A Balanced Look at Libra Featured

By Ted Craig June 19, 2019 803

First, a negative thought. In response to a blog post about the new crypto currency, a gadfly responded that Libra is a solution to “Facebook's slowing growth, and it is an excellent distraction to Facebook's various privacy issues.” I thought the same thing. This could be a page out of Mr. Musk’s playbook, offering up an amazing idea to distract from an unpleasant reality. You know, like when a reporter asks why Elon hasn’t met production goals and he responds with “Hey, did I tell you I’m going to Mars?”

On a more positive note, Libra might work. Yes, it doesn’t offer much that isn’t already available, but neither did the iPod. Also, Facebook is already a major e-commerce player in Africa, so this isn’t unchartered territory for the company. Finally, recent talk by some central bankers to include green factors in their monetary decisions makes me think a currency based on ones and zeroes is a good idea.

That said, while I am myself a Libra, guys who offer a utopian vision of balance scare me.

 

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Last modified on Wednesday, 19 June 2019 13:12

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