Facebook's Calibra Wallet and Libra Cryptocurrency Services will not be available in Multiple Countries including India and China!

Facebook's Calibra Wallet and Libra Cryptocurrency Services will not be available in Multiple Countries including India and China!


 Facebook is looking to change the landscape of financial services worldwide and this past Tuesday, a remarkable progress was made when the company revealed its Libra cryptocurrency and Calibra digital wallet. Facebook’s goal is to enable over 1.7 billion people, without bank accounts, across the globe to take part in financial activities. 

As revolutionary as it can be, a significant part of human population would not be able to take advantage of this digital payments service. 

A Calibra spokesperson revealed to TechCrunch that the wallet will not be available in the countries that are sanctioned by U.S. or have banned cryptocurrencies. Custodial Wallet Providers will decide where the service will be available and where it won’t be. 

This apparently means that Facebook’s biggest market, India will be among the countries where this service will be unavailable. This was later confirmed by a spokesperson. Additionally, China, Iran and North Korea are some of the countries where Facebook is banned so it’s safe to assume that Calibra wouldn’t launch in either of these countries as well. 

Concerned about the “contagious” effects of Cryptocurrency, India’s Reserve Bank informed the Supreme Court about the currency’s impending harms. It wasn’t long ago when the country prepared a bill to penalize anyone “mining, selling, holding, disposing, transferring or dealing” in cryptocurrencies to a 10-year prison sentence. 
Facebook mentioned a couple of days ago that Calibra will be available on Messenger, Whatsapp and a dedicated app of its own. This announcement led to a confusion in India as in the country, WhatsApp Pay is available. For those of you unaware, WhatsApp Pay is a person-to-person payments service available via WhatsApp only in India. 

WhatsApp Pay is built on top of UPI or Unified Payments Interface which is responsible for millions of financial transactions in the country every month. A WhatsApp spokesperson confirmed to TechCrunch that efforts to improve WhatsApp Pay shall be continued as planned. 

The Payments service at the moment empowers over a million Indian WhatsApp users and the Messaging Behemoth is adamant on making the service available throughout the nation.

Facebook's Calibra wallet won't launch in some biggest markets
Photo: REUTERS/Dado Ruvic
Source of the post : https://www.digitalinformationworld.com 

Comments

Post a Comment

Popular posts from this blog

You know Instagram Is Testing Three New Features, Collaborative Posts, Limited Comments and Sell Button On The Profile

Image
You know Instagram Is Testing Three New Features, Collaborative Posts, Limited Comments and Sell Button On The Profile Instagram is one of the most popular social media platform in the social media world currently and it has a large following to it. The tech giant realizes the amount of people that are in line with application therefore it makes efforts to bring about new features and tools which will help them to keep their audience intact and growing and also to make their application a user friendly space for everyone. Currently, the application is planning on introducing three new features. The first feature which has just recently been discovered by Alessandro Paluzzi who is a mobile developer and known for uncovering hidden/unlaunched features on social media applications. The feature is called “Collaborative Posts” and according to its detail it allows creators account to share a collaborative post. One account will send a collaborative post request to the other creator accoun
Read more

10 Proven Ways to Make Your Content Go Viral [Infographic]

Image
10 Proven Ways to Make Your Content Go Viral [Infographic] Content marketing is a  digital marketing  strategy where businesses share information that is useful or valuable to their audience, with the goal of growing their business. It’s the goal of every marketer to have their content go viral: to be shared and reshared  thousands and even millions of times. Content marketing is used by  SEO ,  digital marketing  and PR agencies to help their clients grow their online visibility and their business. What makes content go viral – to be shared and reshared ? The team at Buzzsumo analyzed more than 100 million articles to understand why content goes viral. Here are 10 proven strategies to help your content go viral. 10.  Be transparent and get way more shares Google+ articles with a byline/bio have 42% more social shares. Take Away:  Having an author byline increased shares on every major social platform, except Facebook. 9.  Get top influencers to share your content 1 influential person’
Read more

social media manager schedule checklist

Image
social media manager schedule checklist You spend part—maybe all—of your day on social media, hopping from network to network, checking analytics,  planning   ahead, and performing the sundry tasks of a social media manager job. Would it help to know that you’re not alone with keeping such a varied schedule? That your time on social media is shared by others? I was curious for myself whether my social media marketing manager workload and workflow were similar to someone else’s. Do we perform the same tasks? Do we create similar content? And, perhaps most importantly, do we take the same amount of time to do the same tasks? Here’s what I found. Inside a Social Media Manager’s Schedule Social media tool Socialcast  compiled the times and tasks of a typical social media manager schedule  and placed them into this interesting infographic. Clearly, social media managers can put in a full day’s work. Morning: Check email Reply and retweet Post to social media Publish a blogpost Curate conten
Read more