The topnotch multinational social networking service provider Facebook, has engaged a lobbying company based in the State of Washington, United States amid the augmented Congressional and regulatory backlash the American technology giant has seen because of its future Libra Cryptocurrency project that is expected to be launched in 2020 once it meets all the necessary regulatory approvals.
As the entire cryptocurrency ecosystem eagerly awaits the world’s leading social networking service provider Facebook officially launching its own USD-backed token called Libra, a large number of anonymous fraudsters have already started their bad practices of creating Facebook pages pretending to sell real Libra.
CEO and founder of Facebook, Mark Zuckerberg, recently won another leadership election at the company’s yearly general committee meeting. Most of the institutional shareholders of Facebook (FB), a California-based online social media and social networking service firm, wanted Zuckerberg to retire from being chairman of the board so as he can effectively manage other daily operational activities of the firm.
The leading social media network, Facebook, the company that owns Instagram and WhatsApp, apps which allow users to make and share content or take part in social networking, plans to put its own cryptocurrency on the market by 2020, the coin will be used to make payments beginning with over 12 different nations globally by April next year (Q1 of 2020).
Cisco released a controversial study earlier this year. According to the report's forecasts, 75% of the world's existing networking projects will end in failure. Interestingly, however, almost at the same time, Alibaba's 12 scientists from different fields unanimously declared: as the maturity of AI technology accelerates, the Internet of Things (IoT) is going to have a truly popular year.
Facebook’s share price finally bounced back a bit when Mark Zuckerberg, the young billionaire, was being questioned at a congressional hearing. However, the market recovery and the testimony of the hearing did not quell the worldwide doubts about Facebook’s massive privacy disclosure. It is almost impossible to rebuild trust once it collapses.
As blockchain becomes the buzzword, many new networking systems are showing up. Ethereum is one of those. It is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of downtime, censorship, fraud or third-party interference.