Re:France and Germany Agree to Block Facebook's Libra
by justinzollars on Saturday September 14, 2019 @12:31PM
(#20971851)
I don't like facebook either, I don't use it but I do like this idea. Libra is an innovation. A cryptocurrency backed by currencies (and credit markets) is very exciting.
Re:France and Germany Agree to Block Facebook's Libra
by short_sells_poo on Saturday September 14, 2019 @12:41PM
(#20971933)
It is an interesting idea, but we cannot look at it in vacuum. Does the value of an idea transcend the context in which it is born and where it is executed? Perhaps, but Facebook has shown time and time again that it cannot be trusted to do the right thing, it will systematically choose profit. Sometimes those two align, but this is not a foundation to build the future of our society on.
I'm aware that I'm very biased here but the tragedy that is Facebook upsets me all the more for what it could've been. Instead of being a boon to society, they've become the worst form of surveillance capitalism.
I wouldn't trust facebook with handling my garden, let alone a monetary system. They have proven time and time again that they are reckless if not outright malicious and outdo even some incumbent bad guys in the sheer underhanded disregard for anything but their own bottom line.