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A comment on Diem – A rebrand of Facebook’s Libra. Parent comment

Re:Diem – A rebrand of Facebook’s Libra by davidgerard on Sunday December 06, 2020 @11:23AM (#25324461)
The key to this is the part of the White Paper that notes they'll need to create a digital identity standard.

This is something that's been widely advocated. But imagine a private company creating one, particularly one with Facebook's track record.

Imagine having to use Facebook to access any money - not just Diem Dollars.

(my book on Facebook's Libra/Diem plan goes into this, particularly ch 8 on privacy)

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Re:Diem – A rebrand of Facebook’s Libra by grishka on Sunday December 06, 2020 @12:04PM (#25324768)
> Imagine having to use Facebook to access any money - not just Diems.

I don't think this can happen in practice. For any such system to work at all, the vast majority of the entire society needs to be using it and be satisfied with it, and then there'll always be cash anyway for which there can't be access control enforced by any one entity.

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