Cryptocurrency can be integrated into Facebook

Mark Zuckerberg studies the positive and negative aspects of cryptocurrencies and how best to use them in Facebook
05 January 2018   1062

Facebook CEO Mark Zuckerberg is interested in studying cryptocurrency and encryption technologies with the aim of their possible integration into the world's largest social network.

According to him, one of the most interesting issues in the technology world is the rivalry of centralization and decentralization, and many are beginning to engage in new technology, because they believe that they can be that decentralizing will give more power to ordinary people.

However, today, says Mark Zuckerberg, many have lost faith in this promise. With the emergence of a small number of large technology companies and the increasingly frequent use of technology to monitor citizens by the state, people are convinced that technology is more likely to increase centralization.

There are important counter-trends to this --like encryption and cryptocurrency -- that take power from centralized systems and put it back into people's hands. But they come with the risk of being harder to control. I'm interested to go deeper and study the positive and negative aspects of these technologies, and how best to use them in our services.
 

Mark Zuckerberg

CEO, Facebook

Last year, experts on security and technology from Facebook and Google announced their intention to defend the "digital democracy" of the United States with the help of blockchain technology.

Societe Generale to Issue ETH DLT Based Bonds

Societe Generale SFH used the OFH security token, based on Ethereum's public blockchain to issue secured bonds for 100 million euros
24 April 2019   79

French banking corporation Societe Generale Group issued bonds in the form of security tokens, using the public Ethereum blockchain.

On Tuesday, the company announced that its division Societe Generale SFH used the OFH token to issue secured bonds worth 100 million euros. According to the investor services of the rating agency Moody’s, Societe Generale turned out to be the “sole investor” of the financial instrument and did not involve any third-party participants in its purchase.

A bond is issued for a five-year term with a 12-month grace period. The security presented by a token gives its holder the same rights as that issued in traditional form.

Moody’s argues that the use of the blockchain can have a positive effect on the rating of a financial institution, in particular due to increased transparency and reduced likelihood of errors resulting from the difficulties and the number of intermediaries involved in the process of issuing secured bonds using traditional means.

PwC auditing company acted as a technology consultant for the project, while French law firm Gide Loyrette Nouel provided legal support.

Earlier this month, Societe Generale-owned private bank Kleinwort Hambros announced the creation of a exchange traded note, intended for investment in the blockchain industry.