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Facebook's Libra was dead as of July 2019

• Nextgrid 6y ago
  > tl;dr: as soon as a blockchain scheme gets in front of adults — it’s dead. Not to disagree with the rest of the article, but this particular claim is unfortunately far from true. There are dozens (hundreds?) of startups claiming to reinvent something with blockchain and get millions thrown at them despite anyone with a basic understanding of what blockchain is can tell that either their problem is unsolvable with a technological solution (blockchain or not) or that blockchain doesn't bring anything to the table compared to a database.
  • davidgerard 6y ago
    sadly true, but at least the House and Senate reflected an exacting standard of adults ;-)
  • FullyFunctional 6y ago
    Simple fact: not everyone with access to millions act responsibly (~ "adult"). It is especially easy when you aren't investing your own money and the consequences for you are somewhat immaterial.
  • kmckiern 6y ago
    maybe this was the case in 2017...
• greenyoda 6y ago
  > Nobody trusted Facebook as far as they could throw it — the company had just been fined by the FCC again, for violating the consent decree attached to their 2011 FCC fine. That would be the FTC (Federal Trade Commission), not the FCC. https://www.ftc.gov/news-events/press-releases/2011/11/facebook-settles-ftc-charges-it-deceived-consumers-failing-keep https://www.ftc.gov/news-events/press-releases/2011/11/faceb...
  • davidgerard 6y ago
    aaaaaa! fixing!
• bengtan 6y ago
  I think Facebook (and maybe MZ in particular) was hubristic from the start. They have a deep trust deficit and they just don't (or don't want to) realise it. If Libra was from anyone other than Facebook, or if it was from a proper AND neutral (ie. not dominated by Facebook) consortium of tech companies and organisations, it might have had a better chance.