Technology behemoth International Business Machines (IBM) is open to working with Facebook on its Libra stablecoin, CNBC reported on Sept. 23. IBM’s general manager of blockchain services Jason Kelley said that the company is looking to spur collaboration in the space, noting that “blockchain is a team sport.” He also highlighted the firm’s openness to the idea of collaborating with Facebook: “Our clients are ready to work with [Facebook] and we’re ready to work with all of them to bring it together.” Tokenization, not cryptocurrencies IBM has created its own blockchain, which the company claims enables greater “transparency around everything …

Facebook has acquired the artificial intelligence-based chat-bot startup Servicefriend for customer service for Calibra, the digital wallet for Facebook’s planned Libra cryptocurrency. AI chatbots for Calibra’s customer service A Sept. 19 article by Israeli business newspaper the Marker reported that Facebook has acquired startup Servicefriends in order to build a messaging bot for customer service for Calibra. Announcing Libra and Calibra, Facebook said that it wanted to reach unbanked consumers and give them access to financial services and to make Calibra available through a specially created app and via its WhatsApp and Messenger platforms. Servicefriend provides artificial intelligence-powered messaging bots …

Coming every Sunday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link. Top Stories This Week Altcoins continue explosive bull run while Bitcoin stalls Not too long ago, Bitcoin (BTC) diehards were warning that altcoins are dead. “The altcoin phenomenon is finished,” RT host Max Keiser said in July. But, based on this week’s performance, the rumors of their death may have been greatly exaggerated. In recent days, Bitcoin has been …

David Marcus, the head of Calibra at Facebook, has said that a 2020 launch for Libra remains the company’s goal, despite regulators’ intense hostility toward the project. In an interview with Swiss newspaper NZZ on Sept. 20, he said that in the intervening time, the team behind Libra would need to address all concerns adequately and to create a suitable regulatory environment. “I see Libra facing greater user acceptance problems than regulatory ones” Marcus addressed regulators’ fears that the social media giant’s planned stablecoin could potentially disrupt central bank monetary policy and destabilize the global financial system. Such concerns have …

The United States House of Representatives Committee on Financial Services has scheduled a hearing with Securities and Exchange Commission (SEC) Chairman Jay Clayton and four other SEC commissioners to discuss, among other topics, crypto. In a memorandum from Sept. 19, the Committee on Financial Services stated that it will hold a hearing on Sept. 24 entitled “Oversight of the Securities and Exchange Commission: Wall Street’s Cop on the Beat.” Present alongside Clayton will be Commissioner Hester Peirce (also known as Crypto Mom) and another three officials. Libra coin could amount to a security The Committee on Financial Services has included …

Facebook CEO Mark Zuckerberg is continuing to meet policymakers in Washington, D.C. to discuss “future internet regulations” — most recently with Senator Josh Hawley. “A frank conversation” On the afternoon of Sept. 19, Sen. Hawley wrote on Twitter: “Just finished meeting with CEO Mark Zuckerberg. Had a frank conversation. Challenged him to do two things to show FB is serious about bias, privacy & competition.” Hawley has asked Zuckerberg to consider selling WhatsApp and Instagram, and to submit to an independent, third-party audit on censorship. According to Sen. Hawley, the executive had a clear and short answer to both requests: …

Facebook’s Mark Zuckerberg had dinner with a handful of United States lawmakers, where he was met with intense scrutiny of Facebook’s proposed Libra stablecoin project. Zuckerberg grilled by Democratic lawmakers According to an article by the Washington Post on Sept. 19, Democratic Senator Mark R. Warner said Zuckerberg heard “consistent concerns about privacy, concerns around vile content and how it came to be dealt with.” The U.S. senator said specific questions were asked about Facebook’s plans to launch Libra, a cryptocurrency that has seen plenty of scrutiny in recent months from policymakers around the world. Warner added: “One of the …

Public authorities across the globe continue to press the developers of Libra, Facebook’s proposed stablecoin-like digital asset. On Sept. 16, Libra representatives met with the Committee on Payments and Market Infrastructure (CPMI), a part of the Bank for International Settlements (BIS) — an umbrella group for 60 central banks and monetary authorities — to discuss the regulatory hurdles around stablecoins developed by large financial institutions and tech companies. Members of blockchain-powered digital cash system firm Fnality International and JPM Coin — another stablecoin-like project, hosted by one of the largest private banks in the United States, JPMorgan Chase — were …

Facebook’s Mark Zuckerberg is in Washington for meetings with policymakers to discuss internet regulatory matters such as privacy, competition and its handling of political content. As noted in Bloomberg’s Sept. 19 report, the meetings come after a summer of intense scrutiny of Facebook’s proposed Libra stablecoin project from United States lawmakers and regulators. A social media titan in center stage In a statement, Facebook spokesman Andy Stone indicated that Zuckerberg would be discussing “future internet regulation” with policymakers during his visit. Reportedly at Facebook’s request, Democrat senator and Intelligence Committee ranking member Mark Warner has already helped to organize a …

Facebook reportedly met British authorities and regulators three times prior to publicly announcing plans for its Libra stablecoin. As Reuters reported on Sept. 18, Facebook had several appointments with officials at Britain’s finance ministry, the Financial Conduct Authority and the Bank of England this spring. Reuters received details regarding the meetings after submitting Freedom of Information requests. At the meetings, the tech giant discussed its forthcoming digital currency in a bid to get support before the official announcement. Libra versus the world Libra has been actively trying to get approval from regulators around the world, and has pledged not to …

Germany’s government has approved a blockchain strategy that aims to prevent stablecoins from becoming alternative currencies and threatening state sovereignty. Reuters reported on Sept. 18 that Chancellor Angela Merkel’s cabinet passed the strategy earlier today, in an apparent bid to mitigate the risks posed by the forthcoming Libra cryptocurrency from social media giant Facebook. We will not leave currency issuance “to private companies” Reuters cites Finance Minister Olaf Scholz as saying that, while the government wishes to further strengthen Germany as a leading technology location and foster blockchain innovation, the state remains cautious about prospective digital currency issuance from the …

German Finance Minister Olaf Scholz stated that policymakers cannot accept parallel currencies such as Facebook's proposed Libra stablecoin. Prevent stablecoins from becoming alternative currencies As reported by Reuters, on Sept. 17, German Vice Chancellor and Finance Minister Olaf Scholz said during a panel discussion in Berlin that Facebook’s planned crypto coin Libra will be clearly rejected. He said: “We cannot accept a parallel currency. [...] You have to reject that clearly.” According to a document seen by Reuters, German regulators are working closely with their European and international allies to make sure stablecoins will not become alternatives to traditional currencies. …