A cell phone showing the facebook app UI, in which the term Project Libra is searched for

Opinion: Libra – Facebook’s Attempt to Establish a World Currency

Introduction

Photo of Mark Caruso, Senior Project Manager at trimplement
Mark Caruso, Senior Project Manager at trimplement, gives and outlook on  Facebook’s Libra currency.

Since project Libra was revealed by Facebook two weeks ago, it sparked controversial discussions around its potential as an international currency, its presumed economic impact, and its technical implementation. In this article I will try to shed some light on the technical and the economic sides of the project, to see whether Libra has the required momentum to become Facebook ́s next-generation revenue booster and a meaningful (and powerful) currency for the masses. 

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A set of coins, jammed into a wedge, symbolizing stablecoins

Opinion: Stablecoins – Next Generation (E)Money

Photo of Mark Caruso, Senior Project Manager at trimplement
Mark Caruso gives his opinion on
what role stablecoins will
play in the emoney sphere.  

Definition: “Stablecoins are cryptocurrencies designed to minimize the volatility of the price of the stablecoin, relative to some “stable” asset or basket of assets. A stablecoin can be pegged to a currency, or to exchange traded commodities (such as precious metals or industrial metals). Stablecoins backed by currencies or commodities directly are said to be centralized, whereas those leveraging other cryptocurrencies are referred to as decentralized” – Wikipedia

Stablecoins by their nature aren’t necessarily a new invention to the financial world. Their basic characteristics have already been described in the first Electronic Money Directive (2000):

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The Compliance Factor in FinTech

FinTech – or – It takes more than a few lines of code and an API to crack the bank-dominated world open.

We started online payment systems and eMoney wallets all the way back in 2001. Looking back at the past decade and the development that took place in the financial technology sector during this time, with certainty we can tell: Now is the right time to be in FinTech! All eyes are on FinTech startups – but not just on the innovations it brings. Regulators are watching the innovative startups closely as they fall into the trap of underestimating “The Compliance Factor“ one after the other.

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