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Calibra – Digital Wallet for Libra

calibra.com

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Re: Calibra – Digital Wallet for Libra

#11

Post by dgellow »

From the FAQ:

> Question: How will you prevent fraud?

> Anwer: All accounts and transactions are verified, and fraud prevention is built in throughout the app. Accounts are verified with government-issued ID, so you know people are who they say they are. Facebook and WhatsApp account information are also used when available to verify identity and prevent fraud. Calibra also has in-app reporting and dedicated customer service. In the rare event of unauthorized fraud, you will receive a full refund.

How can they refund the money? Would that mean that they have full control on the currency? And if they do, doesn't that defeat the purpose of a blockchain?

Re: Calibra – Digital Wallet for Libra

#12

Post by rahimnathwani »

pmlnr wrote: post #9

> Imagine if cash became digital. Been there, in China, with Alipay. Absolutely no way for an EU person to pay with it: doesn't accept European phone number for sign up and since the end of 2018 one can not get a proper Chinese SIM with a passport. Don't touch cash. That's the only fallback we have for outages, when someone is without data connection (ghasp!) or for scenarios where politics or decisions make it impos…

"since the end of 2018 one can not get a proper Chinese SIM with a passport"

I took my passport to a China Unicom shop in Beijing a few weeks ago, to get a SIM for a visiting relative. The process took about 10 minutes.

"Alipay is that it requires data connection from both sides"

No it doesn't. If I print out my payment QR code, you can scan it and pay me even if my phone is off. When I buy vegetables at the market, the vendors have their Alipay and WeChat QR codes displayed on stickers.

Some vendors have cheap bluetooth devices which announce the amount of each incoming payment, but most vendors trust the customer and don't bother to check whether a payment was made.

Re: Calibra – Digital Wallet for Libra

#13

Post by pmlnr »

dgellow wrote: post #11

From the FAQ: > Question: How will you prevent fraud? > Anwer: All accounts and transactions are verified, and fraud prevention is built in throughout the app. Accounts are verified with government-issued ID, so you know people are who they say they are. Facebook and WhatsApp account information are also used when available to verify identity and prevent fraud. Calibra also has in-app reporting and dedicated customer…

refund => reverse commit forward

Refund is not necessarily reversing a transaction.

Re: Calibra – Digital Wallet for Libra

#14

Post by ilaksh »

This is Facebook's attempt to cash in on the cryptocurrency hype with a high tech type of bank before real cryptocurrencies can scale and become mainstream.

I consider it a moral imperative for developers to stop this. In fact I will probably make some comment like that at some point on their GitHub pages. Which I expect to be removed. But this is the good fight. It's what Star Wars is really about. Defeating the evil empire.

Re: Calibra – Digital Wallet for Libra

#15

Post by croon »

dgellow wrote: post #11

From the FAQ: > Question: How will you prevent fraud? > Anwer: All accounts and transactions are verified, and fraud prevention is built in throughout the app. Accounts are verified with government-issued ID, so you know people are who they say they are. Facebook and WhatsApp account information are also used when available to verify identity and prevent fraud. Calibra also has in-app reporting and dedicated customer…

I would assume they have full control of the currency, but it doesn't negate the purpose of blockchain, but perhaps the purpose of proof-of-work, so I hope they use something different.

But long and short I think is that people don't want to have the possibility of losing their wallet, meaning someone else needs to have authority over it. I dislike the slowness and transaction fees of banks, not the state backed security.

Re: Calibra – Digital Wallet for Libra

#16

Post by pmlnr »

rahimnathwani wrote: post #12
pmlnr wrote: post #9

> Imagine if cash became digital. Been there, in China, with Alipay. Absolutely no way for an EU person to pay with it: doesn't accept European phone number for sign up and since the end of 2018 one can not get a proper Chinese SIM with a passport. Don't touch cash. That's the only fallback we have for outages, when someone is without data connection (ghasp!) or for scenarios where politics or decisions make it impos…

"since the end of 2018 one can not get a proper Chinese SIM with a passport" I took my passport to a China Unicom shop in Beijing a few weeks ago, to get a SIM for a visiting relative. The process took about 10 minutes. "Alipay is that it requires data connection from both sides" No it doesn't. If I print out my payment QR code, you can scan it and pay me even if my phone is off. When I buy vegetables at the market,…

> I took my passport to a China Unicom shop in Beijing a few weeks ago, to get a SIM for a visiting relative. The process took about 10 minutes.

Tried to do the same in a tourist city (not a tier 1 city), beginning of May, didn't work. I wanted a full SIM, not a data only SIM though, which one did you get?

> No it doesn't. If I print out my payment QR code, you can scan it and pay me even if my phone is off. When I buy vegetables at the market, the vendors have their Alipay and WeChat QR codes displayed on stickers.

So the vendor (receiver) doesn't need connectivity, but you (sender) do, correct? That's the polar opposite of POS.

Re: Calibra – Digital Wallet for Libra

#17

Post by sprafa »

pmlnr wrote: post #9

> Imagine if cash became digital. Been there, in China, with Alipay. Absolutely no way for an EU person to pay with it: doesn't accept European phone number for sign up and since the end of 2018 one can not get a proper Chinese SIM with a passport. Don't touch cash. That's the only fallback we have for outages, when someone is without data connection (ghasp!) or for scenarios where politics or decisions make it impos…

Alipay appears to be available in Europe now, as the UEFA Nations League tickets could be bought using either alipay or card. source: I bought Nations League tickets.
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