#CryptoCorner: Twitter (NYSE: $TWTR) CEO Skeptical of Libra, Galaxy Digital (TSXV: $GLXY.V) to Launch BTC Funds and Accenture (NYSE: ACN), SAP (NYSE: SAP) and R3 to Build Real-Time Gross Settlement System
Point Roberts, WA and Delta, BC - October 25, 2019 (Investorideas.com Newswire) Investorideas.com, a leader in crypto and blockchain investing news brings you today's edition of the Crypto Corner podcast and commentary on what's driving the cryptocurrency market.
Listen to today's Crypto Corner Podcast:
#CryptoCorner:Twitter (NYSE: $TWTR) CEO Skeptical of Libra, Galaxy Digital (TSXV: $GLXY.V) to Launch BTC Funds and Accenture(NYSE:ACN), SAP (NYSE:SAP) and R3 to Build Real-Time Gross Settlement System
Twitter (NYSE: $TWTR) CEO Skeptical of Libra, Galaxy Digital (TSXV: $GLXY.V) to Launch BTC Funds and Accenture (NYSE:ACN), SAP (NYSE:SAP) and R3 to Build Real-Time Gross Settlement System
Stocks discussed: (NasdaqGS:FB) (NYSE:TWTR) (TSXV:GLXY) (NYSE:ACN) (NYSE:SAP)
Forbes reports that Facebook (NasdaqGS:FB) Co-founder and CEO Mark Zuckerberg received considerable scrutiny from Congress on Wednesday with regard to the company's Libra cryptocurrency project. While Zuckerberg emphasized the aim of Libra in helping the "unbanked", who don't have access to traditional banking and financial services, Congress focussed on the firm's existing problems. For instance, Representative Maxine Waters (D-CA) said:
"I have come to the conclusion that it would be beneficial for all if Facebook concentrates on addressing its many existing deficiencies and failures before proceeding any further on the Libra project."
Others hit on Libra's supposed threat to existing fiat currencies. Congresswoman Nydia Velázquez (D-NY) said:
"Facebook's internal motto was for a long time 'move fast and break things.' Mr. Zuckerberg, we do not want to break the international monetary system."
According to an article from The Verge, Twitter (NYSE:TWTR) CEO Jack Dorsey is similarly skeptical of the Libra project. At a Twitter media event in New York City, Dorsey was asked if he would join the Libra Association. He replied:
"Hell no. I don't know if it's a gimmick,but a cryptocurrency wasn't necessary to make that work. It's not an internet open standard that was born on the internet. It was born out of a company's intention, and it's not consistent with what I personally believe and what I want our company to stand for."
Dorsey was generally sympathetic to cryptocurrencies as a whole, however.
"I think the internet is somewhat of an emerging nation-state in almost every way. It almost has a currency now in the form of cryptocurrency and bitcoin."
Galaxy Digital Asset Management, a division of Galaxy Digital (TSXV:GLXY), will launch two Bitcoin (BTC) funds in November, according to a report from CoinDesk. The report cites an unnamed "source with direct knowledge of the matter" and an appearance by company CEO Michael Novogratz on CNBC wherein he hints at the company's plans:
"People are setting up funds, including ourselves, to allow people easy access to Bitcoin."
"It is just a Bitcoin fund that takes care of custody, takes care of pricing ... it just allows people to invest in Bitcoin without having to set up a Coinbase account, without worrying that their phone is going to get lost."
According to CoinDesk:
The Galaxy Bitcoin Fund will require a $25,000 minimum investment with optional quarterly redemptions. The Galaxy Institutional Bitcoin Fund will allow weekly withdrawals and require minimums higher than $25,000. Both funds will offer professional oversight of bitcoin storage, tax documentation, and client service support.
Accenture (NYSE:ACN), German software firm SAP SE (NYSE:SAP) and blockchain software firm R3 are collaborating on a real-time gross settlement system to enable faster, more efficient, reliable and secure payments between banks and customers. John Velissarios, a managing director and global blockchain technology lead at Accenture, explained:
"Because the current payment settlement infrastructure is highly complex and fragmented, RTGS systems that leverage DLT and cryptographically secure tokenized payments can help central banks improve efficiency and security. The RTGS prototype, designed in collaboration with SAP and R3, demonstrates the next stage of efficiency in payment systems and ultimately, paves the way to linking to tokenized-assets, like equities, to create an increasingly integrated and seamless financial services ecosystem."
Sam Mowers, Investorideas
For investors following the sector Investor Ideas has a comprehensive Bitcoin, Blockchain and Digital Currency Stocks Directory
About Investorideas.com - News that Inspires Big Investing Ideas Investorideas.com is a recognized news source publishing third party news, research and original financial content. Learn about investing in stocks and sector trends with our news alerts, articles, podcasts and videos, looking at cannabis, crypto, AI and IoT, mining, sports biotech, water, renewable energy and more. Investor Idea's original branded content includes the following podcasts and columns : Crypto Corner , Play by Play sports and stock news column, Investor Ideas Potcasts Cannabis News and Stocks on the Move podcast and column, Cleantech and Climate Change, Exploring Mining the AI Eye .
The Investorideas.com podcasts are also available on iTunes, Spotify, Tunein, Stitcher, Spreaker.com, iHeartRadio and Google Play Music.
Visit the Podcast page at Investorideas.com:
Disclaimer/Disclosure:Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investing involves risk and possible losses. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. Contact management and IR of each company directly regarding specific questions.
More disclaimer info:https://www.investorideas.com/About/Disclaimer.aspLearn more about publishing your news release and our other news services on the Investorideas.com newswirehttps://www.investorideas.com/News-Upload/ and tickertagstocknews.com
Investorideas.com news content is not meant to be a solicitation to buy or sell cryptocurrencies and Investorideas.com does not directly sell cryptocurrencies; but acts as a news and research resource for interested investors following the blockchain sector.
Copyright and ownership: Crypto Corner is an Investorideas.com content brand
Follow us on Twitter https://twitter.com/Investorideas
Follow us on Facebook https://www.facebook.com/Investorideas
Follow us on YouTube https://www.youtube.com/c/Investorideas
Download our Mobile App for iPhone and Android