Listen: Facebook, Laura Mccracken And David Marcus discussed on Techmeme Ride Home
"Two quick hits on the Facebook coin front tech crunch says that Facebook plans to release a white paper explaining the basics of its cryptocurrency later this month, June eighteenth to be specific ahead of a formal launch in twenty twenty. If you don't know, white papers are the sort of Hello world foundational documents of crypto currencies, quote, the company's head of financial services and payment partnerships for northern Europe. Laura McCracken German magazine. Jeez. The German words were Schrafft's wa-, she's Sebastian Kirch that the white paper would debut June eighteenth. And that the cryptocurrency would indeed be pegged to a basket of currencies rather than a single one like the US dollar to prevent price fluctuations, Kersh tells me, I met, Laura at money twenty twenty Europe in Amsterdam on Tuesday after she watched fellow Facebook payments. Exotic Paulette rose talk, quote. She told me that she wasn't involved in what Facebook Blockchain's. David Marcus's team was doing, but that I'd have to wait until June. Eighteenth win a way paper was supposed to be published to get more details and quote, she told him she thought the date was already publicly known fact which it wasn't then yesterday tech crunch received requests Ray June eighteenth news embargo from one of the communications managers for Facebook. Blockchain team, the information's Alex heath, and John Victor also reported yesterday that Facebook's crypto currency project would launch later this month, and quote, and the information is reporting that Facebook intends to create an independent foundation to manage its cryptocurrency, charging members, a ten million dollar licensing fee for the right to operate nodes, quote note operators could send their own representatives to the foundation to help steward the network. It isn't known how the node operators will profit from their participation. But note operators are typically rewarded for their efforts. Through newly unlocked tokens or transaction fees from users Facebook hopes to launch the network with one hundred nodes in an effort to limit the control. A single entity can have over it, according to multiple people familiar with the matter, although that number is far lower than on other cryptocurrency networks. Bitcoin in comparison has thousands of nodes validating transactions"