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Facebook Libra’s first digital coin arriving in January: Report

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The Libra Association, which manages Facebook’s cryptocurrency project, will launch a single coin backed by one dollar as early as January, The Financial Times reported on Friday.

The Libra Association would launch other currencies and a “digital composite” of all of its coins at a later date.

However, according to critics, moving to single-currency coins “could result in additional costs for currency conversion”, undermining the project’s goal of greater financial inclusion.

Facebook and 20 partner organisations formally joined the digital currency project during a meeting in Geneva in October last year.

In a move to win regulators’ hearts, The Libra Association in April announced that its cryptocurrency will offer stable coins backed by just one nation’s currency, meaning some coins offered would serve as the equivalent value of a dollar or a Euro.

In a white paper, The Libra Association took a scaled-down approach to woo its critics, saying that Libra will focus on building a payment network in which coins are tied to a variety of local currencies.

Earlier this week, The Libra Association introduced Saumya Bhavsar as the new general counsel of Libra Networks.

Libra Networks will manage the operations of the licensed Libra payment system.

“I am thrilled to be joining the Libra Association as it progresses toward enabling a more inclusive global financial system,” said Bhavsar.

She recently served as Managing Director, Global Head of Regulatory Affairs and Group Head of Data Protection Office at Credit Suisse.

“Saumya is a strategic leader with demonstrated ability and success in legal, regulatory and operational roles in one of the most highly-regulated industries,” said James Emmett, Managing Director of Libra Networks.

 

 

Last year, several heavyweights pulled out of the Libra project, like PayPal, Mastercard, Visa, Mercado Pago, eBay, Stripe and Booking Holdings and Vodafone over privacy concerns.

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After WhatsApp Groups, User Phone Numbers Found In Google Search Results.

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WhatsApp continues to be in the news for some wrong reasons. The messaging app has been attracting attention over the new privacy policy row. Now, phone numbers of WhatsApp web users have reportedly been found on Google Search. This comes a few days after it was reported that group chats have been exposed on Google Search. Users could simply search for the group on Google they want to join. The latest breach has leaked the phone number of WhatsApp’s web users, according to an report. Let’s take a look at the latest WhatsApp update issue to see if there are things you could do to avoid exposing your details online.

Details of WhatsApp’s Web users have leaked online. According to the a report, the messaging app has allegedly exposed the phone numbers of the web users on Google Search via indexing. This comes days after another report which stated that group chats have been exposed on Google Search.

Security researcher Rajshekhar Rajaria claims that the phone numbers of WhatsApp web users have appeared on Google Search. “If someone is using WhatsApp on a laptop or on an office PC, the mobile numbers are being indexed on Google Search. These are mobile numbers of individual users, not business numbers,” Rajaharia told IANS. The researcher also shared some screenshots with the publication.

WhatsApp, earlier today, announced that it is delaying its new policy by three months. The messaging app is doing so to help everyone understand its principles and the facts. “We’ve heard from so many people how much confusion there is around our recent update. There’s been a lot of misinformation causing concern and we want to help everyone understand our principles and the facts,” it said. The messaging app also announced that no one will have their account suspended or deleted on February 8. 

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