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I wonder what would have happened if Facebook had simply announced Libra and released it a week later. Would the legislative backlash have been stronger? Or wou
by twright 7y ago
I wonder what would have happened if Facebook had simply announced Libra and released it a week later. Would the legislative backlash have been stronger? Or would the quick release bring to light the (always preached about but not always demonstrable) advantages of cryptocurrencies.
I'm not (yet) doubting that Libra will eventually be released, but I can see it being shutdown before or sometime after release.
- FillardMillmore 7y agoI think the legislative backlash would've been much stronger, and I have nothing to back this up so take it with a grain of salt - just my opinion. Considering the many negative press stories about Facebook concerning things like privacy rights, I don't think Facebook would take a risk like that to begin with, but if they did, the US government would likely want to make an example out of them to deter future companies eager to act first and ask for permission later. Especially when it comes to something like this that could very well disrupt global currencies. There would be many ensuing battles of litigation and I would imagine the cost for Facebook, if they truly held steadfast in support of Libra, would be quite tremendous.