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Facebook can have an internal payment system that uses local currencies. There is no reason it needs to create its own currency, except as a power grab. Buildin
by vertex-four 7y ago
Facebook can have an internal payment system that uses local currencies. There is no reason it needs to create its own currency, except as a power grab. Building out a Paypal clone is fine enough.
- lonelappde 7y agoIt's not a power grab, it's an attempt to avoid taxes and regulation, same as all the game companies do with virtual currency.
- repolfx 7y agoHow can it be a power grab, Libra was going to be at least an open system with it's own wallet protocols and market for implementations. A WeChat style system would be totally closed from the ground up.
- vertex-four 7y agoNo, it was going to be open to partners that Facebook picks and chooses. It was very specifically not to be a fully decentralised blockchain, which essentially means it's actually a big permissioned database, which the database owners get to control.