Calibra Wallet Won't Launch in India, Facebook's Biggest Market (techcrunch.com) 48
An anonymous reader shares a report: Facebook unveiled its audacious Libra cryptocurrency and Calibra digital wallet on Tuesday through which it plans to transform financial services across the globe. The social juggernaut made clear of its ambitions when it said that it wishes to empower more than 1.7 billion people around the world who currently do not have a bank account. But potentially an equally large group of people would not be able to use Facebook's new digital payments service when it begins rollout next year.
Responding to queries from TechCrunch, a Calibra spokesperson said that the digital wallet will not be rolling out to a number of markets that have taken a stand against cryptocurrency, or are sanctioned by the United States. "The Libra Blockchain will be global, but it will be up to custodial wallet providers to determine where they will and will not operate. Calibra won't be available in US-sanctioned countries or countries that ban cryptocurrencies," the spokesperson told TechCrunch. TechCrunch understands that India, Facebook's biggest market, is among the list of countries where Calibra does not intend to launch. Additionally, Calibra isn't going to be available in China, North Korea, and Iran, too, where Facebook does not currently have a presence. Further reading: Proposed Law in India Would Imprison Anyone Who Uses Cryptocurrency.
Responding to queries from TechCrunch, a Calibra spokesperson said that the digital wallet will not be rolling out to a number of markets that have taken a stand against cryptocurrency, or are sanctioned by the United States. "The Libra Blockchain will be global, but it will be up to custodial wallet providers to determine where they will and will not operate. Calibra won't be available in US-sanctioned countries or countries that ban cryptocurrencies," the spokesperson told TechCrunch. TechCrunch understands that India, Facebook's biggest market, is among the list of countries where Calibra does not intend to launch. Additionally, Calibra isn't going to be available in China, North Korea, and Iran, too, where Facebook does not currently have a presence. Further reading: Proposed Law in India Would Imprison Anyone Who Uses Cryptocurrency.
All you have to do is google to know things. (Score:2, Informative)
Sanctioned means both approved/authorized and officially scrutinized/punished. Both are valid.
sanction /saNG(k)SH()n/
verb
past tense: sanctioned; past participle: sanctioned
1.
give official permission or approval for (an action).
"only two treatments have been sanctioned by the Food and Drug Administration"
synonyms: authorize, consent to, permit, allow, give leave for, give permission for, wa
Re: (Score:2)
From Infinity War in the comics before half of you were born...
Captain America: (Aside, to Hulk and Wolverine, re: Thanos) You two aren't as squeamish as the others. If you get the chance, I want you to...
Wolverine: ...sanction him.
Re:Not the safest bet it the world (Score:5, Funny)
How long until Cambridge Analytica (well, it's festering spinoffs anyway) owns your wallet and passes your worldly wealth?
They'll have to get it away from my wife first.
Re: (Score:3)
They'll have to get it away from my wife first.
This is /. nobody is married remember?
Re: (Score:2)
That's the best you've got? I'm getting disappointed. You must be one of those female incels from Hong Kong everyone is talking about, that expects men to line up to date them. I could see why you think everyone is a faggot.
Re: (Score:1)
It's sad what some people have reduced their understanding of the company of women into.
Rut and thrust, dood. I guess.
Re: (Score:1)
Good Start (Score:3)
Now stay out of North America!
In Soviet Russia... (Score:2)
Available globally (Score:1)
Some countries are more global than others.
ALL CRYPTOCURRENCIES ARE SCAM!!! (Score:1)
IMHO, all cryptocurrencies are just a new kind of scam, similar to Ponzi Scheme!!!
Isn't printing & issuing your own currency and/or stocks illegal & for really good reasons???
But isn't that what exactly cryptocurrencies really are doing???
Why do you think "Satoshi" took first 1 MILLION BITCOINS for himself & disappeared into hiding???
(Instead of proudly coming-out, if Bitcoin is really a great financial innovation!!!)
Maybe to make sure law enforcement cannot catch him, if/when BITCOIN SCAM fails
Re: ALL CRYPTOCURRENCIES ARE SCAM!!! (Score:2)
Printing and issuing your own currency has an illustrious and completely legal history in the United States.
https://www.quora.com/Is-it-le... [quora.com]
Priorities (Score:2)
Let's get toilets sorted first, mmmkay?
Re: (Score:2)
Good point! That should keep them out of San Francisco as well.
Re: (Score:2)
Let's get toilets sorted first, mmmkay?
Actually, they are working on it:
https://www.bbc.com/news/world... [bbc.com]
Note that this is from the BBC, and written in the Queen's Received English, so you will have to adjust your browser settings to read it correctly.
Some politics... (Score:2)
will not be rolling out to a number of markets that have taken a stand against cryptocurrency, or are sanctioned by the United States.
would not be applicable to us, the good news is regardless of the medium, that is cryptocurrency or not being used, money transfer services are subject to banking regulations, thus Facebook needs to get approval for such services (basically they need to obtain a banking licence or buy a bank, which is also subject to
this is news? (Score:2)
it would be news if they would have released the Libra despite there being laws or sanctions in those countries.
Now ofcourse, this somehow takes the cover of the marketing pitch about 'empowering all the people in the world without access to a bank'.
Re: (Score:2)
They bought Time Warner they were so big, then a few years later hid AOL from the name because it was no longer an attraction to stock buyers.
You're blocked from sending/receiving funds (Score:1)
Sure, people should start using payment services of a company, that arbitrarily blocks people from using their services, such as messenger, if one accidentally offends someone from a privileged group.
Re: (Score:2)
That's the model in China, with the privledged group you shan't offend being the dictatorship and his elite buddies.
Which is ironic given communist theory decried the elites granting the bourgeoisie (the middle class) some of the trappings of wealth like loans and checking accounts, yet here they are, with your computerized good little citizen rating and denying those things and bus rides.
They're building it for the Venezuelan dictatorship, like the Nazis piloted the blitzkrieg on Guernica.
re (Score:1)