11–20 of 313 posts
Unfortunately I feel like it might pick up and become a thing.
I too dismissed Libra out of hand, but the coalition that Facebook is building is interesting. People say that "Fintech threatens the banks" but almost all Fintech companies partner with the banks in one way or another. Look at the companies involved with Libra and see that none of them are banks. Libra will still have a lot of money on deposit with the banks, but it might be the first Fintech that will really bypass…
Are they beating PayPal by the length of that list?
Earlier quoted context omitted.
Where is the Visa press release? Where is the Uber CEO interview on Libra? The Libra membership list is kind of meaningless, given that none of the partners seem to have any interest of promoting the project... mainly Zuck just asked these companies "Hey, you want to be on a list for a tech project for some free PR?" and until we hear more from the partners there's no reason to take this list seriously.
It's likely going to be more stringent than that. I doubt Visa/MasterCard would allow their logo next to Libra without knowing what they're signing up for.
Something I haven't seen yet: If my computer has a bit of malware land on it, do I lose my entire wallet worth of Libra irrevocably? If so, this seems pretty questionable as a mass-market money...
Earlier quoted context omitted.
Where is the Visa press release? Where is the Uber CEO interview on Libra? The Libra membership list is kind of meaningless, given that none of the partners seem to have any interest of promoting the project... mainly Zuck just asked these companies "Hey, you want to be on a list for a tech project for some free PR?" and until we hear more from the partners there's no reason to take this list seriously.
It's not entirely free: those companies are paying $10M to run a Libra node. That's still pocket change as a hedge in case it actually takes off. So maybe they're happy to shut up for now, let Zuck take the regulatory flack, and if it seems like Libra will take off on FB's efforts, they're positioned to benefit from adoption.
Please show me a citation of where is says concretely that Visa/Uber/etc have handed $10M to this project. The Libra project so far is just wishful thinking about things that maybe, might possibly happen sometime.
Something I haven't seen yet: If my computer has a bit of malware land on it, do I lose my entire wallet worth of Libra irrevocably? If so, this seems pretty questionable as a mass-market money...
Maybe we can store libra in some sort of institution that would provide some guarantees, like returning your libra if they get stolen. They could make money by investing the libra they hold and keeping the interest.
Since this is something similar to a old school money lenders table over which exchanges took place, we shall adopt the Old Italian word for table, banca, and call it a "bank"!
Something I haven't seen yet: If my computer has a bit of malware land on it, do I lose my entire wallet worth of Libra irrevocably? If so, this seems pretty questionable as a mass-market money...
Maybe we can store libra in some sort of institution that would provide some guarantees, like returning your libra if they get stolen. They could make money by investing the libra they hold and keeping the interest.
I can't help but think that Facebook doomed this "distributed ledger" possibility by trying to be first to market with a tarnished brand. The developing world would hugely benefit from a scalable technology that can efficiently service digital transactions. The piece demonstrates this with how quickly WeChat Pay and Alipay penetrated China. I can't imagine the possibility for prosperity when 3 billion consumers enter…
I once saw a PR person talk about how you had to earn your way to allow yourself to be part of certain larger societal conversations. Start at grass roots, earn trust there, step up to communities, earn trust there, step up to local governments etc etc. Being big doesn't earn you anything out the gate. I liked this idea. However charitably you think about Facebook, I don't think you could possibly surmise that Facebook has earned its way to the conversation of its stated aims of helping people who can't get credit cards use digital currency.
I think Libra would have been marketed much better if it had been a separate company with FB taking a 51% controlling stake, and these other validators making up the rest.
Something I haven't seen yet: If my computer has a bit of malware land on it, do I lose my entire wallet worth of Libra irrevocably? If so, this seems pretty questionable as a mass-market money...
Is this a problem for Paypal?