Slashdot: Facebook's David Marcus, Creator of Embattled Diem Project, To Leave Company

Facebook's David Marcus, Creator of Embattled Diem Project, To Leave Company
Published on November 30, 2021 at 11:23PM
David Marcus, one of the top executives at Meta Platforms and the co-creator of the yet-to-be-launched Diem digital currency, is leaving the company after seven years to pursue other projects. From a report: Marcus, who joined the Facebook parent company in 2014 from PayPal Holdings, ran the Messenger service for years before moving over to form the company's blockchain division in 2018. He spent the last few years building Novi, the company's digital wallet that launched in October, and co-founded Diem, a digital currency formerly known as Libra that was intended as a way for people to send money cross-border. Getting Diem off the ground has proven to be a struggle for Meta and Marcus. Since the project was unveiled in 2019 -- with great fanfare and dozens of partners -- the currency's debut has been delayed and its original ambitions have been scaled back. Diem faced pushback from lawmakers and regulators when it was announced, and while Meta is still a partner on the effort, Diem is now run independently. Marcus's departure adds more uncertainty to Meta's digital payment push, but the longtime entrepreneur and angel investor says he has an itch to create something outside the company.

Comments

Slashdot: AT&T Says Leaked Data of 70 Million People Is Not From Its Systems

AT&T Says Leaked Data of 70 Million People Is Not From Its Systems Published on March 20, 2024 at 02:15AM An anonymous reader quotes a report from BleepingComputer: AT&T says a massive trove of data impacting 71 million people did not originate from its systems after a hacker leaked it on a cybercrime forum and claimed it was stolen in a 2021 breach of the company. While BleepingComputer has not been able to confirm the legitimacy of all the data in the database, we have confirmed some of the entries are accurate, including those whose data is not publicly accessible for scraping. The data is from an alleged 2021 AT&T data breach that a threat actor known as ShinyHunters attempted to sell on the RaidForums data theft forum for a starting price of $200,000 and incremental offers of $30,000. The hacker stated they would sell it immediately for $1 million. AT&T told BleepingComputer then that the data did not originate from them and that its systems were not breached. ...

Slashdot: US Plans $825 Million Investment For New York Semiconductor R&D Facility

US Plans $825 Million Investment For New York Semiconductor R&D Facility Published on November 02, 2024 at 03:00AM The Biden administration is investing $825 million in a new semiconductor research and development facility in Albany, New York. Reuters reports: The New York facility will be expected to drive innovation in EUV technology, a complex process necessary to make semiconductors, the U.S. Department of Commerce and Natcast, operator of the National Semiconductor Technology Center (NTSC) said. The launch of the facility "represents a key milestone in ensuring the United States remains a global leader in innovation and semiconductor research and development," Commerce Secretary Gina Raimondo said. From the U.S. Department of Commerce press release: EUV Lithography is essential for manufacturing smaller, faster, and more efficient microchips. As the semiconductor industry pushes the limits of Moore's Law, EUV lithography has emerged as a critical technology to ...

Slashdot: AT&T, T-Mobile Prep First RedCap 5G IoT Devices

AT&T, T-Mobile Prep First RedCap 5G IoT Devices Published on October 15, 2024 at 03:20AM The first 5G Internet of Things (IoT) devices are launching soon. According to Fierce Wireless, T-Mobile plans to launch its first RedCap devices by the end of the year, while AT&T's devices are expected sometime in 2025. From the report: All of this should pave the way for higher performance 5G gadgets to make an impact in the world of IoT. RedCap, which stands for reduced capabilities, was introduced as part of the 3GPP's Release 17 5G standard, which was completed -- or frozen in 3GPP terms -- in mid-2022. The specification, which is also called NR-Light, is the first 5G-specific spec for IoT. RedCap promises to offer data transfer speeds of between 30 Mbps to 80 Mbps. The RedCap spec greatly reduces the bandwidth needed for 5G, allowing the signal to run in a 20 MHz channel rather than the 100 MHz channel required for full scale 5G communications. Read more of this story at...

Shameless Plug

Search This Blog