Social media giant Facebook is said to be seeking to raise as much as a billion dollars in outside funding for its cryptocurrency project.Nathaniel Popper, a technology reporter at The New York Times, tweeted Monday that sources have said Facebook is targeting “big sums – as much as $1b” from venture capitalists to support the stablecoin effort. The company would use the funds as collateral to back the token, one person apparently told the journalist.It must be stressed that, at this stage, the comments have not been confirmed by Facebook or any potential investors.Facebook has been developing its own stablecoin for money transfers over WhatsApp, as revealed last December. The stablecoin may be pegged to a “basket of foreign currencies held in bank accounts,” Popper’s further tweeted.
Zuck is a little confused.
If you have a billion in reserves, those are called deposits. They are backed by loans. I have no idea how Zuck figured that pegging to a currency basket makes any sense. I doubt that he knows how to make a currency exchange. If Zuck wants a coin, suggest he just trade loans against the deposits, forget the currency basket it will simply cycle.
And this:
Opera Launches Desktop Dapp Browser With Built-In Ethereum Wallet
Why doesn't Opera simply join the smart mouse group, build a mouse with thumbprint, secret key and contract knowledge? It is simply too much trouble at this point to try and embed a smart card function in each browser. Read my blog and avoid a bunch of mistakes and dead ends.
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