Altcoins Talks - Cryptocurrency Forum
Learning & News => News related to Crypto => Topic started by: DeKingCrypto on July 23, 2019, 10:53:59 AM
-
I with all these threats against Facebook and all the allegations, do you think Facebook Libra will be success?
See what British MP said here: https://www.cryptoinformers.info/news/201-british-mp-expresses-worry-want-to-probe-facebooks-libra
-
About the appearance of the upcoming coin Libra is now worried in almost all large countries. The government and congressmen of the United States openly called on Facebook to suspend their project and even introduced a bill actually prohibiting the appearance of this coin. The finance ministers of the G-7 ha countries at the recent summit in France also took the position of banning this coin from themselves. It seems that Libra may never appear.
-
At this point it is probably mostly posturing to get Facebook to give various government bodies more power. But ultimately, they probably won't hinder it's technological push too much because in doing so they may harm the long term ecosystem and give more favor to other countries if they stifle innovation. So I wouldn't worry about this particular point too much.
-
The Libra project has big ambitions and claims the place of an international payment system, so it is not surprising that most politicians and representatives of financial structures are concerned about its appearance. Moreover, it is necessary to take into account that society has always been wary of everything new, so Libra will not appear soon in a fully operational form.
-
Yeah, agreed on your point, but i still believe that Libra project will definitely surmount all these huddles posed these nations, though it might be delayed for some time. The fear of Libra coin eliminating several notable fiat currencies has been the brain behind the fight to stop the project but it may not go to the direction of their thoughts.
-
The British MP has some valid concerns given the history of facebook in dealing with personal data of its users unethically.
This is also state in the article:
His is also concerned whether Facebook have the ability to keep the personal financial details of billions of users safe considering the breach of its users privacy in previous years.
The negative feedbacks or concerns from government officials also has some positive impact to crypto users who care about their privacy.
-
I very much doubt that the Libra coin will generally appear next year, as planned earlier. G-7 countries sharply opposed its appearance, and this is very serious. Perhaps, considering this, Visa is already leaving the partnership with this Facebook project. However, it will largely depend on how events will develop further.
-
I can understand the concern of the governments of different countries in connection with the appearance of Libra, but it would be better if they were more concerned about the development of innovative technologies, solved problems and did not create problems. Bureaucracy greatly inhibits the development of any technology, so you just have to wait until Libra is studied and adopted.
-
Yes, and i think Libra project may be a further development to many people in the world especially the developing nations. Imagine the Libra coin banking the unbanked in various parts of the world, it will be amazing if Libra project is launch to help give more people easy access to funds.