Will Facebook’s Libra Become the Go-To Payment System Where Banks Fall Short?

Europeans and Americans have their Visa and Mastercards. For everyone else, here comes… Libra? Facebook’s new Libra digital currency is aimed at a huge potential market for financial services–the entire developing world, with billions of people in areas such as India and Sub-Saharan Africa, where financial services are often less sophisticated and many people don’t […]

What Big Banks Say About Being ‘Screwed’ By Technological Change — Data Sheet

Adam Dell, the head of product for the Goldman Sachs consumer bank Marcus, delivered a zinger to the Brainstorm Finance audience in Montauk, N.Y., Thursday afternoon. “There are only two kinds of banks,” he said. “There are banks that are screwed. And banks that don’t know they are screwed.” Dell can be smug because his […]

What’s Next in Blockchain? Ask This Teenage Engineer

A 17-year-old, brain-computer interface developer is challenging people to rethink the possibilities of blockchain by creating her own encrypted interface where people can share genetic data. Ananya Chadha–the youngest interviewee at Fortune‘s inaugural Brainstorm Finance conference in Montauk, N.Y.–told Fortune Editor-at-Large Shawn Tully that “blockchain is so powerful for things that most people forget about.” […]

‘It’s Just Lazy’: Current’s CEO Lashes Out at Facebook’s Calibra for Its Similar Logo

Facebook announced ambitious plans this week for a new digital currency called Libra along with a subsidiary, Calibra, that will offer digital wallets for storing Libras. Now Facebook is facing criticism for a related detail: Calibra’s new logo looks a lot like an existing one from fintech startup Current. Current, which calls itself “the bank […]

Facebook’s Libra Cryptocurrency and Its Generational Divide — Data Sheet

Facebook’s Libra announcement notwithstanding, a generational divide–attributed more to commercial interests than age–remains between Team Blockchain/Cryptocurrencies and Team Traditional Finance. Over and over at Fortune‘s inaugural Brainstorm Finance conference in Montauk, N.Y., Wednesday the chasm was clear. One side believes nearly religiously in a future that is nifty but has demonstrated next to zero utility. […]

Andreessen Horowitz: How Facebook’s Libra Cryptocurrency Will Be Governed

Everyone is talking about Libra, Facebook’s big splash in the cryptocurrency space, announced on Tuesday. But on Wednesday at Fortune’s inaugural Brainstorm Finance conference in Montauk, N.Y., Venture capital firm Andreessen Horowitz made one thing clear: It will have just as much power as Facebook in overseeing the governance of the new digital currency. Kathryn […]

Tala CEO: How Facebook’s Libra Cryptocurrency Can Help Companies Scale

Facebook’s ambitious plan to release its own cryptocurrency dubbed Libra has been met with an avalanche of concern from regulators worldwide. House Financial Services Chairwoman and U.S. Rep. Maxine Waters (D.-Calif.) called for Facebook fb to pause work on Project Libra, which is slated for release next year, for further regulatory scrutiny. Markus Ferber, a […]

4 Reasons to be Skeptical About Facebook’s Libra Cryptocurrency

Facebook’s big cryptocurrency reveal came with big promises: Libra will make payments more convenient than ever, and help 1.7 billion “unbanked” people access financial services. But the announcement of Libra has not been greeted with universal acclaim. Regulators and industry observers see a range of reasons to be deeply skeptical about what the new cryptocurrency […]

How Facebook’s Libra Will Turbo-Charge Its Ad Empire

Facebook has revealed the details of its Project Libra crypto coin, an ambitious plan to bring digital currency like Bitcoin to billions of people worldwide. The plan will be carried out with dozens of partners, including Uber and MasterCard, and could remake the global payment industry. But what’s in it for Facebook? For starters, Facebook […]

Facebook’s Project Libra: 5 Things to Know About the New Cryptocurrency

After months of speculation, Facebook finally announced details about its new cryptocurrency on Tuesday morning. The digital currency, called Libra, will be available starting next year to the billions of people who use Facebook services like Messenger, WhatsApp, and Instagram. If the new currency catches on, it has the potential to change how people save, […]