Facebook Quiz

Notes:
Facebook-backed cryptocurrency Libra has been rebranded as “Diem” to gain regulatory approval by emphasising that the project has “organisational independence”. Unlike other cryptocurrencies, Diem is to use Permissioned blockchain. Majority of the other cryptocurrencies use Permissionless blockchain.

Notes:
Google और Facebook को छोटी कंपनियों पर अपने प्रभुत्व का उपयोग करने से रोकने के लिए यूनाइटेड किंगडम अगले साल एक नई प्रतिस्पर्धा व्यवस्था लागू करने के लिए तैयार है।
शासन को ब्रिटेन के प्रतियोगिता नियामक, प्रतिस्पर्धा और बाजार प्राधिकरण (CMA) के भीतर एक इकाई द्वारा लागू किया जाना तय है।

Notes:
The government of Australia has proposed to charge fee from Facebook and Google’s media outlets, for news content.
This move has been proposed for protecting independent journalism in the country.
These big tech firms have to pay to local publishers and broadcasters for their content that appears on the firm’s platforms.

Notes:
The Government of France has decided to re-introduce tax on big Digital firms like Facebook, Amazon, Google etc.
In the early 2020, France suspended the tax on such big digital firms in exchange for a promise by USA to reduce taxation on French products. Since the US administration pulled out of the negotiation, France has decided to reintroduce levy of tax on digital firms.

Notes:
The United Kingdom is set to impose a new competition regime next year to prevent Google and Facebook from using their dominance on smaller firms.
The regime is set to be enforced by a unit within the Britain’s competition regulator, the Competition and Markets Authority (CMA). Google and Facebook accounted for around 80% of 14 billion pounds spent in the country in 2019.

Notes:
According to Facebook’s latest transparency report, India occupied the second position in terms of requests being made for user data.
A total of over 35000 requests were made by India during the period of January-June 2020, which is only second to the United States. The requests made by India has also increased 23 per cent globally.

Notes:
Social Media major Facebook had launched “Face Book News” in the USA. It has decided to expand this feature in India, UK, Germany, France and Brazil.
The company has also stated that it would pay for the content given to the company by news publishers. Facebook has proposed to associate closely with the popular news agencies and publishers in India to deliver better experience for its users.

Notes:
In February 2020, Unacademy raised US$ 110 million in Series E round from Facebook and General Atlantic.

Notes:
Recently Relaince Jio Platforms Ltd. sold 22.38 percent stake worth Rs 1.04 trillion (US$ 14.75 billion) to ten global investors in a span of eight weeks under separate deals, involving Facebook, Silver Lake, Vista, General Atlantic, Mubadala, Abu Dhabi Investment Authority (ADIA), TPG Capital and L. Catterton. This is the largest continuous fundraise by any company in the world.

Notes:
For the first time in the world, US Technology Giants Facebook and Google will pay the media outlets of Australia for news content.
Australia is set to pass a dedicated law which mandates a royalty-style system. This is a historic move by the country to protest independent journalism. Last year, the Australian government asked the tech firms to negotiate with media companies to use their content.