Facebook’s ‘GlobalCoin’ cryptocurrency to launch in 2020, report claims

Facebook plans to launch its cryptocurrency by the first quarter of next year, reports BBC News. The company is expected to reveal more details about the currency this summer, before testing begins later in 2019. The currency, which is being referred to internally as “GlobalCoin,” will reportedly be available in around a dozen countries at launch, where it’s expected to offer people affordable and secure payments without the need for a bank account.

The currency will need to overcome numerous technical and regulatory hurdles before it can be launched. According to BBC News, last month Facebook CEO Mark Zuckerberg met with the Bank of England’s governor Mark Carney to discuss the opportunities and risks of the planned digital currency. However, Facebook might have a harder job on its hands in India, which has taken a hostile attitude towards virtual currencies. India is reported to be a key focus for the new currency, where Facebook hopes it will allow Indian workers abroad to send money back home to their families using WhatsApp.

The company has been in talks with the US Treasury, as well as money transfer firms like Western Union, to discuss operational and regulatory issues relating to the cryptocurrency.

We first heard about Facebook’s cryptocurrency ambitions last May, when it was reported that David Marcus, who previously served on the board of directors for Coinbase and was president of PayPal between 2012 and 2014, was leading the company’s new blockchain division.

Reports suggest that the currency could be designed to be a “stablecoin,” with a value pegged to US currency in an attempt to minimize volatility. However, even without the volatility associated with most cryptocurrencies, Facebook will still have a lot of work to do to get its users to trust GlobalCoin after suffering years of scandals that have tarnished its public image.

[“source=theverge”]

2020 Vision: Applying Million-Dollar Business Insights To An Uncertain Future

“2020 Vision: Today’s Business Leaders on Tomorrow’s World” offers insight on planning for an uncertain business future with interviews from 20 leaders of global million-dollar and billion-dollar companies. Leaders from a variety of background and industries share their perspective in “2020 Vision” on the biggest threats and opportunities that will impact their businesses the next 5 years and beyond.

A lot of business magazines celebrate the past exploits of billionaire businessmen, like Mark Zuckerberg and Bill Gates.

The stories of how they acquired and built their businesses becomes the stuff of entrepreneurial legend. Yet, with all of this information, only a little information goes into how these leaders prepare for a complicated future.

This is where “2020 Vision: Today’s Business Leaders on Tomorrow’s World” comes in. “2020 Vision” brings together leaders from 20 international million- and billion-dollar companies and asks them: “How will you address the most complex challenges in your business’s future?

“2020 Vision” is a collection of 20 interviews with the top leaders of the world’s biggest companies, including Houghton Mifflin Harcourt, GE, Universal Music Group, WPP and Geely Holding Group. Combined, these five leaders alone represent companies with almost $200 billion in operating revenue.

These interviews focus on the successes and problems that these leaders currently experience or expect to experience in the foreseeable future.

In reading these interviews, readers will begin to recognize certain patterns. Technology, emerging markets and cost containment appear as persistent themes. These themes represent the biggest concerns and opportunities for all businesses in the future.

As an example, Linda Zecher, CEO of Houghton Mifflin Harcourt, discusses the cost-effective and disruptive impacts technology has on the global and U.S. markets. Technology, Zecher says, is meeting a growing consumer demand for digital command — which is occurring even at the pre-K level. But it is also placing a heavy burden on teachers who may not be used to the increased demand.

Such uneven adoption of technologies requires, Zecher notes, a slower, step-by-step approach.

In another industry, Sir Martin Sorrell of WPP, discusses why his advertising and marketing business is placing a large amount of its resources on analytics and data investment. As Sorrell himself, puts it: “Don Draper would hardly recognize much of what we do today … In the future, there will be more ‘maths-men’ and women than ‘Mad Men’ in our industry.”

Those two examples reflect what readers can expect throughout the book: problem analysis, strategy and reflection. Readers will be able to see how these leaders predict and deal with the opportunities and challenges that the future brings.

The best part of “2020 Vision” is the view it provides of a leading business executive’s strategy from their own perspective. Although the book is written mostly from a third-person perspective, it details the approach and personal insights of the person being interviewed.

In addition to that, the book’s focus on many industries gives a wider, overall perspective about the general nature of change in business. Readers are able to see the issues from a much broader perspective than a typical book on future business trends.

Although the book provides excellent insight from leaders working in the field (as opposed to experts talking about the field), the book lacks direct takeaways. Such takeaways would certainly be of benefit to readers who become inspired by or interested in one or more of the strategies listed in the book.

For example, if an education tech startup wanted to capitalize on the growing market in Africa, where should they begin? “2020 Vision” gives some info, but not enough upon which to take action.

Author Tim Burt (@timjburt) is currently managing partner of a communications firm and former editor of The Financial Times. And the ideal reader for “2020 Vision” would probably come from the same audience as the author’s former publication. The book works from the assumption that the reader is knowledgeable about international business, emerging markets and technology.

“2020 Vision” covers a wide variety of industries operating in various countries with very expensive operating budgets. So, while it might not at first appear to be a book for small business owners, look deeper. “2020 Vision” offers any entrepreneur or small business owner the opportunity to reflect on how they will plan for the future. It also offers greater insight into what their businesses could look like one day.

[“source-smallbiztrends”]

2020 Vision: Applying Million-Dollar Business Insights To An Uncertain Future

2020vision

A lot of business magazines celebrate the past exploits of billionaire businessmen, like Mark Zuckerberg and Bill Gates.

The stories of how they acquired and built their businesses becomes the stuff of entrepreneurial legend. Yet, with all of this information, only a little information goes into how these leaders prepare for a complicated future.

This is where “2020 Vision: Today’s Business Leaders on Tomorrow’s World” comes in. “2020 Vision” brings together leaders from 20 international million- and billion-dollar companies and asks them: “How will you address the most complex challenges in your business’s future?

“2020 Vision” is a collection of 20 interviews with the top leaders of the world’s biggest companies, including Houghton Mifflin Harcourt, GE, Universal Music Group, WPP and Geely Holding Group. Combined, these five leaders alone represent companies with almost $200 billion in operating revenue.

These interviews focus on the successes and problems that these leaders currently experience or expect to experience in the foreseeable future.

In reading these interviews, readers will begin to recognize certain patterns. Technology, emerging markets and cost containment appear as persistent themes. These themes represent the biggest concerns and opportunities for all businesses in the future.

As an example, Linda Zecher, CEO of Houghton Mifflin Harcourt, discusses the cost-effective and disruptive impacts technology has on the global and U.S. markets. Technology, Zecher says, is meeting a growing consumer demand for digital command — which is occurring even at the pre-K level. But it is also placing a heavy burden on teachers who may not be used to the increased demand.

Such uneven adoption of technologies requires, Zecher notes, a slower, step-by-step approach.

In another industry, Sir Martin Sorrell of WPP, discusses why his advertising and marketing business is placing a large amount of its resources on analytics and data investment. As Sorrell himself, puts it: “Don Draper would hardly recognize much of what we do today … In the future, there will be more ‘maths-men’ and women than ‘Mad Men’ in our industry.”

Those two examples reflect what readers can expect throughout the book: problem analysis, strategy and reflection. Readers will be able to see how these leaders predict and deal with the opportunities and challenges that the future brings.

The best part of “2020 Vision” is the view it provides of a leading business executive’s strategy from their own perspective. Although the book is written mostly from a third-person perspective, it details the approach and personal insights of the person being interviewed.

In addition to that, the book’s focus on many industries gives a wider, overall perspective about the general nature of change in business. Readers are able to see the issues from a much broader perspective than a typical book on future business trends.

Although the book provides excellent insight from leaders working in the field (as opposed to experts talking about the field), the book lacks direct takeaways. Such takeaways would certainly be of benefit to readers who become inspired by or interested in one or more of the strategies listed in the book.

For example, if an education tech startup wanted to capitalize on the growing market in Africa, where should they begin? “2020 Vision” gives some info, but not enough upon which to take action.

Author Tim Burt (@timjburt) is currently managing partner of a communications firm and former editor of The Financial Times. And the ideal reader for “2020 Vision” would probably come from the same audience as the author’s former publication. The book works from the assumption that the reader is knowledgeable about international business, emerging markets and technology.

“2020 Vision” covers a wide variety of industries operating in various countries with very expensive operating budgets. So, while it might not at first appear to be a book for small business owners, look deeper. “2020 Vision” offers any entrepreneur or small business owner the opportunity to reflect on how they will plan for the future. It also offers greater insight into what their businesses could look like one day.

[“source-smallbiztrends”]

Indian Digital Payments Market to Reach $500 Billion by 2020: Google

Indian Digital Payments Market to Reach $500 Billion by 2020: Google

Digital payments market size in the country is expected to touch $500 billion (roughly Rs. 33,63,762 crores) by 2020, accounting for about 15 percent of gross domestic product (GDP), a report said on Monday.

The ‘Digital Payments 2020’ report, jointly published byGoogle and Boston Consulting Group, projects that non-cash contribution in the consumer payments segment will double to 40 percent.

“The smartphone explosion will usher in a new era in digital payments in India over the next few years that will see digital payments exceed $500 billion by 2020 and non-cash transactions exceed cash transactions by 2023,” said Alpesh Shah, Senior Partner and MD, Boston Consulting Group.

He also said contribution of digital payments would be 15 percent to the country’s GDP.

The report notes that 81 percent of existing digital payment users prefer it to any other non-cash payment methods. “It is telling that half of India’s Internet users will use digital payments and that the top 100 million users will drive 70 percent of the gross merchandise value,” Rajan Anandan, VP South East Asia and India, Google, said.

Online shopping, payment of utility bills and buying movie tickets have emerged as the top three user activities.

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The report also said 90 percent of Indian consumers are likely to use digital payments for both online and offline points of sale such as unorganised retail, eateries and transport.

Micro-transactions will form a substantial portion of the industry with over 50 percent of person-to-merchant transactions expected to be under Rs. 100, the report added.

The value of remittances and money transfer that will pass through alternative digital payment instruments will double to 30 percent by 2020, it said.

Tags: Apps, Digital Payments, Google, India, Internet, Online Payments, Virtual Currency

 

[“Source-Gadgets”]