The Agricultural Bank of China (ABC), one of China’s state-owned banks released something which appeared to be the beta version of the anticipated Central Bank Digital Currency (CBDC) after a screenshot of the app was widely circulated on WeChat, the country’s equivalence of Facebook.
It is reported that partner companies participating in Facebook's Libra initiative are considering redesigning the project to address international regulatory concerns. The social networking company is allegedly shifting its strategies to takeoff a new token following extensive disparagement of its Libra digital currency.
The birth of cryptocurrency including Bitcoin traces back to the times of the Bretton Woods system of monetary management back in the 1970s. However, regardless of its positives, the system had some weighty weaknesses that ultimately led to its end on August 15, 1971.
Digital platforms are spreading more and more with business models based on our data and which, by default, threaten our rights. On the other hand, the privilege to the portability of personal information required by the GDPR assumes an important role for a change.
Privacy is one of the new technological trends of the last year. More and more important companies are shifting this functionality into their core business, even the big giants like Google, Facebook and Amazon.
Bitcoin price plunged to a four month low of $7,400. The cryptocurrency price hovered about $7,800 after leaving $8,000 where it was a few days back. At the moment the cryptocurrency price settled at $7,500. It’s becoming realistic that Bitcoin is continuously failing to sustain itself above the $8,000 margin.
The Facebook Libra cryptocurrency project is constantly losing the backing of mainstream giants. The latest businesses to quit cooperation with this digital currency include Visa, Mastercard, eBay and Stripe following suit after Paypal announcement to quit cooperation as regulators move on with scrutinizing Libra.