It’s going to be interesting.
“Unlike previous stablecoins, Libra will not be issued by a central party. Instead, Facebook has enlisted 27 fellow Silicon Valley titans—among them PayPal, Visa, Spotify, Mastercard, Uber, and eBay—to operate as preliminary “validator nodes” who will each share a transparent copy of a vast ledger of transactions reflecting all the activity on the network.”
That sounds amazingly dystopian. I mean, that’s literally a money built on an oligarchy. By design.
I understand people trust these services ( to the extent they keep using them), but the playing field should be flatter in crypto. Unlike the article’s suggestions that Ripple is toast, I can imagine it’s putting such coins in a position to be very competitive, more open, and not run by the companies above.
That sounds amazingly dystopian. I mean, that’s literally a money built on an oligarchy. By design.
I understand people trust these services ( to the extent they keep using them), but the playing field should be flatter in crypto. Unlike the article’s suggestions that Ripple is toast, I can imagine it’s putting such coins in a position to be very competitive, more open, and not run by the companies above.