mo4ch:>Facebook cryptocurrency launch meets widespread skepticism, demand for safeguards | Mo4ch News
The much-hyped launch of Facebook's cryptocurrency Libra has met a brick wall of institutional skepticism as politicians and regulators take one look at CEO Mark Zuckerberg's privacy record and raise a collective eyebrow.Calibra, the new Facebook subsidiary which will operate Libra, has made no secret of its ambitions to branch out from funds transfer into credit, bill payments and other more sophisticated products. Such consolidation of power in the hands of a company that already has a monopoly on online social interaction for its 2-billion-plus users - and a terrible record of protecting users' privacy - has understandably worried the skeptics.Also on rt.comFacebook announces entry into cryptocurrency market with Libra"Any further concentration of personal data poses additional risks to the rights and freedoms of individuals," European Data Protection Supervisor Giovanni Buttarelli told Business Insider. "It would be deeply concerning, for example, for a …