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This is how blockchain nerds report about Facebook cloning PayPal.
by fipple 8y ago
This is how blockchain nerds report about Facebook cloning PayPal.
- jameslevy 8y agoPresumably there's a reason they have a few dozen blockchain engineers working on this beyond just Venmo/Paypal functionality, such as this stablecoin actually being an ERC-20 token that can be transferred to your own wallet.
- fipple 8y agoIf this is an ERC 20 token I will eat my hat.
- dsr_ 8y agoWondering why a centralized authority for a stablecoin needs to use a blockchain at all. This is classic company scrip / money transfer business: keep a ledger of transactions, publish your fees, register as an EFT company, follow the regulations. Facebucks.
- gwbas1c 8y agoPerhaps because the plan is that, once the cryptocurrency is actually used for cash with a stable value, they won't prop it up? That's basically what happened when the USD was no longer backed by gold.