This Week in Tech: Tough times for Libra

this week in tech cryptocurrency libra

It’s Friday – time to read about all the tech news you may have missed throughout the week. Here’s what we’ve been keeping an eye on:

Trouble for Libra

I wrote about the introduction of Libra back in June – Facebook’s planned cryptocurrency that has received it’s fair share of criticism. Well, it had a particularly tough week, with a string of negative headlines that could hinder Mark Zuckerberg’s fintech aspirations.

Bloomberg has reported that senators are cautioning Mastercard, Visa and Stripe about their involvement in the project, saying that it poses risks to global financial systems as well as the companies’ payments businesses (not great).

Then, The Telegraph reported that the Libra Association’s head of product quit a couple of months ago. This association is the neutral body that was created to develop and run Libra independently from Facebook. So again, not great.

And on Wednesday, it was announced that Zuckerberg would head back to DC later this month to testify at a House panel about his plans for Libra. It’ll be interesting to see what he has to say, and if he’s able to calm the nerves of skeptical lawmakers. A lot of people will be paying attention.

Twitter misuses info from two-factor authentication

On Tuesday, Twitter admitted to using phone numbers and email addresses it got from users when they were setting up two-factor authentication for their accounts to serve them with targeted ads. This is a bad look. Two-factor authentication is frequently encouraged by security experts because it makes it much more difficult to hack into an account. It’ll be unfortunate if this discourages people from leveraging it in the future.

Instagram introduces new tool to prevent phishing attacks

This one’s pretty cool. Instagram has added a new feature that aims to help users figure out if an email they received from the social network is legit or a phishing attempt. If you’re suspicious, you’ll be able to check out an “Emails from Instagram” option in the app’s security settings, which will list the real emails Instagram has sent over the last two weeks.

Introducing Uber Pet

This doesn’t really have anything to do with B2B, but I still think it’s worth a shout out. Uber is introducing Uber Pet in select cities next week, which will ensure that riders are matched with drivers who don’t mind carting around our four-legged family members.

How the richest Americans got their start

Not news, but figured I’d share this quick and interesting read from Forbes – how some of the wealthiest Americans, including tech giants like Bill Gates and Michael Dell, got their entrepreneurial start. 

Pro tip

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Dave Heffernan,
Account Director

Posted on October 11, 2019 in B2B Tech, Facebook, Instagram, Twitter

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