Facebook has an independent monitoring agency responsible for reviewing its policies and making recommendations and is considered the highest court of Facebook. The board of directors recently recommended that Facebook change one of its policies, and Facebook has approved it. In response to the European Commission’s ruling, a video of two black faces was received here. The company stated that it will change the protection grounds in the community’s hate speech guidelines to improve the background of why it prohibits destructive stereotypes.
Facebook wants its policies to be credible and does not defend certain policies related to community values. Facebook said it will reconsider its previous position based on the board’s recommendation. Facebook also has a better plan to notify people who violate Facebook’s hate speech rules, and the board of directors has reiterated this many times in its decision. Facebook also made it clear that it has made some improvements to notifications by using an additional classifier that explains what kind of hate speech is used in human content. The company organized updated user notifications in English, which included clear messages about their interactions.
When Facebook removed content from its website, this post explained the reasons for removing inhuman content. Facebook also plans to expand such notifications in other languages and will launch similar features on Instagram to make its policies more transparent. On the other hand, the Diem Digital Currency Group Association, led by the Libra Facebook project, contacted us again and launched a stable US dollar coin, because this offset its global concentration in the United States for centralization.
Twenty-six financial companies and other non-profit organizations announced that they will relocate their core business from Switzerland to the United States and have withdrawn their payment system license applications from the Swiss Comptroller. It operates through a blockchain-based payment system that allows Diem stablecoins to be transferred in real-time and registered as a money service provider in the U.S. Treasury Department and Financial Crime Network. Virtual currency is linked to legal currency. Silver Bank will launch the Diem USD stablecoin and supervise Diem USD funds. Said that he will launch a stable version of the trial version, but did not disclose when. The association also stated that it hopes to make payments faster and cheaper and that the payment system is secure.
The Swiss financial market manager also confirmed Diem’s decision to introduce the US payment system in the initial stage, because the project will focus on the US as the main market. Facebook first announced Libra’s plan in June 2019 to expand its efforts beyond social media to the areas of commerce and payment systems. He said that Libra, and teams such as payment institutions and credit card companies, will produce a virtual token backed by a ubiquitous currency combination and short-term sovereign debt. Facebook hopes that more people can get financing through scale. However, some politicians oppose the plan because they believe it will reduce control of the currency system and may increase the number of crimes. Libra and his staff abandoned their plans to seize automatic debit cards and coin transporters in favor of stable coins backed by major currencies, hoping to obtain permission from the Swiss controller. In December, when Libra tried to use it again to obtain government approval, it was again marked by Diem. This is an area established outside the only digital currency backed by the U.S. dollar.
The board of directors recently recommended that Facebook change one of its policies, and Facebook has approved it. The company stated that it will change the protection grounds in the community’s hate speech guidelines to improve the background of why it prohibits destructive stereotypes. Facebook first announced Libra’s plan in June 2019 to expand its efforts beyond social media to the areas of commerce and payment systems.