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Friday, June 21, 2019

MIT Tech Review Chain Letter on Facebook and Libra

MIT's Blockchain newsletter takes a good look at Facebook and their activity with the Blockchain Libra.   Also a pointer to Facebook's 29-page paper on the topic.  Reading now.  More is sure to follow.   Again I recommend signing up for this newsletter to follow the rapidly evolving area.

MIT Technology Review
Chain Letter 

Blockchains, cryptocurrencies, and why they matter
06.20: Move fast and break things

Welcome to Chain Letter! Great to have you. Today we'll be taking a good long look at Facebook's much-hyped foray into the digital currency realm. 

We have lots of questions about Facebook’s new digital currency. What did Facebook just do? Officially, it launched a test network for its own digital currency, called Libra coin. But nobody—not even Facebook—seems to be sure what that fully means.

In a new white paper (PDF) describing the project, Facebook tells us that the goal is to build a “financial infrastructure that can foster innovation, lower barriers to entry, and improve access to financial services.” Beyond that, however, the situation is quite unsettled.  .... "

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