Facebook’s Libra Crypto Is Basically Just World of Warcraft Gold
Posted by freeamfva on April 26th, 2022
Facebook\'s Libra Crypto Is Basically Just World of Warcraft Gold
While many were quick to cheer Facebook\'s foray into digital currency, mainly due to the positive impact on mainstream interest, this enthusiasm is fading as the reality of Facebook\'s plans have come under scrutiny.
Delving deeper into Coin Center\'s research, it becomes apparent that the fundamental missions of Bitcoin and Libra do not align.
If Bitcoin exists to demolish the need for centralized entities, Libra exists to improve upon the current financial establishment, as the following excerpt from Peter Van Valkenburgh\'s piece demonstrates:It has not just been blockchain experts who have immediately called out Facebook for marketing Libra as a cryptocurrency.
Even talking heads like CNBC\'s Joe Kernen, who have made it clear they are not all that knowledgeable on the subject of Bitcoin, have been able to immediately see that Facebook\'s project is not technically a cryptocurrency in the sense that most people use the term.The final issue that Coin Center addresses is regulation. The research finds that in attempting to keep Libra on the right side of lawmakers, Facebook may find themselves overly burdened.
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Joined: June 11th, 2021
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