Weekly Highlights

Weekly Highlights 20 Oct: Facebook’s Libra faces uphill tasks

#1 Facebook’s Libra faces new challenges 

Beside getting rejected from Visa and Mastercard recently, a new wave of criticism comes from the German Finance Minister claiming that the creation of a world currency or Facebook’s Libra, in this case, should be prevented and at the same time, claiming that the creation of a world currency is the responsibility of democratic states.

Hypocritical much?

But the concern of stablecoins being used as a tool to money laundering and terrorist financing is very real. The reach and anonymity of Facebook’s users could potentially offer bad-doers the perfect tool for their nefarious doings. It is an issue that Facebook needs to address and potentially eradicate before regulators around the world will come to accept a world currency like Libra.

Stablecoins are digital currencies backed by traditional money.

https://www.reuters.com/article/us-imf-worldbank-facebook/facebooks-libra-cryptocurrency-should-be-prevented-german-finance-minister-idUSKBN1WX23A

https://www.reuters.com/article/us-facebook-cryptocurrency-ebay/facebooks-libra-currency-abandoned-by-major-financial-companies-idUSKBN1WQ2KL

 

#2 New revelation from Boeing 

It seems that Boeing can’t seem to catch a break. A transcript of a message that took place in 2016 between two employees within Boeing claimed that the MCAS anti-stall system was ‘running rampant’ in a flight simulator.

https://www.reuters.com/article/us-ethiopia-airplane-boeing-exclusive/boeing-pilots-messages-on-737-max-safety-raise-new-questions-idUSKBN1WX25G

https://www.bloomberg.com/news/articles/2019-10-11/how-a-dumbed-down-calculation-helped-boeing-certify-737-max-jet?srnd=premium-asia

 

#3 Trump to sign a deal with China in Nov?

Is the trade war finally over? Stock market to rally? Yeah!!!

https://www.reuters.com/article/us-usa-china-trade-timing/trump-hopes-u-s-china-trade-deal-will-be-signed-by-middle-of-november-idUSKBN1WX28B

 

Have a good week ahead.

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