I think FB Libra will be good for our industry. Here is a graphic that illustrates it.
Facebook has been getting new applications over time. It is now a marketplace, a communications platform, digital entertainment platform. It makes perfect sense to have your own stable currency. Facebook can do that quite centralized. I think that’s a good news
I don’t think it has a hope in hell of emerging in the form they’re proposing. Governments won’t allow it. They instantly started screaming the second details emerged.
If you read up on the early days of Paypal they had a very similar idea in spirit, if not execution. It was fully castrated before it got any traction.
I can see your point @gentlemand but, Facebook is not paypal in starting days.
FB is a $545 billion dollar behemoth and that kind of money buys a lot of political power. Also it is used by intelligence agencies to spy on over 2 billion people. So having their fingers in the money of 2 billion people and knowing where and how it is being spent has a lot of intelligence value for the US government. I say they make it look like a fight but support it under the radar