Libra's "possible competition restrictions" / Libra can't act as a global currency / Libra bootcamp

Inside Libra presented by Airbnb.

Presented by Subscribe | View in browser Happy Wednesday everyone! I hope you're all doing well and your week is going just as you'd planned. I do hope that you're enjoying the Top 100 Bitcoin list that I've put together. I've added a few new names to the list this week that I think are pretty amazing, some of which include: Connie Gallippi, founder and executive director of BitGive, a Bitcoin 501(c)(3) nonprofit organization, Saifedean Ammous, author of the Bitcoin Standard, Gavin Andresen, a software developer and best known for his early involvement with Bitcoin, and Amber Baldet, co-founder and CEO of Clovyr, a decentralized application store. Aside from being kick-ass people, each of those that I've list are helping to build on the crypto and blockchain space in various ways that makes it an exciting place to get involved with. What do you think? You can find my list here. Once again, if there is someone that you think should be added let me know in an email.       1. The European Commission is looking into Facebook's Libra project, citing "possible competition restrictions" with the proposed stablecoin. According to a document, the EU authority is concerned that the launch of the coin would shut out rivals regarding the information that will be exchanged and the use of consumer data. In a bid to find out more, the EU regulator has sent out questionnaires to the groups linked to Libra such as those within the Libra Association. This is the latest hurdle faced by the social media platform and its plans to launch a global currency that could, potentially, be used by its more than two billion users. Last week, Erik Voorhees, the founder and CEO of ShapeShift, a digital asset exchange, said that Facebook's proposed Libra could "weaken the U.S. dollar." –BLOOMBERG       2. Bitcoin advocate Andreas Antonopoulos has said that Facebook's Libra can't act as a global currency because its services are limited to a few countries. In an interview, he stated that Facebook is bound by U.S. jurisdiction, so it will have to identify and verify its users if it wants to extend its financial services. Another hurdle the coin is likely to face, according to Antonopoulos, is the fact that it will have to comply with sanctions, embargoes, and currency regulations. He thinks it will end up serving a few countries similar to how PayPal functions. –BE IN CRYPTO       A MESSAGE FROM AIRBNB Earn money by sharing your space. Millions of travelers stayed in an Airbnb last year. Turn your extra space into extra money. Learn More 3. In this opinion post, the writer argues that Facebook should stop trying to disrupt the payments industry and instead focus on repairing its social media business. In the article, it highlights how simple it has been for Uber and Lyft to become multibillion-dollar public companies, yet when startups try to step into highly regulated industries such as healthcare, insurance, or the payments sector, regulators come down hard on them. According to the post, regulators tend to look at four things: intentions and previous compliance, consumer benefit, and capability. Looking at each one in turn, the writer concludes that while Facebook has some great ideas in Libra, it should instead focus on adding "privacy and decentralization" to its social media business rather than trying to disrupt the payments industry. –THE NEXT WEB       4. Israeli startup Libracamp is the first incubator for development on the Libra testnet despite Facebook admitting to the U.S. Securities and Exchange Commission (SEC) that it may not be "made available in a timely manner, or at all." Underterred by this, Libracamp has seen over 80 projects applying for the five spaces available on its virtual bootcamp, which begins in November. The team behind the startup are fundraising for the $1 million prize, which will go to the winning team. So far, $125,000 has been committed to the November bootcamp. They are also planning to launch a second bootcamp in 2020. While Facebook's Calibra team is in touch with Libracamp, they aren't officially sponsoring the program. –COIN DESK       A MESSAGE FROM JAMF Make managing Apple devices easy with Jamf Now Set up and configure all your devices quickly and consistently, deploy updates and reassign app licenses as needed, and have peace of mind knowing your data is safely secured with Jamf Now — all via one centralized, cloud-based solution. Manage your first 3 devices free, get started today. 5. Earlier this month, MK Marsden, co-founder and chief product officer of Zytara, said at the Blockchain Futurist Conference that Libra is "already known by 16 percent of adults in the U.S." She went on to say that this was achieved in just one month after its unveiling. This is compared to Bitcoin, she noted, which took 10 years for it to be recognized by 58 percent of U.S. adults. Ethereum, which launched in 2015, has only attained a 12 percent recognition score. –@Futurist_conf/TWITTER       6. MIT fellow Alex Lipton alleges that Facebook "lifted" the idea of the Libra currency from a 2018 paper he published alongside Thomas Hardjono and Alex "Sandy" Pentland. In an interview, Lipton argues that the "actual structure of Libra is pretty much lifted verbatim from the paper." He added that he and his colleagues' work wasn't mentioned in the Libra document released in June. –BITCOIN AFY       7. The Libra currency has yet to launch and is currently in the testnet stage. Yet, for some, thinking long-term is the way forward. Taking to Reddit, the question "what if your salary was paid in Libra?" was posted. Even though the responses were limited, there seemed to be a balanced view. One user said they would back it, whereas another stated they would find another job. A third, however, said that it depended on the availability of on and off-ramps, which enables the sending and receiving of payments. –REDDIT       This newsletter was written and curated by Rebecca Campbell. She has been writing and reporting on various industries for the past 10 years, more specifically tech in the last three. Connect with her on Twitter. Editor: David Stegon (senior editor at Inside, whose reporting experience includes cryptocurrency and technology).       Ad Earn money by sharing your space. List your place now. Make managing Apple devices easy with Jamf Now. Try it free today.

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