A major part of the population. And sticking with facebook and labor for many here in the liberal white paper there were references to their blog chain promoting what theyre calling an open identity standard essentially the idea behind indemnity in this regard is making a way for users to be able to have a fully verifiable digital version of identification that would work throughout the internet sort of walk us through how this technology would work and the specific benefits of this kind of identity. One of the key problems with this emergence and as we go over to doing more and more online and having more of our lives online has been this. Disconnect essentially between our physical lives our physical identity and being able to prove you know flawlessly that this is the same individual and in all. Line capacity and this just hasnt been done to an adequate way and so this is a you know a very exciting part of what facebook is trying to do and were very big fans of open identity systems
Facebook has announced plans for a new Digital Currency, called libra. David marcus testified for the House Financial Services committee. The committee will come to order. The chair is often recess of the committee at any time. This is entitled based proposed crypto currency an impact on consumers, investors, and the American Financial system. I will now give an Opening Statement for five minutes. Today we are here for a hearing on its books proposed Digital Currency, libra, and digital wallet, and the impact on consumers, investors, and the Financial System. David marcus, following his testimony, a panel of experts will share their views on this book plans, is there are serious concerns about the creation of a Digital Currency and digital wallet to expand its reach, like mastercard, paypal, visa, uber reggie lyft rideshare, and specify. Is trying to create a new global fund to rival the us dollar this venture is slated to be based in switzerland, which has a history of creating a have
Good morning ladies is ultimate. Welcome to the Carnegie Endowment. My name is george and i am a Vice President for studies here at the endowment. Its my pleasure to welcome you this morning for a discussion with pakistans relatively new ambassador to the United States , asad majeed khan. While he arrived in his ambassador position in january, he has long and deep experience both in washington, working on u. S. Issues back in the ministry and most recently was serving as ambassador to japan. Before coming here. He has an outstanding sense of not only dynamics with the u. S. , but globally and him particular asian security. We are honored to have you with us. What we will do, i will ask a few questions to get the discussion started. And then we will turn it into a larger discussion. I have invited the ambassador if at any time he wants to ask you all a question or me a question, about what is going on in this very predictable rational environment in which we live in in washington, we ar
Investors, and the American Financial system. I will now give an Opening Statement for five minutes. Today we are here for a hearing on its books proposed Digital Currency, libra, and digital wallet, and the impact on consumers, investors, and the Financial System. David marcus, following his testimony, a panel of experts will share their views on this book plans, is there are serious concerns about the creation of a Digital Currency and digital wallet to expand its reach, like mastercard, paypal, visa, uber reggie lyft rideshare, and specify. Is trying to create a new global fund to rival the us dollar this venture is slated to be based in switzerland, which has a history of creating a haven for criminals and shady corporations. This plan includes serious privacy training, and monitoring of policy concerns. With 2 billion users, will have immediate access to these products, but also from consumers, festers, and the global economy. In addition, facebook has proposed government guarante
Absolutely and thats a great question and one of the Key Properties of block change is the ability to move funds anywhere around the world any time without an intermediary without a bank and around the world theres 1700000000 banks individuals around the world and so with the ability to use blog chain youre actually able to help bank and provide Banking Services to these individuals for savings spending bore away and insurance and facebook came out and said libra is going to help to bank the unbanked in under banks populations and this just doesnt seem to be the case if you need a bank account you need an identity i mean this is cutting you know one in 3 adults all around the world and this is one of the problems related to also the k y c n. N. Which you know make facebook have this as a requirement and as of now that just seems to be creating issues and leaving a major part of the population. And sticking with facebook and labor for a minute here in the labor white paper there were re