Facebook confronts resistance to cryptocurrency plans. A bipartisan firewall has appeared in Washington since Facebook announced its plans to develop a digital coin, called Libra. (WSJ)
From the Treasury. U.S. Treasury Secretary Steve Mnuchin said Monday that Libra was a “long way away from” securing approval from U.S. regulators.
To the House. Rep. Maxine Waters (D., Calif.), the chairwoman of a powerful House committee, separately drafted legislation that would block the social-media giant from operating Libra, which Facebook has said it hopes to make available by next year.
And beyond. The Group of Seven industrialized nations—which includes European governments already wary of the U.S.’s tech giants—plans this week to discuss risks posed by Libra and other cryptocurrencies.
FWIW. Facebook said its Libra cryptocurrency would be regulated by Switzerland’s financial watchdog, adding the digital money would never compete with national currencies or undermine the role of central banks.
Shunning security warnings, the Philippines is in China's camp. The country got its first taste of next-generation 5G services in late June with gear supplied by Huawei Technologies Co. The company is also supplying surveillance systems, including 10,000 high-definition cameras. This month, a new carrier backed by state-owned China Telecommunications Corp. will begin rolling out a network largely designed in China, to be executed by Chinese engineers in the Philippines. Some in the country worry they’re now more vulnerable to cyber risks. (WSJ)
Blockchain euphoria transforms into something else. A Reuters review of 33 blockchain projects launched at large companies over the past four years reveals muted results. At least a dozen have not gone beyond the testing stage and of those that have, none have seen extensive use. (Reuters)
Food-delivery companies serve restaurants better tech. Delivery companies are sharing more data and fusing technology more seamlessly with restaurants to counter the growing sense that sending food to customers can be more trouble than it is worth. (WSJ)
Unilever builds out digital twins. The consumer-goods giant is working with Microsoft Corp. to create virtual versions of its roughly 300 global plants over the next year or so. The technology lets the Anglo-Dutch company make real-time changes to optimize output, use materials more precisely and help limit waste from product that doesn’t meet quality standards. So far the company is streaming data from 15 factories, with plans to connect 70 sites by the end of the year and another 100 or so in 2020. (WSJ)
Computing great honored. The U.K.'s central bank plans on putting computer pioneer Alan Turing on its £50 note. (New York Times)
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