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> simple global currency and financial infrastructure that empowers billions of people. This is the material anti-trust lawsuits are made of, there is no way t
by orbifold 7y ago
> simple global currency and financial infrastructure that empowers billions of people.
This is the material anti-trust lawsuits are made of, there is no way that nation states will allow private enterprises to gain that much power.
- thefounder 7y agoTell that to visa and mastercard or SWIFT
- Angostura 7y agoI don't believe either of those have introduced their own currency.
- thefounder 7y agoHow is their platform different in practical terms than libra? Libra itself is not a new currency. I believe it's pegged to the US dollar. In the real world you really pay with visa/mastercard, paypal or swift, not with "real" money.
- bertil 7y agoLibra is pegged to a basket of values. I suspect that this could lead companies to prefer to store liquidity and report on Libra as it could be more stable than any individual currency, including USD.
- bertil 7y agoVisa, Mastercard and Swift have spent a lot of time and effort lobbying their _de facto_ monopoly, carefully advocating that… for lack of a better phrasing: they are essential and facilities but not “essential facilities”. The best example of something impressive in that area is the concept of Two-sided markets, that comes with natural, customer-benefiting monopoly and even a justification for aggressive dumping baked-in in the model. I’m personally familiar with several of the contributors to that area and I can’t suspect that was ‘sponsored’ research but, Lord, you have to be lucky to get a Nobel prize to defend you.
- orbifold 7y agoSWIFT is just a on paper private entity, there’s a reason they are located in Belgium where also the NATO headquarters are: SWIFT is a pillar of the US empire and its client states.