The fast evolving world of crypto currency is reportedly buzzing with the latest launch of first decentralized eco-friendly crypto currency EDRCoin. Developed by Blockchain, the futuristic currency is aimed to change the world of money for better. With its costs based on the value of USA-Dollar rate (1EDRC =$1), EDRC can be deployed for internet shopping, virtual game payments & for the transaction of goods & services in any country.
“We are glad to announce the launch of our latest crypto currency EDRC which is going to add a new positive dimension to the world of money. The advanced decentralized crypto currency is themed on a green mining principle that banks on sustainable energy-efficient policies for generating money”, smiled one of the chief spokespersons from Blockchain.
Esteemed philanthropist & business tycoon Charles Chen is the developer & co-founder of EDRC. The main objective behind EDRC is creation of general-purpose payment system & steady exchange rate, themed on USA-Dollar rate- with due regard to the environment. “While the regular cryptocurrencies unmindfully destroy the earth’s ecology with their mining operations, EDRC is careful about protection of natural resources. Our unique technology takes to utilization of alternate energy like solar panels & we make sure to leave no carbon footprint on Mother Nature.”
EDRC’s eco-friendly operations are carried in collaboration with independent private farms situated in different parts of the globe. 7 percent of the income generated from EDRC system would be utilized for the restoration of mangrove forests in Asia & development of new solar panels. Based of PoS (Proof-of-Stake) method, EDRC uses Skrypt function for hashing. “Our developers have considered the issue of hacking attacks common with POW-based existent digital money & addressed all such flaws with the new advanced EDRC. Our cutting edge crypto currency assures complete credibility & solid protection from any external attack, theft or hacking invasions. To ensure complete security, user’s personal & financial data would be kept private.” explained the Blockchain manager.
EDRC mining is ongoing and would supposedly complete by 31st December, 2017, with the release of around 22 million coins. “As our PoS system capitalizes on the users owning coins to validate the transactions, one transaction per day would be rewarded by an increment of 0.35 percent of the wallet-total. EDRCoins are immaterial & follows a purely mathematical approach that works with digital code.”Speaking further, the manager emphasized on an edgy feature of EDRC that allows seamless number of accounts for creating & mining. Given its decentralized structure & antitrust philosophy, EDRC mining is guarded from artificial increment of cryptocurrency number. The banking system cannot exert any control on EDRC mining & hence can’t affect its value & quantity. “EDRC is the best thing from the contemporary financial world. Join the EDRC community now for a welcome change in the perception of money”, the manager added in.
Facebook’s Parent Company Rebrands Itself as Meta as it Focuses on Building the “Metaverse”
Facebook is now called Meta, the company said on Thursday, in a rebrand that focuses on building the “metaverse,” a shared virtual environment that it bets will be the successor to the mobile internet. The name change comes as the world’s largest social media company battles criticisms from lawmakers and regulators over its market power, algorithmic decisions, and the policing of abuses on its services.
CEO Mark Zuckerberg, speaking at the company’s live-streamed virtual and augmented reality conference, said the new name reflected its work investing in the metaverse, rather than its namesake social media service, which will continue to be called Facebook. The metaverse is a term coined in the dystopian novel “Snow Crash” three decades ago and now attracting buzz in Silicon Valley. It refers broadly to the idea of a shared virtual realm that can be accessed by people using different devices.
“Right now, our brand is so tightly linked to one product that it can’t possibly represent everything that we’re doing today, let alone in the future,” said Zuckerberg. The company, which has invested heavily in augmented and virtual reality, said the change would bring together its different apps and technologies under one new brand. It said it would not change its corporate structure.
The tech giant, which reports about 2.9 billion monthly users, has faced increasing scrutiny in recent years from global lawmakers and regulators. In the latest controversy, whistleblower and former Facebook employee Frances Haugen leaked documents which she said showed the company chose profit over user safety. Haugen has in recent weeks testified before a U.S. Senate subcommittee and lawmakers in the UK’s Parliament.
Zuckerberg earlier this week said the documents were being used to paint a “false picture.” The company said in a blog post that it intends to start trading under the new stock ticker it has reserved, MVRS, on Dec. 1. On Thursday, it unveiled a new sign at its headquarters in Menlo Park, California, replacing its thumbs-up “Like” logo with a blue infinity shape.
Facebook said this week that its hardware division Facebook Reality Labs, which is responsible for AR and VR efforts, would become a separate reporting unit and that its investment in it would reduce this year’s total operating profit by about $10 billion. This year, the company created a product team in this unit focused on the metaverse and it recently announced plans to hire 10,000 employees in Europe over the next five years to work on the effort.
Zuckerberg recently said in an interview with a leading tech publication, that he has not considered stepping down as CEO, and has not thought “very seriously yet” about spinning off this unit. The division will now be called Reality Labs, its head Andrew “Boz” Bosworth said on Thursday. The company will also stop using the Oculus branding for its VR headsets, instead calling them “Meta” products.
The name change, the plan for which was first reported by the Verge, is a significant rebrand for Facebook, but not its first. In 2019 it launched a new logo to create a distinction between the company and its social app. The company’s reputation has taken multiple hits in recent years, including over its handling of user data and its policing of abuses such as health misinformation, violent rhetoric and hate speech. The U.S. Federal Trade Commission has also filed an antitrust lawsuit alleging anticompetitive practices.
“While it’ll help alleviate confusion by distinguishing Facebook’s parent company from its founding app, a name change doesn’t suddenly erase the systemic issues plaguing the company,” said Mike Proulx, research director at market research firm Forrester.
The plans to phase out the Facebook name even from products like video calling device Portal show the company is eager to prevent the unprecedented scrutiny from hurting the rest of its apps, said Prashant Malaviya, a marketing professor at Georgetown University McDonough School of Business.
“Without a doubt, (the Facebook name) is definitely damaged and toxic,” he said. Zuckerberg said the new name, coming from the Greek word for “beyond,” symbolized there was always more to build. Twitter CEO Jack Dorsey on Thursday tweeted out a different definition “referring to itself or to the conventions of its genre; self-referential.”
Zuckerberg said the new name also reflects that over time, users will not need to use Facebook to use the company’s other services.
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