One of the questions I am being asked by the #G20
presenters is how Libra Org should have been organized and what should be done today.
The other questions are very direct and relate to a train of thinking that the presenters assume is top of mind for attending dignitaries.
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All I can say is the folks that have directed the Libra announcement and the timing just before a
#G20
event directly addressing crypto is tone deaf at minimum.
I will do the best I can but maybe someone at Libra should finally contact me. Or I can guess some of this.Show this thread -
There are many reasons I was asked to give my opinion on Libra. One reason was my invitation to speak about financial matters with the last administration at The Whitehouse in 2014...pic.twitter.com/ZOxOfzf58U
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Why? What are the positives you see?
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Joseph, thanks for asking. The positives are wide for me. The reason for Libra in principle is sound. The negatives are large however: the way it was announced, the timing, the structure of the organization and the lack of mining.
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Qualifies both as payment infrastructure/instrument and securities offering (basket of currencies). So double whammy of legislation with a bunch of competition rules on top. For example, the interchange fee considerations of competition authorities (and concerns) fully apply.
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Simon, precisely! Brilliant insights. This and a lot more. The Libra .org should have consulted with folks that had historical perspective and not just tech/legal move fast and break things minds.
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