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Topic: US senators wants to know why Facebook wants crypto - page 3. (Read 469 times)

hero member
Activity: 1974
Merit: 856
They essentially asked whether it would enable users to have privacy and would make it harder for the government to monitor every personal and financial moves of people in the US and around the world.
Fair questions, even though the government has clearly different concerns than I do. Facebook is not known as a company fighting for decentralization or privacy. I also wonder what they want to achieve with a (decentralized?) cryptocurrency. Facebook could simply implement a centralized payment option in any currency (Dollar, Euro, Facebook fanstasy token, whatever) which probably can achieve the same things for their purposes.

Even if they have a "real" cryptocurrency, they will never give up their control over it in terms of payment processing (mining), privacy and code. To me it seems like Facebook it only following the hype and wants to put in "buzzwords".
full member
Activity: 546
Merit: 100
That is very unproffesional things that US senate that done. They are not a rights to questioned the facebook's decision as long as facebook did not perform activity that violate law in using and with dealing in a cryprto world. The answer in to the senate question is veru simple. Because facebook was already see the worth and value of crypto that can change every people's life.
full member
Activity: 980
Merit: 132
The US Senate banking committee wrote a letter to facebook questioning about the nature and legality of it's cryptocurrency project code named Libra.
https://www.banking.senate.gov/imo/media/doc/5.9.19%20Facebook%20Letter.pdf

They essentially asked whether it would enable users to have privacy and would make it harder for the government to monitor every personal and financial moves of people in the US and around the world.

And what is the meaning of their cryptocurrency, if the user data will be revealed? They could pay the user and in dollars, euros. On the cryptocurrency want to raise their capital all.
sr. member
Activity: 1848
Merit: 298
Buzz App - Spin wheel, farm rewards
The US Senate banking committee wrote a letter to facebook questioning about the nature and legality of it's cryptocurrency project code named Libra.
https://www.banking.senate.gov/imo/media/doc/5.9.19%20Facebook%20Letter.pdf

They essentially asked whether it would enable users to have privacy and would make it harder for the government to monitor every personal and financial moves of people in the US and around the world.
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