Lol remember Libra?pic.twitter.com/enoHvEZifB
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"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)
The current CEO is Stuart Levey, who bigged up US dollar power like no other Treasury official before or after. His hiring was a political signal that something like this was coming.
And named it after a South Vietnam dictator to boot
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