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> Libra is invite only and they invited their business friends. That's a big assumption. They were able to get their business friends to sign on, probably beca

> Libra is invite only and they invited their business friends. That's a big assumption. They were able to get their business friends to sign on, probably because they are already friends. I'm sure they asked a lot of other groups that were more hesitant, it would have made the initial announcement much more powerful. Also important to note non-profits, NGOs, and universities are included, and they don't have to pay the $10m buy-in. > and all that is before the privacy aspect. While accounts may be "anonymous", Facebook can use their data to identify you anyway... The way Libra is designed, that would probably be a lot more trouble than it is worth. Tracking methods without direct trackers (like 3rd-party cookies) work because there are many data points. Like in browser fingerprinting, you have user agents, JS feature availability, history, etc. With Libra, you only have an account address and transactions to other anonymous account addresses. One dimension of data like that would be very very hard to trace back to the user, without direct participation from many many merchants. > There's also the wrongthink aspect. Fair, however afaik only 1 of the 28 current companies (Facebook) has this attribute.

hajile 7y ago
The initial business group is invite only. My understanding is that they get to decide who else (if anyone) joins. The real money in banking is in giving good loans. The more personal and immediate your info, the better the loan you can make. Reduced losses lower interest rates or boost profits. Facebook data is the big reason this all make sense for them. Facebook's anonymous claim is simply a lie. Most people will have known accounts at signup. Even if not, the record of their spending habits ties in with their Facebook habits. For the rest, touching known accounts in the network means you know them or have contacted them. Even a very small number of transactions should be enough to identify the user.
icebraining 7y ago
> With Libra, you only have an account address and transactions to other anonymous account addresses. In theory, you can do that. In practice, most people will have a Calibra account, tied to their FB account, and a pinky promise from Zuckerberg that they won't abuse that data.

hajile 7y ago

The initial business group is invite only. My understanding is that they get to decide who else (if anyone) joins. The real money in banking is in giving good loans. The more personal and immediate your info, the better the loan you can make. Reduced losses lower interest rates or boost profits. Facebook data is the big reason this all make sense for them. Facebook's anonymous claim is simply a lie. Most people will have known accounts at signup. Even if not, the record of their spending habits ties in with their Facebook habits. For the rest, touching known accounts in the network means you know them or have contacted them. Even a very small number of transactions should be enough to identify the user.

icebraining 7y ago

> With Libra, you only have an account address and transactions to other anonymous account addresses. In theory, you can do that. In practice, most people will have a Calibra account, tied to their FB account, and a pinky promise from Zuckerberg that they won't abuse that data.