Tech news roundup: HPE Discover 2019, Facebook’s Libra cryptocurrency, and Google Cloud’s debacle
This week’s TechRepublic and ZDNet news stories include a look at the companies that hire the most data scientists, four significant impacts of a security breach, and a first-hand account of a major hack job.
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On June 18th, Facebook officially launched its “Libra” cryptocurrency project, which aims to leverage blockchain technologies to create a new stable cryptocurrency backed by a basket of fiat currencies. Facebook says its aim is to enable accessible and affordable digital payments for billions of people, including un/underbanked people across the world. It aims to make sending payment as easy as sending a message across its digital platforms for its 2.7 billion global users.
Also: Cryptocurrency 101: What every business needs to know
Just weeks ago, the media was awash with calls to break up Facebook and reduce its influence. Considering this background, the launch of the Libra project seems brazen. But what is even more strange, is Facebook’s decision to launch a cryptocurrency as part of this project. Launching a traditional payment system to better compete with the likes of Alipay and WeChat Pay would have not attracted such ire from governments and would have probably had a better chance of success.
This post was written by Analyst Meng Liu, Vice President and Research Directors Benjamin Ensor and Frederic Giron. This originally appeared here.
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