There is a minimum $10 million investment to join, except for non-profit members like financial inclusion group Kiva. The association aims to have 100 members by launch.
The company appears to be betting it can squeeze revenue out of its messaging services through transactions and payments, something that is already happening on Chinese social apps like WeChat. Calibra has about 100 employees, mostly based at Facebook’s headquarters in Menlo Park, California, as well as in Tel Aviv. Calibra executive Kevin Weil told Reuters he did not foresee a dramatic expansion beyond that headcount.Every person who uses Calibra will have to go through a “know your customer” process, which verifies user identities to prevent financial crimes.
Facebook should not be allowed to have cryptocurrency due to antitrust laws... at this point, I argue that mark Zuckerberg himself should be condemned to loneliness until he figures out the damage his platform causes singles... even if it starts in PRISON.
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