Re:Facebook Novi: Wallet for Libra Digital Currencies
by Assossa on Tuesday May 26, 2020 @02:40PM
(#23314851)
Depends on your definition of a cryptocurrency. Libra is a blockchain distributed across multiple separate entities. That fits the definition of a cryptocurrency for most people. If your definition of a cryptocurrency requires community control, then no, it's not a cryptocurrency.
Re:Facebook Novi: Wallet for Libra Digital Currencies
by jki275 on Tuesday May 26, 2020 @02:50PM
(#23315008)
It's a distributed ledger "distributed" among a permission group of owners.
The real test is if you can just replace it with a database is it still relevant? In this case, you change nothing by just removing the "blockchain" and replacing it with a database server. Same thing with XRP, it's not distributed consensus in any meaningful way and thus is not a cryptocurrency by any accepted definition.
It's a centralized payment processor owned by a group of banks.
It's no different from any other company store scrip.