Facebook’s Cryptocurrency To Bring Online Payments To Everyone
Facebook has teamed up with the likes of PayPal, Uber, Spotify, Visa and Mastercard in an effort to extend financial services for users, launching its own cryptocurrency.
Creating a cryptocurrency has become somewhat of a fun gimmick in recent times, look no further than former basketballer turned international diplomat Dennis Rodman’s ‘PotCoin’ or the Kanye West inspired ‘Coinye’.
But Facebook’s cryptocurrency, named ‘Libra’, is far more serious.
“For many people around the world, even basic financial services are still out of reach: almost half of the adults in the world don’t have an active bank account and those numbers are worse in developing countries and even worse for women,” said Facebook in a statement.
Users will be able to send and spend Libra through new digital wallet ‘Calibra’.
Like all cryptocurrencies, the coin will use blockchain technology to allow users to securely transfer funds.
“Calibra will let you send Libra to almost anyone with a smartphone, as easily and instantly as you might send a text message and at low to no cost,” Facebook said.
“And, in time, we hope to offer additional services for people and businesses, like paying bills with the push of a button, buying a cup of coffee with the scan of a code or riding your local public transit without needing to carry cash or a metro pass.”
Calibra will exist as a Facebook subsidiary while also becoming one of the 100 founding members of the Libra network – each of which will invest at least $US10 million.
The Libra network will not be run directly by Facebook, rather as a non-profit organisation supported by a range of companies.
Latest News
Spotify Wrapped 2020: Bad Bunny Tops Most Streamed Artist
Bad Bunny tops Spotify's most-streamed list for 2020. Which certainly begs the question - who the hell's Bad Bunny?
Wild Turkey And Matthew McConaughey Recognise Aussie Local Legends
Wild Turkey and Creative Director Matthew McConaughey, in partnership with Eleven, unveil a new Wild Turkey With Thanks initiative. The integrated campaign is shining a light on Australian Local Legends who have stood with conviction supporting their environment and communities throughout the crises of 2020. Wild Turkey’s With Thanks is a global, annual platform, wherein […]
ABC Responds To Oz Allegations Over Four Corners: “We Don’t Use Private Investigators”
ABC's Four Corners saga looked all set for a rather juicy twist. However, someone's de-juiced it by denying it all.
AIA Australia Partners With Yet Another AFL Team
AIA Australia has announced that it is now the official life, health and wellbeing partner to the AFL’s St Kilda Football Club. According to the company, the new partnership will provide club members with learnings, tools, and strategies that they can use to lead healthier lifestyles. Members will at the same time receive access to […]
These Are The Most Engaging Christmas Ads Of 2020
Did your Christmas ad not make this year's top 10? Ready your flimsy excuses for when the client calls with this.
“Ageism Is Alive & Well” Why Ad Veteran Steve Allen’s Appointment Is Proving Such A Big Deal
We won't tolerate ageism in any shape or form here at B&T. But if our editor plays Neil Diamond one more bloody time!
Apple Ads Spark $16M Lawsuit
Apple has been fined $16 million for misleading ads. Tim Cook pays it with loose change from behind the couch.
Seven Heaps More Pressure On Cricket Australia As It Threatens To Sue For “Millions”
Advertise on Seven? Looking forward to your annual knees-up in its corporate box at the cricket? Shelve those plans.
AppsVillage Partners With TikTok To Allow SMBs To Advertise To TikTok’s Aussie Users
Small to medium sized businesses will now be able to advertise on TikTok through SaaS solutions provider AppsVillage (ASX:APV). APV will allow SMBs to create and manage campaigns on TikTok in under three minutes using its AI software and advertising management platform JARVIS. The partnership makes the most of TikTok’s self-service advertising offering which launched […]
“Jules & Vincent Are Back!” John Travolta & Samuel L Jackson Reprise ‘Pulp Fiction’ In Oddball Christmas Ad
Bank ad reprises classic 'Pulp Fiction' moments. Mercifully sans the Gimp or that scene with the samurai sword.
How People-Based Identity Will Change The Way Marketers Think About Success
Work in marketing? Is your measure of success keeping your gout under control? Think again with this informative read.
DDB Sydney Grows Creative Team By Six
DDB Sydney announce six new recruits and, sad as it is to report, not a hula hooper or sword swallower amongst them.
Guide Dogs Australia Launches ‘An Experiment In Trust’ Via Thinkerbell
Not that it's explicit on the brief, but if there's ever a pitch where you play it straighty one-eighty it's Guide Dogs.
“This Is A Match Made In Heaven”: Salesforce Acquires Slack For $37.6 Billion
Did your careers adviser suggest tech but you stubbornly chose advertising? Realise the folly of your ways on this news.
Study: Wine Now Aussies’ Favourite Tipple, As We’re Downing 100 Million Alcoholic Bevvies A Week
Here's the latest stats into Australia's drinking habits. B&T staff apparently receiving "high achieving" status.
Verizon Media Sets Out ‘Advertising For Good’ Agenda At 2021 Showcase
B&T was a lucky attendee at the Verizon upfronts last night. Unfortunately, not taking home the garden gnome door prize.
New Campaign Urges Aussie Ad Creatives To Get Real About Gender Equality Messages
Feel terrible your ads aren't inclusive, gender neutral & diverse enough? Feel the screws tighten a little more here.
Psembi Kinstan Joins McCann Melbourne As Executive Creative Director
Highly-awarded Psembi Kinstan joins McCann Melbourne. Thought better of bringing his medals & certificates on first day.
MediaSmiths Appoints Jack Geraghty As Senior Account Planner
MediaSmiths appoints Jack Geraghty as senior account planner. Excellently, deploys wind machine for press photo.
DOUBLESTAR CO Turns Technology Stunning With New Brand Livery For Australia’s Own Advanced Navigation
To keep pace with their transformative technology, Advanced Navigation turned to DOUBLESTAR CO for art direction, 3D modelling and design help that would capture the value proposition and offering of Advanced Navigation: AIR, LAND, SEA & SUB-SEA for their upcoming campaign “Accurate positioning in the most demanding conditions”. Advanced Navigation’s Head of Marketing Romain Pare […]
Nine Announces First Hires For Powered Enterprise
B&T would love to report that Spock, Scotty & Leonard McCoy had been hired for Nine's Enterprise but, alas, not to be.
Tom Pitney Promoted To Strategy Director At Junkee Studio
Junkee Studio, oOh!media’s creative and social agency division, is capitalising on another successful year by announcing the promotion of Tom Pitney to Strategy Director. Pitney will now drive the direction of Junkee’s in-house creative and strategy team, which produces bespoke content solutions for brands to help them tell and share their stories across their owned […]
SMI Data: Footy Grand Finals See Ad Spends Soar For October, As COVID Fears Subside
Finally, it's some good news relating to ad spends! Sadly, it's still all bad news when it comes to China hating on us.
Norwegian Cruise Line Revives Queen’s ‘I Want To Break Free’ In New Global Campaign
Has the thought of chronic dysentery put you off a cruise holiday? Mercifully, COVID's arrived to end those concerns.
Cricket Australia Boss Slams Seven For Talking “Our Wonderful Game Down”
Cricket Australia’s (CA) interim CEO Nick Hockley (main photo) has slammed broadcaster Seven for talking “our wonderful game down”. In a blistering attack on its broadcast partner, Cricket Australia lashed Seven for its ongoing legal stoush as it attempted to exit its four-year deal with the sport. As reported on B&T today, Seven West Media […]
TAC’s Christmas Campaign Via TABOO Urges Victorians To ‘Spend It Wisely’
Road safety meets a time-honoured Christmas tradition with the launch today of the Transport Accident Commission’s ‘Spend it Wisely’ advent calendar initiative, developed in close partnership with Melbourne-based creative agency TABOO. The digital advent calendar provides 25 days of road safety tips, plus offers and discounts to businesses throughout the holiday season, to help Victorians […]
PepsiCo ANZ Appoints New CMO For Snacks & Beverages
PepsiCo Australia and New Zealand has announced the appointment of Vandita Pandey to the newly created role of Chief Marketing Officer for both snacks and beverages. Pandey comes from Frito-Lay (a PepsiCo company) in the United States where she has spent the last 11 years in roles that span across marketing, corporate strategy, insights and […]
Aussie Music Stars Front New Digital Campaign For Destination NSW
Destination NSW unveils latest campaign. Wisely tells visitors to give Dapto and Albury–Wodonga a huge miss.
Why DDB Sydney Is Supporting Advertising Equality Initiative ‘ShEqual’
Struggle to keep up with the latest industry initiatives? Struggle no more with this in-depth synopsis.
Minister Asks ABC Chair To Explain Public Interest Of ‘Inside The Canberra Bubble’ Four Corners Episode
Thought the kerfuffle over Liberal MPs bonking their staff had gone away? The gasoline is only now hitting the match.
