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RE: US draft bill seeks to ban big tech from taking over economy with private cryptocurrencies
It's just interesting to me, as somebody who has been following bitcoin and cryptos for years before most others had even heard of it, to see the mainstream finally doing something about (or pretending to do something about) cryptos. For years, they have pretended it didn't exist, and then for the past few years, they've been acknowledging them, but claiming they're not significant. Now they're saying they need to draft bills to protect the banking system. It's interesting to me as a monetary theorist, and it does mean something to those who follow these things.
Zuckerburg, the thief, as it stands right now is at the mercy of governments to allow him to implement a payment system on his platform that is in a non-traditional currency, if he succeeds it would be reverse, governments would be at the mercy of Zuckerburg's monetary system, how it is implemented, how it performs, stakeholders, rights, etc., with enough control he could be setting the demands of a new banking system. No one yet has had the capacity to be a viable threat to the current system, Zuckerburg with his "supposed" billions of followers (it would be interesting to know just how many of those people are dead as I know of two of them) In the US he hasn't been able to get much of a foot in the door that's why he's knocking on doors in Europe which is much more open to change, which is much more in trouble with their current banking system, which could see this as a viable opportunity to hedge a bet on success whereas FB followers would be using a foreign European exchange (fee profits) (products, services and jobs to support the system) to trade his currency for products offered in exchange for clicking on advertisements, earning currency and exchanging for products. In essence he could make and break entities, he controls who gets to advertise, he could control the vendors, shippers, etc., he could become his own version of Amazon if he so pleased. I am not saying his intent is to do that but when someone has the capacity heads start to turn.