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Social Media Giant Facebook Moves Ahead with 20 Partners on the Libra Project

In July, Congresswoman Maxine Waters (D-CA), Chairwoman of the committee sent a letter to Facebook requesting an immediate moratorium on the implementation of Facebook's proposed cryptocurrency, Libra, and digital wallet, Calibra

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The Facebook mobile app on an Android smartphone. Wikimedia Commons

Despite some top-notch firms pulling out, Facebook and 20 partner organisations have formally joined the digital currency Libra project during a meeting here.

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

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

Companies like Paypal, Visa, Mastercard and EBay have pulled out of the Libra cryptocurrency project to apparently avoid the US regulators who are scrutinizing Facebook and its subsidiaries.

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

Seven of Facebook partners have dropped out of the project.

Facebook CEO Mark Zuckerberg is set to testify before the US House of Representatives on October 23 to discuss concerns over ‘Libra’ that has run into rough weather.

Also Read: 5G to Change How Telecom Operators in India Earn Revenue, Says Cisco

Zuckerberg will be grilled by lawmakers and regulators during the Q&A session at the US House Financial Services Committee.

In July, Congresswoman Maxine Waters (D-CA), Chairwoman of the committee sent a letter to Facebook requesting an immediate moratorium on the implementation of Facebook’s proposed cryptocurrency, Libra, and digital wallet, Calibra. (IANS)

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Facebook, Sony Pulls Out Of Games Developer Conference Due To Coronavirus Concerns

Earlier this month, global telecom industry body GSMA cancelled the 2020 edition of the tech industry's biggest event -- MWC due to health safety concerns around novel coronavirus outbreak

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Facebook had already cancelled an event it had planned at the Moscone Centre in San Francisco a week back. Pixabay

 Big technology players such as Facebook and Sony have pulled out of the forthcoming Games Developer Conference (GDC) over concerns of the deadly coronavirus outbreak. This comes after coronavirus derailed the world’s biggest mobile exhibition — the Mobile World Congress (MWC) in Barcelona.

Just one day after announcing it wouldn’t be attending PAX East, Sony confirmed that it also won’t be attending the Game Developers Conference (GDC) this March in San Francisco also due to coronavirus concerns, Android Central reported on Thursday.

It is pertinent to note that Sony had cancelled plans for MWC as well and the novel coronavirus situation in China has caused a lot of distress across the tech industry.

Facebook had already cancelled an event it had planned at the Moscone Centre in San Francisco a week back.

Coronavirus
Big technology players such as Facebook and Sony have pulled out of the forthcoming Games Developer Conference (GDC) over concerns of the deadly coronavirus outbreak. This comes after coronavirus derailed the world’s biggest mobile exhibition — the Mobile World Congress (MWC) in Barcelona. VOA

Facebook, which owns VR company Oculus, also announced it won’t be attending GDC in either capacity. Chris Pruett, the director of content ecosystem at Oculus, said in a statement, “Out of concern for the health and safety of our employees, our dev partners, and the GDC community as a whole, Facebook’s AR/VR and Gaming teams won’t be attending this year’s Game Developers Conference due to the evolving public health risks related to COVID-19”, the report added.

ALSO READ: “Should Online Platforms Be Liable for User Posts?”, Asks U.S Attorney General William Barr

Earlier this month, global telecom industry body GSMA cancelled the 2020 edition of the tech industry’s biggest event — MWC due to health safety concerns around novel coronavirus outbreak. (IANS)