PayPal is the first company to walk away from Facebook’s Libra cryptocurrency.
“PayPal has made the decision to forgo further participation in the Libra Association at this time and to continue to focus on advancing our existing mission and business priorities as we strive to democratize access to financial services for underserved populations,” PayPal said in an emailed statement. “We remain supportive of Libra’s aspirations and look forward to continued dialogue on ways to work together in the future. Facebook has been a longstanding and valued strategic partner to PayPal, and we will continue to partner with and support Facebook in various capacities.”
It could be that PayPal isn’t the only firm to walk away from the ambitious effort to transform the entire global financial system.
Mastercard, Visa and other companies may join PayPal in backing away from the Libra project, which has been the subject of mounting criticism since its launch.
As we reported when Libra first launched, Facebook doesn’t control the Libra organization or currency, but gets a single vote alongside the remaining partners which include Uber, Andreessen Horowitz, the venture capital firm with roughly $10 billion in assets under management, Mastercard and Visa. Each partner has invested at least $10 million in the project and the association will promote the open-sourced Libra Blockchain.
The partners will not only pitch the Libra Blockchain and developer platform with its own Move programming language, plus sign up businesses to accept Libra for payment and even give customers discounts or rewards.
Facebook has a lot more riding on the success of the Association that just it’s Libra stake. The company has also launched a subsidiary company called Calibra that handles crypto transactions on its platform that would use the Libra blockchain.
Governments around the world have been up in arms about what they see as Facebook and its partners making an end run around the existing financial services.
And earlier this month, Facebook chief executive Mark Zuckerberg indicated that the company would be willing to push back the launch of the cryptocurrency past its planned 2020 launch date, in an interview with the Japanese Nikkei news service.
Google December Product Reviews Update Affects More Than English Language Sites? via @sejournal, @martinibuster
Google’s Product Reviews update was announced to be rolling out to the English language. No mention was made as to if or when it would roll out to other languages. Mueller answered a question as to whether it is rolling out to other languages.
Google December 2021 Product Reviews Update
On December 1, 2021, Google announced on Twitter that a Product Review update would be rolling out that would focus on English language web pages.
Our December 2021 product reviews update is now rolling out for English-language pages. It will take about three weeks to complete. We have also extended our advice for product review creators: https://t.co/N4rjJWoaqE
— Google Search Central (@googlesearchc) December 1, 2021
The focus of the update was for improving the quality of reviews shown in Google search, specifically targeting review sites.
A Googler tweeted a description of the kinds of sites that would be targeted for demotion in the search rankings:
“Mainly relevant to sites that post articles reviewing products.
Think of sites like “best TVs under $200″.com.
Goal is to improve the quality and usefulness of reviews we show users.”
Continue Reading Below
Google also published a blog post with more guidance on the product review update that introduced two new best practices that Google’s algorithm would be looking for.
The first best practice was a requirement of evidence that a product was actually handled and reviewed.
The second best practice was to provide links to more than one place that a user could purchase the product.
The Twitter announcement stated that it was rolling out to English language websites. The blog post did not mention what languages it was rolling out to nor did the blog post specify that the product review update was limited to the English language.
Google’s Mueller Thinking About Product Reviews Update
Product Review Update Targets More Languages?
The person asking the question was rightly under the impression that the product review update only affected English language search results.
Continue Reading Below
But he asserted that he was seeing search volatility in the German language that appears to be related to Google’s December 2021 Product Review Update.
This is his question:
“I was seeing some movements in German search as well.
So I was wondering if there could also be an effect on websites in other languages by this product reviews update… because we had lots of movement and volatility in the last weeks.
…My question is, is it possible that the product reviews update affects other sites as well?”
John Mueller answered:
“I don’t know… like other languages?
My assumption was this was global and and across all languages.
But I don’t know what we announced in the blog post specifically.
But usually we try to push the engineering team to make a decision on that so that we can document it properly in the blog post.
I don’t know if that happened with the product reviews update. I don’t recall the complete blog post.
But it’s… from my point of view it seems like something that we could be doing in multiple languages and wouldn’t be tied to English.
And even if it were English initially, it feels like something that is relevant across the board, and we should try to find ways to roll that out to other languages over time as well.
So I’m not particularly surprised that you see changes in Germany.
But I also don’t know what we actually announced with regards to the locations and languages that are involved.”
Does Product Reviews Update Affect More Languages?
While the tweeted announcement specified that the product reviews update was limited to the English language the official blog post did not mention any such limitations.
Google’s John Mueller offered his opinion that the product reviews update is something that Google could do in multiple languages.
One must wonder if the tweet was meant to communicate that the update was rolling out first in English and subsequently to other languages.
It’s unclear if the product reviews update was rolled out globally to more languages. Hopefully Google will clarify this soon.
Google Blog Post About Product Reviews Update
Google’s New Product Reviews Guidelines
John Mueller Discusses If Product Reviews Update Is Global
Watch Mueller answer the question at the 14:00 Minute Mark
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