Facebook’s Libra Suffers Major Loss as MasterCard, Visa, eBay and Stripe Withdraw
Last week it was big news when PayPal withdraw from being one of the main founding members of the Libra Group. Now four other MAJOR partners (Visa, Stripe, eBay and Mastercard) have followed suit. These exits - in addition to the scrutiny the project is receiving from lawmakers … is leaving the future of the Libra Project fairly uncertain. So is this massive blow to Libra a good, or BAD thing for the cryptosphere?
Be sure to let me know what you think in the comments below! Is press of this kind good or bad for the world of crypto?
XO, Lea
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There's already a project/clone 'OpenLibra' which will be pegged 1:1 with Libra (assuming it ever happens), to give users transparency, immutability etc.
That's magnificent news!!
I have a feeling that very soon these large companies will start pushing out their own version of a crypto. Many lessons were learned in the folly of facebook.
@tipu curate 3
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aww thank you!!
Not sure how it will look on its face, as far as people's perception of crypto, but it's definitely a win for the world in general.
aww Beth good to see you around here!! I hope you've been doing well. :)
Super busy but ok! I am homeschooling now so the school year is always a bit chaotic. I hope to get back into posting more regularly though! How have you been?
All media coverage is good media coverage! Granted, you gotta hope there's more good than bad..
Thank goodness, hope the entire Libra project falls over flat. It is the LAST thing the world of crypto needs, greedy Facebook just trying to steal their piece of the crypto pie just like they steal your personal information, well they can't have it!
Libra+facebook is bad to our community
What another awesome video. Thank you for sharing this and your highly regarded opinion. Seen you come a way here. Amazing! I think most people haven't really got what crypto is about. A stable coin and they planned on using whatsapp in india at the beginning? Then india banned crypto. They were aiming at remittance. Makes me laugh living in the cradle of financial institutions. A lot of users on steem even don't fully understand why its more about true values than monetary. Products and services where micro economic groups decide utility is the way. We are on the brick of extinction. This was allowed! It being about value, surely about trust, many already established cryptos aren't open source, have their form of centralization and the question really is, if they should even be listed on the d-economy. From the valley here, i sort of feel that historically seen, we were based on liberty here when people became witnesses, when we grew and turned out so awesome from the start and until recently no one ever thought that we would make it that far, possibly even build what many users have build here because they believed in it. The future of these layers really relies on eliminating these corporate middle men, because they would attain too much power. EOS nodes are too expensive and they have a class hierarchy that they will have to solve at some point. A lot of this has already played out here and solutions are in place. These front ends already running on a side chain have as much potential as SMT's. We have become the greatest social experiment in economics ever already and are proof of concept. Its a matter of time until we will be flooded!