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by bouncycastle
2559 days ago
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It is founded by Facebook, but they will only have a %1 stake in it as far as I understand. Ultimately, it will be still controlled by existing governments, as they plan to back it by government issued currencies & the organisations that participate still have to respect government regulations. Besides, Visa & Mastercard already has this kind of dominance, except Libra makes it more transparent. So really, there's nothing to fear, at least if you already accept and abide by the existing financial system... Btw, Libra is not a blockchain, but a distributed database. Think of it as Visa, Mastercard and friends coming together to create one database that they can update individually yet have the changes available to everyone while maintaining data integrity. Much better than the existing "black box" system, the new system is easier to audit. |
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