EU to Launch Antitrust Investigation Against Libra

Margret Westagher, EU competition commissioner, believes the launch of Libra could lead to the creation of a completely separate economy
02 October 2019   406

EU competition commissioner Margret Westagher has launched an investigation into the digital currency project from Facebook. Her concerns are caused by the potentially anti-competitive nature of Libra.

In her opinion the launch of Libra could lead to the creation of a completely separate economy, which would put those who do not use digital currency at a disadvantage.

Westager called the investigation a “non-trivial step” for the agency, because for the first time they have to ask questions about what does not exist. The regulator will find out whether Facebook intends to become a platform for the sale of third-party goods and services.

Westager added that the EU central banks will study the risks to financial stability associated with Libra.

Meanwhile, the US Federal Reserve Board has expressed concerns that Facebook is creating a shadow banking system. Potential consequences for banks include the outflow of deposits and the decline in payments. The board on a rotational basis includes the heads of 12 American banks.

Venezuelans to be Able to Send BTC Offline

Local developers are creating two device in the framework of the Locha project - Bitcoin mesh network, based on radio
22 January 2020   73

In Venezuela, the development team is preparing a Locha solution that will allow Bitcoin operations without connecting to the Internet.

The solution is a mesh network. The developers are also working on two devices that will allow you to connect to the Bitcoin blockchain using long-range radio waves.

The first, dubbed Turpial, is a simpler version of a radio transmitter that works at distances of one to two kilometers in urban areas. The second, Harpia, is a limited radio module for small computers.

Both devices are portable and run on battery power.

It is reported that in the future the solution can be integrated with any other blockchain, as well as messaging and file transfer systems such as IPFS.

We are making something for the situations where you don't have Internet at all, either due to lack of infrastructure, targeted censorship or in case you want to be completed anonymous so you don't want to expose your home/phone IP address that is linked to your identity.

 

Randy Brito

Member of the Bitcoin Venezuela 

He also explained that the network would not necessarily rely on nodes connected to the Internet via a landline telephone. Users with satellite dishes can also act as gateways and relay data.

It is expected that the development of devices will be completed by the second quarter of 2020. However, how much time will be required for their further production is still unknown.

Locha will be an open source project so that developers can use it in the future to create similar solutions.