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by davidgerard
2423 days ago
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So far as I can tell, (a) Calibra will be a "custodial wallet", i.e. it'll hold the Libra tokens and present to the user a bit like PayPal; (b) they're talking up a Libra-per-currency, rather than the synthetic basket; (c) they're actively at work developing Calibra, in some sense. To me, it's increasingly looking like they're heading for Calibra as PayPal-but-it's-Facebook. This is a more sane and comprehensible business idea, at least. |
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Basically just a layer of abstraction like in-game currency in virtual worlds, only this one has some 2.2b 'players' so the in-world PayPal is one hell of an easy way to transfer money?
That's much less sexy from a technological and social standpoint, but it might just be the simplest way to both reach a solution and seduce just enough blockchain lovers for the 'buzz' (best fueled by Controvery®).
When you think about it, people use items as secondary currency to exchange real-world money since forever and a day. E.g casino chips (physical), in-game assets ("virtual" but really we just mean software i.e. codified text, like we'd write score cards in tabletop RPG, or... computer punched cards). Colibra, fundamentally, would be just that...
So much ado about nothing if it turns out to be such a custodial abstraction. Now I expect Colibra lootboxes and gift shops in WhatsApp and Instagram! — once you've seen people spend hundreds on pixels in games, cosmetic shaders to embellish their avatar, you know there's no limit to human commerce. Probably Facebook's endgame with Libra if you ask me.