4 ms·
This article captures one of the biggest problems I've seen in the discussion about Libra, which is that everyone has been writing it off as a currency that Fac
by AlphaWeaver 7y ago
This article captures one of the biggest problems I've seen in the discussion about Libra, which is that everyone has been writing it off as a currency that Facebook can control. In reality, Facebook's control is limited to being equal to the other members of the Association. Facebook controls the Calibra wallet, _not_ the currency as a whole.
The thing that really drove this point home for me was when I browsed to both websites. Browsing to the Calibra wallet website, the entire site broke because I have blackholed all Facebook and tracking domains through NextDNS. When I browsed to the Libra website to view the whitepaper, everything worked just fine. This is a great demonstration of who is in control of what.
That being said, I think this article also outlines the clear incentives as to why Facebook would like to promote Libra in the first place, which is the data they have the potential to gather through the Calibra wallet.