FaceBook Libra. My thoughts. Part # 03
Commercial Ecosystem
"Libra will promote an ecosystem of products and services created to help people use it in their daily lives."
This information will allow offer to us products at the right time.
With a bit of artificial intelligence it will be very easy to offer air tickets or a place to stay, just after posting that we had planned to travel on our next vacation.
Of course, if I do not have a balance in my wallet, I will never be valuable to the advertisers of this "democratic" ecosystem.
Conclusion
We must accept that without a doubt the Blockchain and Crypto are the present and will be the future. The adoption will increase. Many of us already have knowledge and use cryptography, but the majority of the population can only say that they have heard about "something called Bitcoin".
In contrast to this we have a third of the world population that has been posting years of personal life, family images, intimate photos, etc ... they are experts in "liking", "sharing a publication", "requesting friendship" ...
There are people who have adopted FB as a religion, they can no longer conceive their life without it.
If we place in the hands of this population mass the possibility of acquiring crypto, most of them would reject it because of ignorance or simply because of the natural rejection of change. But, if this same opportunity came from the hand of FB, the adoption would have no precedent.
Then, guaranteed success, FB only needs to proceed with the consummation of his domination plans.
FaceBook Libra. My thoughts. Part # 01
FaceBook Libra. My thoughts. Part # 02
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Hey! @juanmolina! my friend!
Good thoughts! Libra brings the new fight. It comes with everything and reinforced with that crowd behind. Pure monster. No ball peelers. 😂 I mean no penniless people.
The wolf disguised as a sheep
Thanks for sharing (x3) 😁
You pose some very challenging questions Juan.
Here is one that we all might face in the not to distant future.
I left FB over a year ago and don't intend to return. But what happens when all my friends and family are using Libra or it becomes the currency of choice for world wide payments. Will I be forced to disclose my life on FB in order to buy food at my local shop?
Is this a conspiracy by western governments to take power away from countries like Russia and China who are fast becoming economically dominant and have huge gold reserves.
Economists are already saying that the USD could crash in the very near future. Maybe it will replaced by Libra...
Great post @juanmolina. Those were long 3 parts :)
Discussions regarding Libra and Facebook are very intense lately and I personally don't know yet what to think about it.
I'm mostly interested how FED and other central banks will react if they will realize that Libra is a threat for current financial system.
Personally I will not put my trust in Facebook and I don't think I will ever use Libra. However I will surely pay attention to this project as it may turn our financial world up-side-down....
Also check out this post:
https://cointelegraph.com/news/us-senators-grill-facebook-on-privacy-trust-issues-in-libra-hearing
Yours,
Piotr
The good thing is only less young people join.Facebook, it is shocking how high their debts are. It is not the generation that has learned how to save.
The good news for Facebook is they will attract more young people if they play it smart. What is next? The FB-creditcard.
Posted using Partiko Android
Our personal data is an important asset in this age of information. Companies want to monetize our data. Probably the will give us some pennies for using our data.
I guess most of the data is used for advertising and surveillance. In the case of advertising, I think we need new business models that compete with these big companies without compromising our privacy / free speech.
This is a hard challenge for small companies (including steemit Inc.)
Competing with these big companies would result in a confrontation between David and Goliath.
An example of the battle without truce that they are willing to give is in the advertising censorship of crypto that Google and Facebook would deploy, thus overshadowing its competitors.
Maybe you'll do a "Steem" search on Google and you will not get results.
Although I am not interested to try Libra, I think many people will give it a try especially those who are new to cryptocurrency. You are absolutely right about them using our information. Even now, whenever I search for something, a product related to it comes up on my Facebook page advertisement. Chances are they do and will collect more information about us especially financial information once Libra emerges.
Posted using Partiko Android
I think it's too much power concentrated in the same hands.
You may want to look at this:
https://steemit.com/libra/@beatminister/facebooks-libra-the-war-for-world-currency-domination-begins
thanks.
Are you a robot?
No, I'm not a robot. Even though I short out at times... :)