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>It’s interesting that, from the perspective of other companies in this consortium (or perhaps just the news media’s interpretation of it), the Libra Foundation
by throwawaylolx 7y ago
>It’s interesting that, from the perspective of other companies in this consortium (or perhaps just the news media’s interpretation of it), the Libra Foundation “is” Facebook.
Isn't this how they decided to market themselves? The first news of it had Facebook plastered all over. Even their whitepaper says:
>Facebook teams played a key role in the creation of the Libra Association and the Libra Blockchain, working with the other Founding Members. While final decision-making authority rests with the association, Facebook is expected to maintain a leadership role through 2019. Facebook created Calibra, a regulated subsidiary, to ensure separation between social and financial data and to build and operate services on its behalf on top of the Libra network.
Stating that "Facebook is expected to maintain a leadership role through 2019" would also lead me to believe that Libra Foundation "is" Facebook for most practical purposes.
- derefr 7y ago“Facebook is expected to maintain a leadership role” in the Consortium, in the sense that—as the news article states—none of the other nominal Founding Member companies are bothering to do any steering of the Foundation. AFAIK Facebook wants to get away from the helm of the Libra Foundation ship and give it over to the rest of the Founding Members ASAP (because that’s better for Libra’s image!), but the Founding Members won’t take Libra seriously until it gains traction (which it won’t until Calibra launches.) Kind of a chicken-and-egg thing.