Is Libra going to be as Steem ? Via Signal Media
The big news today is that Facebook is launching Libra - its own cryptocurrency. And there are many questions ask why this is the case.
One thing that could happen is that Facebook becomes more as Steemit where its users and community members can earn crypto on reward basis. However, much of today's headlines are pointing out that Facebook is acting in a overambitious way.
More info via Signal Media:
The risks: Facebook is asking its 2.5 billion users — and government regulators — to entrust it with something that's vitally important to people everywhere and a power that governments jealously protect: access to money. And it's doing so at a time when trust in Facebook and other big Silicon Valley companies is at a low ebb.
Whether it's a concern that Big Tech has become too powerful or that it's not doing enough to protect privacy or put a stop to fake news, it's a heck of a time to launch a new techno-utopian project that could give Silicon Valley much more power — including the ability to track not just what people say they like but how they spend their money.
The payoff: If Libra can survive the inevitable political and regulatory storm (and convince its billions of users that they can trust the underlying technology and financial stability of the new cryptocurrency) the upside could be enormous.
That would be a techno-utopian dream come true, but it's a power that governments won't willingly surrender.