this with Facebook Share this with WhatsApp Share this with Messenger Share this with Twitter Share Share this with These are external links and will open in a new window Email Share this with Email Facebook Share this with Facebook Messenger Share this with Messenger Messenger Share this with Messenger Twitter Share this with Twitter Pinterest Share this with Pinterest WhatsApp Share this with WhatsApp LinkedIn Share this with LinkedIn Copy this link https://www.bbc.co.uk/news/uk-scotland-47638092 Read more about sharing. These are external links and will open in a new window Close share panel The private company that ran CairnGorm mountain went bust in November leaving behind a broken mountain … [Read more...] about CairnGorm: Where did the money go?