Zuckerberg defends Facebook’s currency plans before Congress


>>Want to get on facebook>>Want to get on facebook
founder Mark zuckerberg in his>>Want to get on facebook
founder Mark zuckerberg in his
second recent appearance on founder Mark zuckerberg in his
second recent appearance on
Capitol Hill, the face of the second recent appearance on
Capitol Hill, the face of the
multimedia jai defended the new Capitol Hill, the face of the
multimedia jai defended the new
crypto currency that facebook multimedia jai defended the new
crypto currency that facebook
wants to roll out. crypto currency that facebook
wants to roll out.
He also took questions on fake wants to roll out.
He also took questions on fake
ads with the presidential He also took questions on fake
ads with the presidential
election nearing newsfourjax ads with the presidential
election nearing newsfourjax
consumer investigator Lauren election nearing newsfourjax
consumer investigator Lauren
verno is joining us Laura and consumer investigator Lauren
verno is joining us Laura and
today’s hearing it really had verno is joining us Laura and
today’s hearing it really had
lawmakers questioning just how today’s hearing it really had
lawmakers questioning just how
much of what we see on facebook lawmakers questioning just how
much of what we see on facebook
is actually legitimate you know much of what we see on facebook
is actually legitimate you know
we all have those questions so is actually legitimate you know
we all have those questions so
this has been a major concern we all have those questions so
this has been a major concern
since the 2016 election. this has been a major concern
since the 2016 election.
>>And is once again an issue since the 2016 election.
>>And is once again an issue
with the presidential elections next year. We’ve all heard the next year. We’ve all heard the
term fake news was on her birds next year. We’ve all heard the
term fake news was on her birds
testimony today opened up the term fake news was on her birds
testimony today opened up the
floodgates as to who is or testimony today opened up the
floodgates as to who is or
really is it monitoring these floodgates as to who is or
really is it monitoring these
ads that pop up on the site really is it monitoring these
ads that pop up on the site
but the main reason zuckerberg ads that pop up on the site
but the main reason zuckerberg
was there was since its costs but the main reason zuckerberg
was there was since its costs
this idea of a new digital was there was since its costs
this idea of a new digital
crypto currency called Libra this idea of a new digital
crypto currency called Libra
Libor would operate at the crypto currency called Libra
Libor would operate at the
digital currency, providing an Libor would operate at the
digital currency, providing an
old her native digital currency, providing an
old her native
to the US dollar and other old her native
to the US dollar and other
currencies managed by foreign to the US dollar and other
currencies managed by foreign
governments. Now even currencies managed by foreign
governments. Now even
zuckerberg admitted he might be governments. Now even
zuckerberg admitted he might be
over as head take a listen. zuckerberg admitted he might be
over as head take a listen.
>>I actually don’t know if over as head take a listen.
>>I actually don’t know if
Libor is going to work.>>I actually don’t know if
Libor is going to work.
I believe that it’s important Libor is going to work.
I believe that it’s important
to try new things and is as I believe that it’s important
to try new things and is as
long as you’re doing so to try new things and is as
long as you’re doing so
responsibly that’s what has long as you’re doing so
responsibly that’s what has
made America successful that’s responsibly that’s what has
made America successful that’s
why are Tech industry is let made America successful that’s
why are Tech industry is let
the world. why are Tech industry is let
the world.
>>Zuckerberg went on to say the world.
>>Zuckerberg went on to say
the company would be willing to>>Zuckerberg went on to say
the company would be willing to
drop its plans to participate the company would be willing to
drop its plans to participate
if us regulators want approve drop its plans to participate
if us regulators want approve
the project. Now these a master if us regulators want approve
the project. Now these a master
card and pay POW were just a the project. Now these a master
card and pay POW were just a
few of the major companies to card and pay POW were just a
few of the major companies to
withdraw from the Libra few of the major companies to
withdraw from the Libra
Association earlier this month. withdraw from the Libra
Association earlier this month.
But one of the major Association earlier this month.
But one of the major
announcements come out of But one of the major
announcements come out of
today’s testimony was when announcements come out of
today’s testimony was when
zuckerberg was pressed on today’s testimony was when
zuckerberg was pressed on
whether ads like political zuckerberg was pressed on
whether ads like political
ones, our fact checked before whether ads like political
ones, our fact checked before
going live. ones, our fact checked before
going live.
>>Let me be clear you do no going live.
>>Let me be clear you do no
fact checking on any ads is>>Let me be clear you do no
fact checking on any ads is
that correct. fact checking on any ads is
that correct.
>>Chairwoman of what we do is that correct.
>>Chairwoman of what we do is
we work with. A set of>>Chairwoman of what we do is
we work with. A set of
independent we work with. A set of
independent
fact checkers. independent
fact checkers.
>>Who somebody that checks fact checkers.
>>Who somebody that checks
on Ed’s you have you contract>>Who somebody that checks
on Ed’s you have you contract
that someone to do that is that on Ed’s you have you contract
that someone to do that is that
right. that someone to do that is that
right.
And tell me who right.
And tell me who
is it that they back tracked And tell me who
is it that they back tracked
on. is it that they back tracked
on.
>>What we do is when content on.
>>What we do is when content
is getting a lot of>>What we do is when content
is getting a lot of
distribution and us flagged by is getting a lot of
distribution and us flagged by
members of our community or by distribution and us flagged by
members of our community or by
our technical systems. It can members of our community or by
our technical systems. It can
go into a cue to be reviewed by our technical systems. It can
go into a cue to be reviewed by
a set of independent fact go into a cue to be reviewed by
a set of independent fact
checkers the can fact check a set of independent fact
checkers the can fact check
everything that the things that checkers the can fact check
everything that the things that
they get to win apart something everything that the things that
they get to win apart something
is false than we. they get to win apart something
is false than we.
>>Yes overall what is false than we.
>>Yes overall what
we got out this testimony is>>Yes overall what
we got out this testimony is
that we won’t be seeing this we got out this testimony is
that we won’t be seeing this
crypto currency popping up that we won’t be seeing this
crypto currency popping up
anytime soon not until us crypto currency popping up
anytime soon not until us
regulators feel comfortable anytime soon not until us
regulators feel comfortable
moving forward and at this

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