[avoutthere]

> If this succeeds, it will be a data collection tool the likes of which the world has never seen

I'm pretty sure that this type of data collection tool is in use today by the Chinese government.

[swordsmith]

> I'm pretty sure that this type of data collection tool is in use today by the Chinese government.

Yeah US is a bit slow to that party. Alipay and Wechat-pay has roughly a billion users (conservative estimate) in China. It's widely socially accepted.

Makes more sense in the case of China, which never had wide adoption of credit cards. In Libra's case...why should I ever use it instead of sticking with credit cards?

[hobofan]

> In Libra's case...why should I ever use it instead of sticking with credit cards?

Given that both VISA and Mastercard are on board, I assume that you might not have a choice in the long run.

[JaRail]

Rather than straight cash, using it as a more-secure credit card would be enough to sign me up. It would prevent card skimmers, people copying numbers, etc. They could generate one-time card numbers for online purchases at existing merchants. Despite lots of mitigations, VISA/MC still have huge fraud problems. This would give them a new tool to lock things down.

[daodedickinson]

In the US, you already lose your credit card if you speak out politically.

[ethanklitz]

VISA and other payment processors already collect and sell this data.

[tzm]

VISA's transaction data is not the same as Facebook's social data. Combining the two is the point of concern. We have financial regulatory laws for this reason

[daodedickinson]

Combining those two with thousands more is the point of Palantir, and has been since its beginning.

[geggam]

:)

Good thing they dont share the actual data and only share hashes ;)