By CCN Markets: A lot has already been said about Facebook’s Libra cryptocurrency and its ambition to disrupt the finance world. But what about the blockchain technology that powers it? Blockchain experts have poured over the technical documents and played with the Libra protocol testnet. Suffice to say, they’re not convinced about Libra’s claims. “A disaster in slow motion” Bitcoin developer Tamas Blummer offered the most damning assessment of the Libra protocol. He said Facebook is abusing its position to muscle into the blockchain world. “Trying to buy leadership in a cutting edge technology is very expensive and likely futile.
Dow Ignores Trump’s Threat to Slam China With Double Tariffs
By CCN Markets: The Dow Jones Industrial Average traded flat on Monday, despite ominous trade warnings from the White House over the weekend. In an interview with ABC News on Sunday night, Trump said he was ready to go all in on tariffs in a bid to twist China’s arm. The president threatened to double the value of Chinese goods subject to tariffs from $ 250 billion to over half-a-trillion. “We have … right now, we’re getting 25 percent on $ 250 billion. And in the end, we’re going to get probably 25 percent or so. And it could be even increased.