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Facebook finally unveils its cryptocurrency. What we know about Libra so far.
Facebook was careful to say that Libra is not maintained internally and is instead serviced by a non-profit collective of companies.
- Facebook has just announced its new cryptocurrency, Libra.
- Early investors include many of the world's leading companies, implying they will accept Libra as payment
- The announcement was met with a mixed response, but only time will tell how Libra will be received
In a much-anticipated announcement on Tuesday, Facebook introduced the world to its new cryptocurrency Libra which is slated for launch in 2020 and will allow the popular social media giant's 2.4 billion members (and anyone with a smartphone) to quickly and inexpensively send money to each other and transact with businesses that have a presence on the Libra blockchain.
Facebook's goal for the new stablecoin—which will be pegged to a basket of fiat currencies like the US Dollar and Euro—is to provide an accessible financial system to the world's 1.7 billion unbanked inhabitants. As both a "cryptocurrency and a global financial infrastructure," Facebook was careful to say that Libra is not maintained internally and is instead serviced by a non-profit collective of companies participating in the ecosystem.
Facebook opts for a centralized yet shared model
The UI of the Calibra Wallet.
Members of this collective, based in Switzerland and known as the Libra Association, must pay at least $10 million to join. They will then be responsible for validating Libra transactions, administering the fund which backs its value, and voting on how to allocate the association's capital towards socially conscious initiatives. Founding members so far include ride-sharing companies Uber and Lyft, as well as eBay, Spotify, PayPal, Visa, and Mastercard.
Their early investment implies that these businesses will accept Libra as payment once the cryptocurrency launches alongside its Calibra wallet, which was also part of Facebook's announcement. Participation by these companies suggests how users might obtain and eventually use Libra. While Facebook is capable of hosting air drops to spread the word and vision, Visa and Mastercard's collaboration with Libra indicates that the stable coin may be directly purchasable via credit card.
Will Libra be welcomed by the crypto community?
Facebook's announcement has already whipped up a storm in the space with many leaders in the crypto community voicing their opinions.
Justin Sun, the founder of Tron who recently paid $4.75 million to have lunch with Warren Buffet, thinks this will be a great thing for the space saying, "Facebook and Libra. I feel a huge FOMO and bull run for crypto is on its way."
However Jeremy Dahan, CEO of diamDEXX, a stablecoin backed by diamonds, is giving a more balanced view, stating:
"We're still waiting for more information, but this roll out will be met with mixed feelings from the crypto community at large. On the one hand, Facebook has billions of users who can, in a single day trigger a wider acceptance of cryptocurrencies. On the other, a project such as this by such a massive, centralized company is a far cry from the ideals upon which the crypto community is based. Privacy concerns come to the forefront for a stablecoin being offered by a company such as Facebook, who have had many issues in this area in the past."
Will Libra liberate or limit world finance?
Using Libra for payments will be easy, as it will be integrated directly with the Facebook Messenger application as well as WhatsApp, and probably with other Facebook properties as well (such as Instagram). However, it's not yet clear which countries will gain access to Libra first, especially with a regulatory backdrop for cryptocurrency that varies drastically between sovereign borders. Just hours after its announcement, US lawmakers were already asking Facebook to halt the rollout of Libra until they could hold hearings on the subject.
It's yet unclear whether Facebook will have the lobbying power to launch Libra according to its optimistic timeline, especially when many lawmakers are already seeking to limit the social media leader's reach. What is clear, however, is that Facebook is waving the checkered flag for blockchain and cryptocurrency's race to the mainstream consciousness.
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Innovation in manufacturing has crawled since the 1950s. That's about to speed up.
Health officials in China reported that a man was infected with bubonic plague, the infectious disease that caused the Black Death.
- The case was reported in the city of Bayannur, which has issued a level-three plague prevention warning.
- Modern antibiotics can effectively treat bubonic plague, which spreads mainly by fleas.
- Chinese health officials are also monitoring a newly discovered type of swine flu that has the potential to develop into a pandemic virus.
Bacteria under microscope
needpix.com<p>Today, bubonic plague can be treated effectively with antibiotics.</p><p style="margin-left: 20px;">"Unlike in the 14th century, we now have an understanding of how this disease is transmitted," Dr. Shanthi Kappagoda, an infectious disease physician at Stanford Health Care, told <a href="https://www.healthline.com/health-news/seriously-dont-worry-about-the-plague#Heres-how-the-plague-spreads" target="_blank">Healthline</a>. "We know how to prevent it — avoid handling sick or dead animals in areas where there is transmission. We are also able to treat patients who are infected with effective antibiotics, and can give antibiotics to people who may have been exposed to the bacteria [and] prevent them [from] getting sick."</p>
This plague patient is displaying a swollen, ruptured inguinal lymph node, or buboe.
Centers for Disease Control and Prevention<p>Still, hundreds of people develop bubonic plague every year. In the U.S., a handful of cases occur annually, particularly in New Mexico, Arizona and Colorado, <a href="https://www.cdc.gov/plague/faq/index.html" target="_blank">where habitats allow the bacteria to spread more easily among wild rodent populations</a>. But these cases are very rare, mainly because you need to be in close contact with rodents in order to get infected. And though plague can spread from human to human, this <a href="https://www.healthline.com/health-news/seriously-dont-worry-about-the-plague#Heres-how-the-plague-spreads" target="_blank">only occurs with pneumonic plague</a>, and transmission is also rare.</p>
A new swine flu in China<p>Last week, researchers in China also reported another public health concern: a new virus that has "all the essential hallmarks" of a pandemic virus.<br></p><p>In a paper published in the <a href="https://www.pnas.org/content/early/2020/06/23/1921186117" target="_blank">Proceedings of the National Academy of Sciences</a>, researchers say the virus was discovered in pigs in China, and it descended from the H1N1 virus, commonly called "swine flu." That virus was able to transmit from human to human, and it killed an estimated 151,700 to 575,400 people worldwide from 2009 to 2010, according to the Centers for Disease Control and Prevention.</p>There's no evidence showing that the new virus can spread from person to person. But the researchers did find that 10 percent of swine workers had been infected by the virus, called G4 reassortant EA H1N1. This level of infectivity raises concerns, because it "greatly enhances the opportunity for virus adaptation in humans and raises concerns for the possible generation of pandemic viruses," the researchers wrote.
SEAL training is the ultimate test of both mental and physical strength.
- The fact that U.S. Navy SEALs endure very rigorous training before entering the field is common knowledge, but just what happens at those facilities is less often discussed. In this video, former SEALs Brent Gleeson, David Goggins, and Eric Greitens (as well as authors Jesse Itzler and Jamie Wheal) talk about how the 18-month program is designed to build elite, disciplined operatives with immense mental toughness and resilience.
- Wheal dives into the cutting-edge technology and science that the navy uses to prepare these individuals. Itzler shares his experience meeting and briefly living with Goggins (who was also an Army Ranger) and the things he learned about pushing past perceived limits.
- Goggins dives into why you should leave your comfort zone, introduces the 40 percent rule, and explains why the biggest battle we all face is the one in our own minds. "Usually whatever's in front of you isn't as big as you make it out to be," says the SEAL turned motivational speaker. "We start to make these very small things enormous because we allow our minds to take control and go away from us. We have to regain control of our mind."
Is focusing solely on body mass index the best way for doctor to frame obesity?
- New guidelines published in the Canadian Medical Association Journal argue that obesity should be defined as a condition that involves high body mass index along with a corresponding physical or mental health condition.
- The guidelines note that classifying obesity by body mass index alone may lead to fat shaming or non-optimal treatments.
- The guidelines offer five steps for reframing the way doctors treat obesity.