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> No government is going to let FB and any coalition do an end run around their national currency China allows WeChat Pay and Alipay to be predominant methods
by panarky 7y ago
> No government is going to let FB and any coalition do an end run around their national currency
China allows WeChat Pay and Alipay to be predominant methods of payment, so it's not obvious to me that new payment methods threaten governments.
What, precisely, is the threat?
And what, exactly, can governments do to stop companies from offering their own scrip?
Would they outlaw Venmo? Gift cards? Airline miles?
- miohtama 7y ago"Bottom 150" governments ability to borrow and issue money weakens, as Libra could often be more stable. When you citizens do not need or want your money the governments ability to control, e.g. tax, quickly diminishes. See usage of USD in developing nations.