Facebook is unworthy of your trust…
Facebook pilots Novi crypto wallet with Coinbase, Paxos
Social media giant Facebook has tapped Coinbase and Paxos for its forthcoming Novi digital wallet project, which kicked off its pilot testing phase in the United States and Guatemala on Tuesday.
Beginning Tuesday, a small cohort of users in both countries will be able to download the Novi digital wallet app on iPhone or Android devices and add money to their accounts with a debit card. From there, they will be able to send and receive money using Pax Dollar (USDP), a dollar-backed stablecoin issued by blockchain trust company Paxos.
Facebook selected USDP in its pilot program because of its proven track record and “important regulatory and consumer protection attributes.” Because USDP reserves are fully backed by cash, Novi users will have the ability to withdraw their money in their local currency.
Customer funds will be custodied with Coinbase, which manages $180 billion in assets.
A spokesperson for Facebook told Cointelegraph the pilot phase will allow Facebook to evaluate the wallet’s core functions and showcase operational capabilities, specifically those around customer service and compliance. Novi is also being designed for interoperability with other digital wallets.
The spokesperson stated that the company has not abandoned support for the Diem network, a permissionless payment system that is still awaiting the green light from Washington. “We intend to launch Novi with Diem once it receives regulatory approval and goes live,” they said. <Source>
Consider a future with Facebook controlling your money…
Facebook name change: I don’t give a crap what they call themselves, it’s the same malevolent company in cahoots with the progressive communist democrats…
Following in the footsteps of Google’s transformation to Alphabet, rumors abound that Facebook wants to rebrand itself with a new name reflecting more than its social media roots. Under the plans, reported by The Verge, Facebook would change the name of its holding company but not that of its eponymous social media platform, known internally as the “big blue app”. As well as its founding site, the company also owns Instagram, WhatsApp, and the virtual reality brand Oculus.
Who cares? Same management. Same lack of ethics.
I believe that Facebook head honcho Mark Zuckerberg should be investigated and prosecuted for his overt and deliberate interference with the 2020 elections, regardless of the non-profits and other entities he used to launder his political contributions.
As for Facebook being a player in the cryptocurrency marketplace, I say “no effin way.”
We are so screwed.
“Nullius in verba.”-- take nobody's word for it!
“Beware of false knowledge; it is more dangerous than ignorance.”-- George Bernard Shaw
“Progressive, liberal, Socialist, Marxist, Democratic Socialist -- they are all COMMUNISTS.”
“The key to fighting the craziness of the progressives is to hold them responsible for their actions, not their intentions.” – OCS "The object in life is not to be on the side of the majority, but to escape finding oneself in the ranks of the insane." -- Marcus Aurelius “A people that elect corrupt politicians, imposters, thieves, and traitors are not victims... but accomplices” -- George Orwell
“The key to fighting the craziness of the progressives is to hold them responsible for their actions, not their intentions.” – OCS
"The object in life is not to be on the side of the majority, but to escape finding oneself in the ranks of the insane." -- Marcus Aurelius
“A people that elect corrupt politicians, imposters, thieves, and traitors are not victims... but accomplices” -- George Orwell