October 23, 2019 I. Introduction
The idea behind Libra is that sending money should be as easy and secure as sending a text message. Libra will be a global payments system, fully backed by a reserve of cash and other highly liquid assets. But I also hope we can talk about the risks of not innovating. While we debate these issues, the rest of the world isn’t waiting. China is moving quickly to launch similar ideas in the coming months. Libra will be backed mostly by dollars and I believe it will extend America’s financial leadership as well as our democratic values and oversight around the world. If America doesn’t innovate, our financial leadership is not guaranteed.
People shouldn’t be discriminated against on any of our services. We have policies in place to prevent hate speech and remove harmful content. But discrimination can also show up in how ads are targeted and shown. As part of a settlement with civil rights groups, we’ve banned advertisers from using age, gender, or zip codes to target housing, employment, or credit opportunities, and we’ve limited interest-based targeting for these ads.
Libra is one potential approach, and we’re proud to have helped found a 21-member coalition of companies and social impact organizations that have now committed to moving forward with this idea. Establishing this broad-based coalition is a positive step, and I welcome the conversation that Libra has sparked. But by design, we don’t expect to be leading those efforts going forward.
First, we’ve heard that people are concerned that we are moving too fast. As we have said from the beginning, we’re committed to taking the time to get this right. We co-wrote a white paper to begin a dialogue with experts and the regulators and policymakers who oversee the stability and security of our financial systems. It was never intended to be the final word on the project. The goal was to signal the direction we want to go and to start a conversation about how to get there.
Facebook is committed to strong consumer protections for the financial information we receive, and I want to be clear about how we handle that information: • We do not use people’s data to make decisions about lending, or to create credit reports. • We use information about transactions that happen on our products to improve our services, including advertising. However, we do not use people’s payment account information itself for advertising purposes.
Crypto skleb1234 No other digital asset can say the same. All In XRP Ripple XRP ODL NoBrainer HODL $XRP
skleb1234 I'm not surprised that some people are resorting to making threats over some people's facebook posts. The real question is why can't they just move on? Such are the times I guess, but what does that say about the state of their mental health?
skleb1234 You can tell M Zuckerberg want something when he shows up before US lawmakers...
skleb1234 Does anyone see the irony of these Hypocrite Republicans questioning Zuckerberg about censoring false information on Facebook users?
skleb1234 This should be MarkZuckerberg new Facebook profile photo!
skleb1234 LoseYouToLoveMe
skleb1234 They can’t remove hate speech or child pornography but they do a great job deleting legal cannabis pages 😂
skleb1234 Not shared with anyone.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: Forbes - 🏆 394. / 53 Read more »
Source: Reuters - 🏆 2. / 97 Read more »
Source: Forbes - 🏆 394. / 53 Read more »
Source: CNBC - 🏆 12. / 72 Read more »
Source: Newsweek - 🏆 468. / 52 Read more »
Source: BusinessInsider - 🏆 729. / 51 Read more »