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July 30, 2019, 12:25 p.m. EDT

CryptoCorner: Facebook: "No Assurance" that Libra Will Launch, Blockchain Debuts Crypto Exchange The PIT, Pundi X and Samsung Integrate Each Other&039;s Blockchain Tech

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Jul 30, 2019 (Investorideas.com via COMTEX) -- Point Roberts, WA and Delta, BC - July 30, 2019 (Investorideas.com Newswire) Investorideas.com, a leader in crypto and blockchain investing news, in partnership with Fit Pay, Inc.'s (subsidiary of NXT-ID ( NASDAQ: NXTD ) crypto payment tech, Flip and the Genesis Exchange and Wallet App bring you today's edition of the Crypto Corner podcast and commentary on what's driving the cryptocurrency market.

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In a recently published quarterly report , Facebook ( NasdaqGS:FB ) has conceded that its cryptocurrency project, Libra, may never actually see the light of day. The report details the "significant scrutiny from governments and regulators" incurred by the company following the announcement of Libra and frankly discusses the challenges this presents to the realization of the project. An excerpt reads:

"...market acceptance of such currency is subject to significant uncertainty. As such, there can be no assurance that Libra or our associated products and services will be made available in a timely manner, or at all. We do not have significant prior experience with digital currency or blockchain technology, which may adversely affect our ability to successfully develop and market these products and services. We will also incur increased costs in connection with our participation in the Libra Association and the development and marketing of associated products and services, and our investments may not be successful. Any of these events could adversely affect our business, reputation, or financial results."

CNBC reports that crypto wallet platform Blockchain has launched a high-speed cryptocurrency exchange called The PIT, which aims to rival the top companies in the field. Blockchain CEO Peter Smith said The PIT could execute buy or sell orders in "40 to 50 microseconds," which is an "order of magnitude faster than other market players" like Coinbase and Binance. Nicole Sherrod, head of trading products at Blockchain, told CNBC:

"In volatile markets in particular, speed is of utmost importance. I would not feel comfortable delivering a platform to retail investors that puts them in a position where they couldn't get in and out of a trade with lightning-fast speed."

Blockchain solutions provider Pundi X and Samsung ( KSE:005930 ) have integrated tech from each other relating to blockchain wallet applications, according to a blog post yesterday. Specifically, Pundi X has integrated the Samsung Blockchain Wallet, and Samsung has adopted the Pundi X XWallet app. An excerpt from the press release reads:

Samsung Galaxy S10 users can now add the XWallet app to their Samsung Blockchain Wallet. Users can move cryptocurrencies stored in the Samsung Blockchain Wallet into the XWallet, which they can then use as a checking account for instant crypto transaction with Pundi X's global payment ecosystem. For XWallet users who use Samsung Galaxy S10, they will also have more options by adding Samsung Blockchain Wallet to their XWallet app. They will be able to choose to store their digital assets securely in Samsung Blockchain Wallet, like a saving account.

Filipino bank UnionBank has launched its own digital currency, according to local outlet PhilStar Global . Called PHX, the currency is a stablecoin built on the company's i2i platform, which stands for island-to-island, institution-to-institution, and individual-to-individual. i2i is UnionBank's clearing system that connects rural banks through blockchain technology.

Sam Mowers, Investorideas

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