Visa, Mastercard, Stripe, and eBay exit Facebook’s Libra project
1–10 of 359 posts
Re: Visa, Mastercard, Stripe, and eBay exit Facebook’s Libra project
#2Other than eBay, guessing the reason why the payment cos are dropping out first is because they have the highest regulatory/compliance burden as is, and don’t need more scrutiny dealing with something they don’t even fully understand just so they can win some brownie points with FB.
Re: Visa, Mastercard, Stripe, and eBay exit Facebook’s Libra project
#3I'm actually kind of bummed out about this. I may not like FB, but I like the idea of a digital currency backed by a floating basket of currencies.
Re: Visa, Mastercard, Stripe, and eBay exit Facebook’s Libra project
#4Other than eBay, guessing the reason why the payment cos are dropping out first is because they have the highest regulatory/compliance burden as is, and don’t need more scrutiny dealing with something they don’t even fully understand just so they can win some brownie points with FB.
Well, Ebay owned Paypal until they spun it off again. Perhaps the execs still have nightmares about dealing with financial regulations (or trying to walk the line so they didn't have to) and don't want to deal with it again.
Re: Visa, Mastercard, Stripe, and eBay exit Facebook’s Libra project
#5I wonder how much of this is companies distancing themselves from Facebook rather than being purely about the cryptocurrency project.
Re: Visa, Mastercard, Stripe, and eBay exit Facebook’s Libra project
#6I'm actually kind of bummed out about this. I may not like FB, but I like the idea of a digital currency backed by a floating basket of currencies.
Not one that isn't regulated and that is controlled by a company with a penchant for walking the legal gray area line.
Re: Visa, Mastercard, Stripe, and eBay exit Facebook’s Libra project
#7I'm actually kind of bummed out about this. I may not like FB, but I like the idea of a digital currency backed by a floating basket of currencies.
Not one that isn't regulated and that is controlled by a company with a penchant for walking the legal gray area line.
Agree, Facebook is a malicious actor. They are a surveillance and propaganda platform. I don’t want them controlling a currency as they’d likely just abuse it.
Re: Visa, Mastercard, Stripe, and eBay exit Facebook’s Libra project
#8I'm actually kind of bummed out about this. I may not like FB, but I like the idea of a digital currency backed by a floating basket of currencies.
Not one that isn't regulated and that is controlled by a company with a penchant for walking the legal gray area line.
A lack of regulation is a bit of the draw, isn't it?
Let's not pretend any of the processors are doing this because they have ethical issues with Facebook. They are likely doing it at the behest of the Fed, the Treasury and other international currencies. It's about power.
Re: Visa, Mastercard, Stripe, and eBay exit Facebook’s Libra project
#9I wonder how much of this is companies distancing themselves from Facebook rather than being purely about the cryptocurrency project.
On the other hand if it weren't facebook they likely would not even have been interested in yet-another cryptocurrency. Especially if it's even not available, but just a work-in-progress thing.
Re: Visa, Mastercard, Stripe, and eBay exit Facebook’s Libra project
#10I'm actually kind of bummed out about this. I may not like FB, but I like the idea of a digital currency backed by a floating basket of currencies.
Not one that isn't regulated and that is controlled by a company with a penchant for walking the legal gray area line.
Let's remind ourselves that the entire point of the Calibra organization from which these companies have withdrawn their applications is to decentralize the governance of the coin.
Facebook would not have unilateral control by any stretch of the imagination.