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Because it's digital. In the west, we have a digital abstraction around our fiat money (credit cards / ACH bank transfers) to send our money easily (sorta). In

Because it's digital. In the west, we have a digital abstraction around our fiat money (credit cards / ACH bank transfers) to send our money easily (sorta). In the emerging markets Libra is primarily targeting (Facebook's fastest growing market), many people have phones and internet (and FB/Whatsapp), but no banking. This doesn't need to beat our fiat, it just needs to beat fiat in Africa. That said, Libra still has many of the benefits of other crypto for general consumers (ie. the grand majority of people who aren't very worried about the government seizing their accounts or freezing transactions): - It's safer than a credit card, since payments happen by sending currency (like cash) rather than forking over bank or credit card credentials to a website (the equivalent of forking over private keys) - Transaction fees are far lower

CaptainZapp 7y ago
It's safer than a credit card, since payments happen by sending currency (like cash) rather than forking over bank or credit card credentials to a website (the equivalent of forking over private keys) Why should it be safer than paying by credit card? If a payment is fraudulent it's not my problem and I get refunded. If the service I paid for isn't received or is not as advertised I have the means of a charge back. With crypto no matter how turn it it's gone. And looking at customer service at tech companies I put exactly zero stock that I get help from them. So I think you have that backwards. Transaction fees are far lower Says who? We don't know that yet, do we? Edited to add: I think the comparison between handing over my credit card number to a website with handing over my private keys is beyond ludicrous.