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Facebook's Libra is causing concerns for US central bank, report says

by Skye Batey (2019-08-21)


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He and Shawn Layden, who heads Sony's 13 development studios making games like the highly anticipated survival adventure game The Last of Us Part 2, will be helping launch the company's next-generation PlayStation with a slate of new games and features to compete against Microsoft's next Xbox, Nintendo's Switch, Google's Stadia streaming service and more.

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Omar Marques/Getty Images The US Federal Reserve System has added its voice to the chorus of doubts raised by lawmakers, politicians and others worldwide about Facebook's newly announced cryptocurrency, Libra. While speaking to House lawmakers Wednesday, Federal Reserve Chairman Jerome Powell said the US central bank has "serious concerns" about Libra, The Wall Street Journal reported.

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The company does loose some points for its hefty price increase after the first year for most plans, although we do commend 1&1 for making that price increase clear, visible, and easy to understand on their site.

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The Libra blockchain will be global, but it'll be up to the Calibra providers to determine where they'll operate the wallet service. It also won't be available in any US-sanctioned countries, or countries that ban cryptocurrencies.

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Among them, Ryan said his company plans to offer "cross-generational play," effectively offering players the ability to play a game on their PS4, switch to a new console and continue, and then switch back. Effectively, it won't matter to Sony's servers which device they're playing on. As a result, they'll have all the same friends while they do that.

Now playing: Watch this: PlayStation State of Play event reveals new console and... 1:57 Ryan is a 25-year Sony veteran. He began his career at the company's European division in 1994 -- right as the original PlayStation was launching -- and in 2011 was appointed the president of Sony's PlayStation business across Europe, the Middle East, Africa and Oceania. He was made the deputy president of Sony's PlayStation business last year before being promoted to CEO in February.

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