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Facebook unveils global digital coin called Libra [48348]

 
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ggrobot
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PostPosted: Tue Jun 18, 2019 5:15 pm    Post subject: Facebook unveils global digital coin called Libra [48348] Reply with quote

ently by Libra Association members, runs a blockchain calculation. Two-thirds of the nodes must come to consensus that the transaction is legitimate for it to be executed and written to the blockchain. Facebook's Calibra will implement Know Your Customer rules in the sign-up process to prevent fraud, requiring a govern

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Source: GGMania headlines
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NyaR
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PostPosted: Tue Jun 18, 2019 5:56 pm    Post subject: Reply with quote

They're going to use this currency to further their censorship efforts.
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doodah
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PostPosted: Tue Jun 18, 2019 8:53 pm    Post subject: Reply with quote

And people will bother with THIS currency... why? Because they trust Facebook?
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gx-x
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PostPosted: Wed Jun 19, 2019 3:17 pm    Post subject: Reply with quote

doodah wrote:
And people will bother with THIS currency... why? Because they trust Facebook?


I doubt it, but it depends.
Crypto is convenient for a lot of things. One of those things is money transfer. Exchange rates are generally much lower than what banks would take (depending on exchange and type of withdrawal). So if this coin get's dedicated exchange that will pay out fiat in most places of the world, and the process is fast and easy, it could have uses. For instance, BTC is anything but easy and fast, hence ETH was made, along with some others.
Lately these exchanges charge more and more for transfers and withdrawals and banks are aware of them and started raising fees towards them, some changes are inevitable to this process, regardless of facebook coin.
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