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FILE - In this April 30, 2019, file photo, Facebook stickers are laid out on a table at F8, Facebook's developer conference in San Jose, Calif. The Boston-based renewable energy developer Longroad Energy announced in May that Facebook is building a… VOA

Libra, a cryptocurrency project championed by Facebook, has failed in its current form, according to the President of Switzerland.

As Libra is seeking approval in Switzerland, the comment from Swiss President and Finance Minister Ueli Maurer suggests that Facebook and other stakeholders will have to rework the project if they want it to be approved in the country.


In an interview with Swiss broadcaster SRF, Maurer stated that Libra does not have a chance of being successful “because the basket of currencies that is deposited in this currency is not accepted by the national (central) banks,” theblockcrypto.com reported on Friday.

“The project in this form has actually failed,” Maurer was quoted as saying.

The Libra project which is still in development published a second roadmap last week, outlining plans for the launch of its first version in 2020.


Representations of virtual currency are displayed in front of the Libra logo in this illustration picture. VOA

In October, companies like Paypal, Visa, Mastercard and eBay pulled out of the Libra cryptocurrency project to apparently avoid the US regulators who are scrutinising Facebook and its subsidiaries.

But despite some top-notch firms pulling out, Facebook and 20 partner organisations formally joined the digital currency Libra project during a meeting in Geneva in October.

Also Read: Amazon’s Ring Hit with Lawsuit Over Security Camera Hacking

The organisations signed the charter for the Libra Association, which also formed a council tasked with governance of the group, reported CNET.

The Libra Association said that more than 1,500 entities have expressed interest in joining the digital currency project. (IANS)


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Khadi is no longer a dull, drab fabric meant only for politicians' wardrobes.

Khadi is no longer a dull, drab fabric meant only for politicians' wardrobes. A fashion show organised by the Khadi Gramodyog Board as part of the Azadi Ka Amrit Mahotsav to mark the 75th year of India's Independence showcased the use of Khadi in traditional, as well as, contemporary and festive wear. From lehengas in resplendent Khadi silk to western clothes and casual wear, the models on Thursday night displayed new facts of the fabric.

Several well-known Indian designers including Ritu Beri, Farah Ansari, Rina Dhaka, Asma Husain, Aditi Rastogi and Himmat Singh showcased their designs. Gaurav Gaur directed the fashion show with clothes like lehengas, kurtis, kurta pajamas and partywear.

Lucknow's chikankari and silk artisans also participated in the event. A wedding collection in Khadi was the highlight of the show. "The show was based on the concept 'Khadi for nation, Khadi for fashion' and the fabric for all costumes was provided by Khadi Gramodyog Board," said a spokesman. (IANS/ MBI)


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Pat Gelsinger, CEO - Intel

Intel saw its stock tumbling by more than 8 percent after the chipmaker said the industry-wide component shortage affected its PC chip business during the third quarter (Q3). Intel CEO Pat Gelsinger told CNBC late on Thursday that he didn't expect the semiconductor shortage to end until 2023. "We're in the worst of it now, every quarter, next year we'll get incrementally better, but they're not going to have supply-demand balance until 2023," Gelsinger was quoted as saying.


The company delivered its Q3 results with revenue up 5 percent (year-over-year) driven by strong demand in its DCG and IoTG businesses, despite the highly constrained industry-wide supply environment. "Q3 revenue was $18.1 billion slightly below our guide due to shipping and supply constraints that impacted our businesses," George S. Davis, Chief Financial Officer, said in a statement. He also announced plans to retire from Intel in May 2022. In the third quarter, the company generated $9.9 billion in cash from operations and paid dividends of $1.4 billion.

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Photo by Nathan Dumlao on Unsplash

Micro-blogging site Twitter has announced that its audio chatroom Spaces is now open to anyone who wants to host.

Micro-blogging site Twitter has announced that its audio chatroom Spaces is now open to anyone who wants to host. The Spaces team in a tweet said that the users on both Android and iOS will now be able to host Spaces. "The time has arrived -- we're now rolling out the ability for everyone on iOS and Android to host a Space," the firm said in a tweet.

Earlier this year, the company had limited access to hosting Spaces to accounts with at least 600 followers, saying that it found these accounts would be more likely to have a good experience due to the existing audience. Twitter recently announced a new accelerator programme for creators on its audio conversation platform Spaces, to "discover and reward" around 150 creators with technical, financial and marketing support.

The 'Twitter Spaces Spark' programme is a three-month accelerator initiative. Those selected will get a stipend of $2,500 per month, $500 in monthly ad credits to spend promoting their Spaces on Twitter and early access to new Twitter features. They will also get support from Twitter's official social media handles, and "opportunities for prioritised in-app discoverability for well-performing Spaces".

Twitter has also announced plans to roll out paid Ticketed Spaces for iOS users where some hosts on its live audio feature can now sell access to Ticketed Spaces. Twitter had previously said that it will take a 3 per cent cut of creators' earnings from Ticketed Spaces. (IANS/ MBI)


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