Fri. 05/03 - Facebook Coin Is Coming For Credit Cards

Tech Brew Ride Home

Amalgamated Internets, LLC

Tech News, News, Technology

4.7 • 1K Ratings

🗓️ 3 May 2019

⏱️ 20 minutes

🔗️ Recording | iTunes | RSS

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Summary

This Facebook cryptocurrency is real, people, Microsoft has a blockchain product as well, Verizon is looking to unload Tumblr, Softbank is considering an IPO for the vision fund and, of course, the weekend longreads suggestions. Sponsors: PixelUnion.net Instacart. Promocode RIDE at checkout. Links: Facebook Building Cryptocurrency-Based Payments System (WSJ) Project Libra: Facebook to launch stablecoin-based payments network (The Block) Report: Facebook looking to disrupt credit cards with cryptocurrency (ArsTechnica) Microsoft adds more AI, mixed-reality, IoT services to its Azure line-up (ZDNet) Microsoft launches a fully managed blockchain service (TechCrunch) Verizon Looks to Unload Tumblr Blogging Site (WSJ) SoftBank Considers IPO for $100 Billion Vision Fund (WSJ) Sonic’s live-action design upset the entire internet, so the studio is changing it (The Verge) The Weekend Longreads Suggestions: The making of Amazon Prime, the internet’s most successful and devastating membership program (ReCode) The search for the kryptonite that can stop CRISPR (MIT Technology Review) The Most Valuable Company (for Now) Is Having a Nadellaissance (Bloomberg Businessweek) Software, the Tough Tomato Principle, and the Great Weirdening of the World (Florent Crivello) The productivity pit: how Slack is ruining work (ReCode) Exclusive: The Saga Of 'Star Citizen,' A Video Game That Raised $300 Million—But May Never Be Ready To Play (Forbes) Support the show! Lose the ads! Subscribe to the premium feed RIGHT HERE in your podcast app with 3 taps! Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Welcome to the Tech Mem Right Home for Friday, May 3rd 2019. I'm Brian McCullough today.
0:09.7	This Facebook cryptocurrency thing is real people.
0:12.6	Microsoft also has a blockchain product.
0:15.8	Verizon is looking to unload Tumblr.
0:18.2	Softbank is considering an IPO for the Vision Fund and of course
0:22.0	the weekend long read suggestions.
0:24.0	Here's what you miss today in the world of tech.
0:27.0	Facebook is reportedly seeking $1 billion from financial firms and e-commerce sites to back its new stable coin
0:37.0	cryptocurrency as it readies its payments network and reward system to set loose on users, quoting the Wall Street Journal.
0:45.0	Seeking total investments of about $1 billion,
0:47.5	Facebook has talked to financial institutions including Visa,
0:51.0	Mastercard, and Payment Processor First Data Corp.
0:54.0	The sources said.
0:55.2	The money would underpin the value of the coin to protect it from the wild price swings
1:00.0	seen in Bitcoin and other cryptocurrencies, they said.
1:03.0	Facebook is also talking to e-commerce companies and apps
1:06.2	about accepting the coin and would seek smaller financial investments
1:09.7	from those partners, one of the people said end quote.
1:13.4	Again if you're not aware a stable coin is a cryptocurrency that is pegged directly to
1:19.5	fiat currency so one Facebook coin would always be, for example, equal to one U.S. dollar perhaps.
1:27.0	Talking to the likes of Visa and First Data suggests that Facebook is looking to launch a full payments network instead of just
1:34.8	doing remittances.
	...

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