Lol remember Libra?pic.twitter.com/enoHvEZifB
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I guess now they renamed Libra to Diem and it's going to be pegged to the US dollar? The masterminds at Facebook have reinvented the Cuban Convertible Pesohttps://www.cnbc.com/2021/04/20/facebook-backed-diem-aims-to-launch-digital-currency-pilot-in-2021.html …
"Diem’s technology has “changed dramatically over the past year and a half from a naive blockchain to a very sophisticated blockchain” said Ran Goldi, CEO of First Digital Assets Group." Any more sophistication and it will rival the Chuck-E-Cheese token for financial complexity
How is a centralized cryptocurrency pegged to the dollar differs in any way from a "transactions" table in the Facebook database is a question for larger minds than mine
Facebook's stated aim was to create a currency to rival the dollar, and I guess step 1 of that is to tether it to the dollar, so the dollar can't escape.
A more serious question is why Zuckerberg's grandiose projects continue to get taken so seriously. Curing all disease, replacing the dollar, running-not-running for President, all these received massive amounts of press coverage unaffected by the many previous failures.
The Facebook Oversight Board should be seen through the lens of this serial grandiosity. The company is cosplaying a state—it wants its own currency, its own Supreme Court, its own Maximum Leader. (To their credit Facebook has so far stayed out of the plutocracy space race)
besides being fb property it's actually pretty close to what I would design if I made a cryptocurrency (centralized and backed), if it enables high scale low fee micro transactions I'm on board
Eh, they probably got multiple times bonuses for it and a few promotions out of it.
Been in the valley for a while. Gotta tell you, those are the favorites. Shhh, Bob's telling NeXT stories. You gotta hear this.
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