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Topic: [2020-04-25] Facebook’s Libra Has Changed... (Read 115 times)

legendary
Activity: 3178
Merit: 1140
#SWGT CERTIK Audited
LOL... I am hearing about Libra after such a long time. Anyway good for Zucker. Despite all the dirt thrown upon him by the Senate committee, he didn't shelved the project. But with the new KYC requirements and such, I am afraid that Libra has hardly anything to do with cryptocurrency. It has now become a digital version of fiat currency, similar to PayPal or Skrill.
Yeah that Libra thing draw too much attention and kind of drama lol
I feel like Zuckerberg is trying to become the head of the world treasury bank with such step  Tongue
sr. member
Activity: 1988
Merit: 453
LOL... I am hearing about Libra after such a long time. Anyway good for Zucker. Despite all the dirt thrown upon him by the Senate committee, he didn't shelved the project. But with the new KYC requirements and such, I am afraid that Libra has hardly anything to do with cryptocurrency. It has now become a digital version of fiat currency, similar to PayPal or Skrill.
legendary
Activity: 3178
Merit: 1140
#SWGT CERTIK Audited
Facebook’s Libra has changed. Having been roundly criticized after its unveiling in June 2019, it has now updated its white paper in a bid to placate regulators and governments.

Most notably, the new look Libra gets rid of any intention to move to a permissionless ledger. It also introduces a range of stablecoins pegged to single national fiat currencies, in addition to the multi-pegged Libra stablecoin itself...
https://cryptonews.com/exclusives/facebook-s-libra-has-changed-but-it-still-might-be-a-win-for-6394.htm

The most important points discussed imo are:
KYC
multi-pegged single stablecoin –> lots of single-peg stablecoins = digital dollar/euro/sterling...
permissionless, open system —> private, permissioned database
Personally I think Libra will attract more people to cryptocurrencies, it will be a serious competitor to stablecoins and may destroy it but for Bitcoin it may affect it a little in the first months but I think the number of adopter will increase once they start discovering the crypto world!
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