Libra Facebook cryptocurrency launch January 2021 but it won't be as ambitious a project as thought: Libra, the cryptocurrency created by Facebook, could launch next January, although the project will not be as ambitious as it initially seemed, people close to the initiative confirm to the Financial Times.
The Libra Association, based in Geneva and charged with issuing and governing the project, plans to launch a single stablecoin (cryptocurrency associated with a reliable currency or other goods such as gold to provide more price stability) backed by the dollar, despite the initial intention being to launch several, as they explained in April.
The specific day of the launch will depend on the approval of the Swiss authorities (FINMA), but it is expected to be in January, according to sources to which the Financial Times has had access. At the moment, they have not commented on the technological project.
The technologist announced the creation of Libra in the summer of 2019, but the project stalled and was considered even by some experts as a "provocation" on the part of the company. Regulators also considered it a threat to monetary stability and become a new way of laundering money.
At first, the cryptocurrency had the support of major players in the sector, such as PayPal, Mastercard, Vodafone and eBay, But these have been distancing themselves from the project.
Libra Facebook cryptocurrency launch January 2021
The controversies in which Facebook has been embroiled in recent months have not done Libra any favors either: from Cambridge Analytica to bugs in its software that have caused the photos of millions of users to be shared.
The announcement has come at a time when investors seem to be relying on cryptocurrencies as a safe haven value, which has caused the prices of these crypto assets to skyrocket in recent weeks.
Bitcoin, the best-known cryptocurrency, is around dólares 19,000 and is getting closer to the all-time highs recorded in December 2017.
The technology giant, like others, has shown a great interest in entering the financial sector, with a strong commitment to the segment of online purchases and payments.
Facebook launched Facebook Pay in November last year, a new payment method developed by the company itself and which wants to extend to all its apps.
Facebook announced Facebook in August the creation of a new Department, Facebook Financial, focused on driving business opportunities in the online payments and e-commerce segment. At the head of the team is David Marcus, co-creator of Libra.
Libra Facebook cryptocurrency launch January 2021
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France will introduce in January a" repairability index " on technological products and Europe has just approved exactly the same: this will affect you
France will introduce from January 2021 a new label on technological products sold in its large supermarkets. It will be a label with a "repairability" index. With a rating from 0 to 10, consumers will be able to choose those products whose repair can be easier.
The news comes after the European Parliament this week voted on a new policy to "develop and introduce regulatory frameworks that provide clarity, and visible and understandable information to customers about the estimated lifespan and repair capacity of products from the moment they are purchased," GSMArena details in this article.
This new label arrives on the French market in 2021 after the Gallic country approved a regulation to this effect in February of this year. The initiative starts from the Ministry of ecological transition of Galicia, detecting that in the country only 40% of technological products are repaired when they reach the end of their useful life.
On the official website of the French repairability Index several products such as laptops, mobile phones, televisions and even vacuum cleaners are already waiting to be rated. The French reparability index will have to be calculated by the manufacturers of the products themselves taking into account various factors.
The criteria that will mark the note which products get on this new index are determined by the instructions of the articles and their accessibility, the capacity of being removable, how easy or not it is to find parts of the article in the market, as well as the price of the same. The last factor to consider is precisely the type of item on sale.
On January 1, 2021 this index will appear on all technological products on sale with the aim of"raising consumer awareness about the possibility of repairing products". The initiative comes from the French Ministry of ecological transition, although it is an easy measure to transpose to other European states.
In Europe too
BEUC, a European Consumer Organisation coordinator, welcomed the European Parliament's vote this week and approved a measure similar to the French one, after it was outlined months ago.
What has been adopted in Parliament by an absolute majority are recommendations emanating from the Parliamentary Committee on the Internal Market. The euro Chamber, explains BEUC, plans that the future regulation harbors legal guarantees so that consumers know the useful life of the products as well as their planned obsolescence, while there is the new "right to repair" making the components more accessible on the market.
"BEUC welcomes this initiative, which makes clear the position of the European Union: manufacturers must help their customers enjoy more durable and sustainable products."
In Spain, for the moment, there is no initiative on the horizon in this regard. The Ministry of Consumer Affairs headed by Alberto Garzón launched a campaign this week, 'think. Then, buy'. Its aim is to raise awareness about the effects of compulsive consumption on the environment and to support local trade.
"If this pandemic has taught us many things, one of the most important is the fragility of biological systems and must make us see in it the fragility of our proposal and how it impacts consumption", stressed this week the minister.
It all comes after a week in which France and the mayor of Paris herself, Anne Hidalgo, recommended not to buy on Amazon to support proximity trading.