Wednesday November 20, 2019
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Facebook gets Sued by Mobile Banking App over Similar Logos

Facebook's Libra cryptocurrency project cuffs another obstruction

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Facebook's Libra cryptocurrency project logos has hit another blockade. Pixabay

Facebook Libra cryptocurrency project has hit another roadblock, as a mobile banking app has sued its Calibra subsidiary over similar logos.

Interestingly, both the logos were designed by San Francisco-based branding firm ‘Character’, which has also been named as a defendant in the lawsuit.

According to the lawsuit filed by a mobile banking firm named Current, Calibra’s logo “is not only confusingly similar to, but virtually identical to the Current Marks”.

It’s still unclear how it happened, but Current had filed an application for its logo on June 26, a few days after Calibra was unveiled, Engadget reported on Sunday quoting CoinDesk.

Facebook
Apart from Facebook, several companies such as Visa, Mastercard and eBay pulled out of the Libra cryptocurrency. Pixabay

Calibra was introduced as the division that would oversee Facebook’s cryptocurrency plans, including the development of a digital wallet.

Meanwhile, several companies such as Visa, Mastercard and eBay pulled out of the Libra cryptocurrency project ahead of their first meeting in Geneva on October 14.

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PayPal was the first to announce its withdrawal from the Libra Association, the 28-member non-profit organisation formed by the social networking giant for the global roll out of its digital currency Libra in 2020. (IANS)

Next Story

Social Media Giant Facebook Rolls Out Meme-Making App ‘Whale’

Facebook has quietly rolled out a meme-making app called 'Whale' on the Canadian App Store

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Facebook
Facebook quietly launched meme-making app Whale. Pixabay

Social media giant Facebook has quietly rolled out a meme-making app called ‘Whale’ on the Canadian App Store that may come to other markets including in India later.

The app’s listing confirms that it has been developed by Facebook’s New Product Experimentation (NPE) team, which was set up earlier this year to develop new experimental apps for the social networking platform that has over 2.6 billion users globally.

‘Whale’ is the latest app from NPE, after music app ‘AUX’ and chat app ‘Bump’, reports The Information.

According to Facebook, these apps are intended to help the company discover new features and services that people like.

Facebook- Whale
According to Facebook, these apps are intended to help the company discover new features. Pixabay

Facebook is slowly launching apps in new genres beyond chats to woo more users and open new avenues to make money.

Facebook-owned Instagram has also launched a new video-music remix feature called “Reels” to take on Chinese short video making app TikTok.

Also Read-TikTok Owner ByteDance To Launch Its Own Music Streaming Service

“Just like TikTok, users can soundtrack their ‘Reels’ with a huge catalog of music, or borrow the audio from anyone else’s video to create a remix of their meme or joke.

Rolled out in the Brazilian market first, “Reels” will be available on both iOS and Android. (IANS)