News Mark Zuckerberg Explains How Libra Would Increase Ad Revenue to Facebook

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The CEO of the social media giant, Facebook, Mark Zuckerberg, in a shareholder meeting explained how Libra crypto project would bring more ad revenue to their company. When asked about how Libra would help Facebook make more revenue in the shareholder meeting, Zuckerberg responded by going into Libra’s potential impact on e-commerce on the social media company, and its potential impact on advertising revenue. Facebook’s CEO Mark Zuckerberg said that Facebook does not charge a set price for ads and instead works with a bidding system, where every business trying to advertise will bid to compete for ad space. According to Zuckerberg, the system allows them to get the “lowest possible price.” The advertising on Facebook becomes more worthwhile for businesses, which could see them bid higher on ads and increase overall ad prices. This would effectively boost Facebook’s 0s advertising revenue.

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Telegram CEO Pavel Durov has donated 10 BTC to volunteer organization “The Mutual Help” (Vzaimipomosch) whose members buy food and deliver it to people who can’t afford it, according to Egor Zhukov, a political activist who organized this crowdfunding campaign. Pavel Durov reached out by himself and offered to help the cause. The donation made by Pavel Durov is quite large as 10 BTC at the moment equals 66,89,982 Russian rubles. This amount of money can buy an apartment in Moscow. Vzaimipomosch’s bitcoin wallet saw some 14 BTC in donations since March. Telegram’s blockchain project, TON, was shut down earlier this month after a prolonged legal fight with the U.S. Securities and Exchange Commission, which alleged Telegram’s multi-billion dollar ICO was an unregistered securities offering.

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The Australian public research university RMIT has partnered with IBM, Palo Alto Networks, and Stone & Chalk to offer a graduate certificate in cybersecurity and graduate certificate in blockchain-enabled business. The programs are expected to start in October this year and will last for nine months. The public research university introduced these new programs to meet the rising demand for industry professionals in the cybersecurity and blockchain industry. The blockchain industry in Australia is projected to show annual growth of 80%. The growth in the cybersecurity industry will create demand for 18,000 professionals in the country. RMIT Online CEO said that the current environment’s unpredictable nature requires them to strengthen and accelerate their understanding of the digital landscape.The head of the blockchain for IBM Australia and New Zealand, Rupert Colchester, noted that graduates of the blockchain program would be able to help companies apply the technology to their operations.

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Ethereum co-founder Vitalik Buterin explained in a series of tweets how the current financial crisis is very different from the 2008 Global Financial Crisis that gave birth to cryptocurrency bitcoin. Buterin said that 2020 is not a repeat of the financial crisis of 2008, but it is a “virus crisis,” a crisis of “epistemology” and one of “overbearing policing.” Buterin added another narrative that cryptocurrencies are uncorrelated to traditional assets, which have not been discussed so far. As proof, he showed a chart of the downturn in the S&P 500 in March, at the same time, the value of Bitcoin and other cryptocurrencies dropped more than 50%. Vitalik Buterin tweeted commenting on Binance CEO’s comment about bitcoin is the peaceful protest that this is exactly what we should be expanding beyond right now. Reforming money is not sufficient, he added. Earlier, the CEO of one of the leading crypto exchanges in the world Binance, had put out a tweet saying that bitcoin is the peaceful protest. The tweet was in reference to the current protest going all over the United States over the murder of George Floyd by the hands of police officers in Minneapolis. The current protests in the US are against ongoing police brutality and racial injustice against the African-American community.

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Chinese police have discovered an illegal Bitcoin mining operation that was being run in two burial mounds in the surrounding fields of Daqing city, Heilongjiang province. The officers found an entrance in the vicinity of the mounds, and after some digging, the police discovered Bitcoin mining hardware that was running on stolen electricity. The police investigated the area after a local oil firm told law enforcement about unexplained power losses. Most of the world’s crypto mining happens in remote areas in China where electricity is cheaply available, and natural conditions favor the mining activities. Earlier this week, the local media reported that law enforcement found 54 Bitcoin mining rigs under a dog kennel in the same county in Heilongjiang province earlier the same week.

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