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blondebanshee

(353 posts)
Mon Jun 17, 2019, 12:54 PM Jun 2019

Facebook's cryptocurrency partners revealed--we obtained the entire list of inaugural backers


Facebook has been quietly building out its cryptocurrency for over a year, and it looks like that time has been well spent, enlisting the support of some of the most prominent companies across payments, retail, and technology.

As recently reported by The Wall Street Journal, Facebook’s cryptocurrency will be governed by a consortium of firms known as the Libra Association, which includes the likes of Visa, Mastercard, and PayPal. But The Block has gotten its hands on consortium marketing materials and can now report dozens of firms not previously known to be involved, including investors such as Andreessen Horowitz and Union Square Ventures, cryptocurrency exchange Coinbase, and non-profits including Mercy Corps. Calibra, a subsidiary Facebook formed to oversee the social media giant’s crypto efforts, is also among the founding members, according to a source familiar with the matter.

Here’s a full list of the Libra Association founding members, which Facebook is set to officially announce on Tuesday:

[link:https://www.theblockcrypto.com/2019/06/14/facebooks-cryptocurrency-partners-revealed-we-obtained-the-entire-list-of-inaugural-backers/|

Full List at link
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Facebook's cryptocurrency partners revealed--we obtained the entire list of inaugural backers (Original Post) blondebanshee Jun 2019 OP
Why would I want to take payment in cryptocurrency? matt819 Jun 2019 #1
hope you fail at this one FaceBook! TeamPooka Jun 2019 #2
Spam deleted by MIR Team rayshow Oct 2019 #3

matt819

(10,749 posts)
1. Why would I want to take payment in cryptocurrency?
Mon Jun 17, 2019, 02:31 PM
Jun 2019

On my websites I offer the usual cc companies, PayPal and Amazon Pay. Eventually, payments are made in US dollars to my bank accounts. They charge me roughly 3%, give or take, for these services.

Why would I want to offer cryptocurrency payments? There is no legitimately set exchange rate, and no one is "out there" governing that process. And you know full well that the major players named in the article will be sure that any exchange rates set would end up screwing small businesses and consumers. And if it flops, the impact on the companies named would be little more than a blip, while, again, small businesses and consumers will be left clicking away at the (empty) digital vault.

Response to blondebanshee (Original post)

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