Facebook along with their partners are contemplating a redesign of Libra; the changes could include the network accepting multiple coins,...
A new Harris Poll survey by Ondot Systems asked Americans their thoughts about banking with big tech companies like Apple,...
There was a lot of talk surrounding Facebook’s launch of Libra last year with varying opinions on if the company...
2019 saw a number of big moves from big tech companies when it came to financial services and 2020 is...
Capital One recently suffered a data breach resulting from poor security practices that exposed 100 million credit card applications and accounts. They expect the breach to cost the company $150 million. Two years back, Equifax lost 140 million identities, again from poor security practices. At the time, I said that according to GDPR this should cost them $150 million. They have since settled for about $600 million -- though some of that seems to be in-kind services coverage like free credit monitoring (lol!). Separately, Facebook has settled for a $5 billion fine associated with the Cambridge Analytica privacy "breach".
The markets for cryptocurrencies and blockchain technologies has taken many different turns in the last few years; regulators have certainly...
The idea of Apple, Google, Amazon or Facebook getting into banking is not new. The possibility has been discussed for...
In the long take this week, I try out a contrarian point of view on personal finance chatbots. Trim, a savings chatbot, just withdrew support from Facebook Messenger. While lots of other chatbots are still invested in conversational banking, what could we take away from the counterfactual of chatbots failing to get B2C traction? What is the impact on the rest of the platform wars waged by Amazon, Google, and Tesla for connected homes, cars, and the Internet of Things?
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·I've seen a whole bunch of headlines this past week about how Facebook is launching its version of the "Supreme Court", as if that were an app feature. The oversight board is meant to police controversial content decisions, and have the power to overrule Zuck's judgment on political matters. Its charter is drafted as if Facebook's 3 billion users were citizens of an Internet nation. Add to this the insanity over WeWork's failing IPO plans, where the CEO has been personally named in the amended filing documents with clear checks on demonstrated abuses of power. We are drifting into a Twilight Zone episode where modern corporations act as if they were feudal states run by divine kings negotiating with their nobility over a Magna Carta. Which is actually sort of where we are.
The New York Times reports that 7 of Libra’s partners are quite wary of the new project; according to the...