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Facebook Seems to Be Pushing Ahead With Blockchain

Facebook executive David Marcus resigned from Coinbase Inc.’s board, a sign the social network giant is pushing ahead with its own blockchain work. Marcus quit Friday, citing a new group he oversees at Facebook that is exploring potential blockchain uses.

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Facebook Denies Seeking Users’ Bank Data

Facebook has been getting cozy with your banks, but that might not be as alarming as it sounds. On Monday, the Wall Street Journal reported that Facebook has been courting banks to enter into data-sharing agreements.

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Banks Won’t ‘Like’ This Offer From Facebook

With apologies to the Godfather, Facebook is making an offer that’s easy for banks to refuse.

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Facebook Wants Financial Data From America’s Largest Banks

Facebook is asking large banks in the US to share their customers’ card transactions, shopping habits, and checking account balances to offer new financial services, as reported by The Wall Street Journal. In an emailed response to the report, Facebook denies that it’s actively asking financial services companies for financial transaction data.

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Are Apple, Amazon and Facebook the Future of Banking?

Watch out, big banks. Silicon Valley is targeting finance as the next industry ripe for disruption. In the not-too-distant-future, Amazon (AMZN) could let customers zap each other cash with Alexa, and then deposit the money in an Amazon-branded checking account.

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Facebook Plans to Create Its Own Cryptocurrency

Facebook is exploring the creation of its own cryptocurrency, a virtual token that would allow its billions of users around the world to make electronic payments, people familiar with Facebooks plans told Cheddar.They are very serious about it, said one of the people, who asked not to be identified discussing unannounced plans.

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What’s the Deal With Facebook and the Blockchain?

David Marcus, formerly head of Facebook’s Messenger app, will now lead a team of fewer than a dozen people dedicated to blockchain technology, according to Recode. He’ll be joined by notable executives including Kevin Weil, former VP of product at Instagram, and James Everingham, VP of engineering at Instagram.

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Cryptocurrency and Blockchain Technology Could Help Facebook Recover From Massive Data Scandal

Mark Zuckerberg, chief executive officer and founder of Facebook Inc., speaks during a House Energy and Commerce Committee hearing in Washington, D.C., U.S., on Wednesday, April 11, 2018. Zuckerberg, under stern questioning by U.S.

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Facebook Is Set to Introduce Payments Service Feature in India

Facebook is reportedly testing a new payment service in India, and is currently hiring people to set up the service in the country. To recall, Facebook-owned WhatsApp messenger also introduced payment feature in its app recently.

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Aussie Consumer Groups Cite Facebook-Cambridge Analytica Type Data Dangers for Consumers in Move to Open Banking

The adoption of Open Banking must include consumer rights to data deletion and should exclude aggregated data sets from its scope, Australian consumer groups say. These points are made in a joint submission by the Financial Rights Legal Centre and Consumer Action Legal Centre to Australia’s Treasury.

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