But how is it possible for a social network like Facebook to launch a kind of “digital currency” in June 2019? Does Mark Zuckerberg become a banker? The further I go, and the questions I have in my head increase , I have the chills to think that Facebook, imagine I was one of the first users to register in 2006 , from a “tool” that was used for petitions or communications between university students becomes today year 2019 a virtual coin. Well, yes…
Bitcoin,Libra, Ethereum are so special or rather what is the lowest common denominator? Maybe create a parallel market for banks??? Some talk about a monopoly of hi-tech while others a way to escape from tax. Libra was created for those 2 billion people who do not have access to the traditional banking system or do not have a bank account, but more than half have a smartphone connected to the internet. And here Facebook’s digital “pear” falls from the tree ensuring users a faster and cheaper payment/sending money system, to emphasize the stability of the cryptocurrency guaranteed by a low volatility asset, such as a government security. Who makes Libra unique? Facebook, Instagram and Whatsapp I don’t need to introduce these brands, and I think each of us already has an idea of the extent of the phenomenon.
Libra is based on a blockchain like its cousin Bitcoin but unlike the relative who still represents a dark and incomprehensible market; Zuckerberg’s little creature is linked to social networks, so something affirmed over the years and for many a system “tested and reliable.”
Other hypotheses about Libra’s exit come to mind:
- to be long-term pioneer is important look at Instagram acquisition in 2012 , the most used social network 2. reduce the costs of bank system financial transactions and various money transfers (money gram,western union etc…) 3. Anticipate the big tech like Amazon,Google,Microsoft,Apple,Huawei 4. create an addiction on social networks where Facebook would benefit from higher revenue from advertising from companies that would see the advent of this cryptocurrency as an opportunity
Start thinking about how society will evolve and how addict we will be to these tech giants.