Facebook's Zuckerberg boiled in front Congress on Libra, privacy, election



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Facebook's Zuckerberg boiled in front Congress on Libra, privacy, election

On Wednesday, the 23rd of October 2019, Zuckerberg, CEO of the Menlo Park, CA-based social networking titan, Facebook Inc., was grilled in a US Congress hearing over Facebook’s Geneva-based digital currency project, Libra, privacy concerns alongside 2020 US Presidential election, while the Facebook CEO was almost forced to concede that the company’s slated plan to launch a digital currency called Libra, was a risky project, however, Zuckerberg looked to reassure US lawmakers that a ratification of Libra could reduce the cost of electronic payments and could reach global financial system to more people across the globe.

Dressed up with a suit and a tie, Zuckerberg on Wednesday (October 23rd) had fended off a flurry of aggressive questions from members of the US House of Representatives Financial Services Committee regarding election interference, hate groups, free speech alongside fake news, while the panel’s democratic Chair, Maxine Waters, had questioned Zuckerberg on Facebook’s plans to counter misinformation alongside voter suppression ahead of a 2020 US Presidential election, but concluded with the decision that Facebook should consider a postponement of its Geneva-based digital currency project Libra until other critical issues were properly addressed.

Aside from that, Maxine Waters had also suggested that US policymakers should consider breaking up of Facebook Inc, as Walter said to Zuckerberg during Wednesday’s (October 23rd) hearing of US House Panel of Financial Services Committee, “It would be beneficial for all if Facebook concentrates on addressing its many existing deficiencies and failures before proceeding any further on the Libra project. ”