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What are your thoughts on the Facebook Libra project?

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Im concerned. Short term sounds like a stable Ripple. Long term possibilities scream global bank/financial servicer. If it’s successful, they will be the infrastructure to the global financial system. That’s raises a lot of red flags

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It is going to kickstart regulation conversations/lawsuits and it is already happening. I am interested in how rulings on Libra may be applied with a lack of foresight on how they may apply to more decentralized cryptos. I certainly need to read more. I am also curious where Libra will go that other stablecoins have not tried or successfully infiltrated (use case-wise)

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I think its success will be based on how decentralized they can actually get it to be. If it grows out of "just a FB thing" it might have a chance and could be difficult to shut down. The tech industry vs. government showdown is happening for sure.

If FB has social data AND financial data, it would be unstoppable. I appreciate the risk taking and the advancement of technology from a company that doesn't necessarily have to make this jump.

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