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Facebook is developing a fiat-backed stablecoin payment system

May03
by on May 3, 2019 at 8:00 am
Posted In: Around the Web, blockchain, cryptocurrency, Hard Fork


While details have remained scarce, Facebook’s plans to create its own cryptocurrency have not exactly been secret. But with its latest announcement, Facebook looks to be developing its own stablecoin-backed payment system, The Wall Street Journal reports. In what it’s calling Project Libra, Facebook is developing a stablecoin backed by government – AKA fiat – currency. It has not disclosed what currency, though. A source close to the matter confirmed to The Block that Facebook is actively looking for financial firms to assist in making Project Libra a reality. Facebook is also in conversations with payment networks Visa and Mastercard to…

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Online extremism is taking a mental toll on researchers studying it

May03
by on May 3, 2019 at 7:36 am
Posted In: Around the Web, Social Media


Social media platforms do an indispensable job of connecting us with our families, friends and like-minded people. But of late, they have also become conduits for bad actors to hijack users’ attention to manipulate news, spew conspiracy theories, and propagate toxic viewpoints with an intent to radicalize impressionable minds. Whether be it Facebook, Instagram, Twitter, or YouTube, problems surrounding extremist content, lapses in platform moderation and general misuse run rampant. The public feeds, which incentivized us into sharing more, and connecting and engaging with as many people as possible, have also emerged as the biggest source of headaches for the companies running them. But it’s not just…

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