Saturday, June 22, 2024

Facebook’s Libra: a solution for what problem now?

By DAC000 , in Cryptocurrency Facebook Libra , at April 20, 2020 Tags: , ,

Facebook retools Libra in yet-another-attempt to appease and launch, and now plans to offer the stablecoin linked to specific currencies, rather than a based. Bonus primer on Libra, clearly detailing why everyone hates Facebook’s proposed cryptocurrency. About a ten-minute read.

Comment: Facebook clearly doesn’t get it — Libra carries significant downside and little to no upside. And given Facebook’s well documented history of privacy concerns means sharing your bank details or even putting your capital into Libra is a big turn off, because, uhhh, Facebook.