Judging by this story on Facebook’s “content moderation”—which adds to the pioneering work by @ubiquity75 and @TarletonG—Facebook’s expansion into financial services should be smooth, since it’s such an easy thing to manage, especially across borders. https://www.theverge.com/2019/6/19/18681845/facebook-moderator-interviews-video-trauma-ptsd-cognizant-tampa …
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How was the meeting? "Look, we figured out how to moderate and amplify content while monetizing attention across two billion people. Can anyone think of something relaxing to do while we pop the champagne?" "Let's create a parallel currency for easy cross-border transactions!"
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Anyway, Facebook folks should read up on why so many governments fight inflation so hard, sometimes at terrible costs otherwise. (I'm sure others will point out the many issues about money laundering, fraud, terrorism financing, tax laws, etc.)
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move fast and break things zeynep move fast and break things!
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this is an
@TheOnion piece right?
Thanks. Twitter will use this to make your timeline better. UndoUndo
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I am increasingly convinced that the issue is the size of the network and the impossibility of managing the destructive result. It is ridiculous that FB is the self-appointed responsible party to maintain a vast social commons, so that it may profit from the user data.
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FB is not able to handle this kind of vast responsibility. No one is, or should be. It is best to leave it to communities to manage their society, themselves. And this principle applies to money and other financial infrastructure as well.
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from botnets to launder nets... I can see the criminals setting up dummy accounts to grow and mature so that when Zuckerbucks happen, easier to move ($100-rand(10)) through a thousand accounts, than $95k through one account. But I am sure the incentives are there to stop this,not
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Crazy! My husband said more or less the same thing this morning.
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