111–120 of 1001 posts
Why, of course I trust Facebook with my financial transactions. Why would they lie about privacy? This can only be an altruistic course of action
I can imagine few things i'm less likely to want than a currency in any way connected to facebook.
See China or plenty of other countries where people send money to each other via mobile.
I can imagine few things i'm less likely to want than a currency in any way connected to facebook.
That's one vote against. Reality is that "everyone" uses FB /Whatsapp and sending money via FB that everyone uses makes plenty of sense. See China or plenty of other countries where people send money to each other via mobile.
I can imagine few things i'm less likely to want than a currency in any way connected to facebook.
It's interesting to think that money is one of the things that the Internet hasn't "distrupted" yet, but maybe this is one attempt.
Speaking of trust, one should remember that the dollar bill was a promise from the Federal Reserve to pay whoever had that piece of paper to pay them the actual money written on it. I wonder who would trust the Central Bank of Facebook that they're "good for it"?
I can imagine few things i'm less likely to want than a currency in any way connected to facebook.
That's one vote against. Reality is that "everyone" uses FB /Whatsapp and sending money via FB that everyone uses makes plenty of sense. See China or plenty of other countries where people send money to each other via mobile.
I'm going with G.) Other.
Hording cash is a terrible investment idea.
EDIT: Hording and Investing typically means to generate future value. Daily spending money can be done in cash. I would hope I didn't need to explicitly say this, but hey, economics is hard.
"Why blockchain? Can't this be done with a database?"
Blockchains are databases. They are distributed, append-only, tamper-proof databases. You could call them that, or instead you could just say "blockchain" as that is what type of database the word blockchain has come to be understood as.
The reason to use a blockchain rather than a centralized database is because the properties described - distributed and tamper-proof - are crucial to the application. In Libra's case, centralized entities that control financial services (banks) have high fees, are slow, and are not trusted in some respects (financial bailout) while being highly trusted in others (not waking up and losing your money). A blockchain can provide solutions to the problems of centralized financial entities with the benefits of distributed ones.
Hmm, should I use United States Dollars? OR Facebook United States Dollars? I'm going with G.) Other. Hording cash is a terrible investment idea. EDIT: Hording and Investing typically means to generate future value. Daily spending money can be done in cash. I would hope I didn't need to explicitly say this, but hey, economics is hard.
I was horrified at this news at first, but WeChat isn't too terrifying, and they're far more ubiquitous.
I just hope the social network aspect of Facebook (and Instagram) continues to shrivel.