Facebook’s Libra Currency Could Threaten the Global Financial System. Here’s How

This week, both the Senate Banking Committee and the House Financial Services Committee grilled Facebook’s David Marcus, head of the Libra cryptocurrency project. Lawmakers bluntly laid out a variety of doubts about the Libra proposal, including whether the system could prevent money laundering, and whether Facebook should be trusted to collect transaction data, given its […]

Exclusive: Visa Pours Millions into Cryptocurrency Startup Anchorage

Visa has invested millions of dollars in Anchorage, a startup that secures cryptocurrency holdings for institutional investors. The two companies are founding members of Facebook’s high-profile cryptocurrency project Libra. Visa co-led Anchorage’s new funding round, worth $40 million, alongside Blockchain Capital, a cryptocurrency-focused venture capital firm. This is the second known investment Visa has made […]

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’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.” […]

Circle CEO: Zuckerberg Is ‘Betting on Decentralization’ With Facebook’s Libra

It comes as no surprise that Facebook’s new cryptocurrency Libra is causing a stir–especially with increasing privacy concerns and government scrutiny of the company. While politicians in Washington and Europe alike expressed concerns over the prospective digital currency, blockchain insiders are looking ahead to Libra’s applications–and not just as another cryptocurrency. “Everybody’s been focused on […]

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 […]

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 […]