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I 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.
Cowards just are fleeing as government bullies said they won't tolerate loosing control over citizens' money.
Earlier quoted context omitted.
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Let's remind ourselves that the entire point of the Calibra organization from which these companies have withdrawn their applications is to decentralize the governance of the coin.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.
I'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.
This will be live by the end of 2019 in a similar form.
The MakerDAO stablecoin system on the Ethereum blockchain produces the DAI stablecoin, with 1 DAI pegged at 1 USD. There's currently $85M of DAI in circulation.
Each $1 of DAI is backed with $1.50 of Ether, the currency of the Ethereum blockchain.
Later this year a major upgrade will go live named "MakerDAO multi-collateral DAI". The "multi-collateral" bit is related to a basket of currencies.
By Q1 2020, the DAI stablecoin will be backed still by ETH, but also backed by USDC (a US dollar stablecoin run by Coinbase), REP (a token for the Augur decentralized prediction market), and other tokens.
Not exactly "a digital currency backed by a floating basket of currencies" but a related concept and in production very soon :-)
https://mkr.tools https://vote.makerdao.com https://makerdao.com
Earlier quoted context omitted.
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Let's remind ourselves that the entire point of the Calibra organization from which these companies have withdrawn their applications is to decentralize the governance of the coin.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.
Libra Association is the organization these companies have withdrawn from.
I guess people had issues of the currency being used to all sort of illegal things, e.g., human enslaving, human organ trafficking, and so on...
I wonder how much of this is companies distancing themselves from Facebook rather than being purely about the cryptocurrency project.
I wager it's the bad press and negative reactions (particularly from European governments) Facebook/Libra have gotten. That's something they possibly didn't anticipate.
I wonder how much of this is companies distancing themselves from Facebook rather than being purely about the cryptocurrency project.
I suspect their involvment was almost more of a "Keep your friends close and your enemies closer" sort of thing. The idea that it's better to be involved than shut out. But if I were them, I would be low-key thrilled that this is falling apart.