
Facebook's Libra was dead as of July 2019 - davidgerard
https://davidgerard.co.uk/blockchain/2020/07/20/facebooks-libra-was-dead-as-of-july-2019/
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bengtan
I think Facebook (and maybe MZ in particular) was hubristic from the start.
They have a deep trust deficit and they just don't (or don't want to) realise
it.

If Libra was from anyone other than Facebook, or if it was from a proper AND
neutral (ie. not dominated by Facebook) consortium of tech companies and
organisations, it might have had a better chance.

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greenyoda
> Nobody trusted Facebook as far as they could throw it — the company had just
> been fined by the FCC again, for violating the consent decree attached to
> their 2011 FCC fine.

That would be the FTC (Federal Trade Commission), not the FCC.

[https://www.ftc.gov/news-events/press-
releases/2011/11/faceb...](https://www.ftc.gov/news-events/press-
releases/2011/11/facebook-settles-ftc-charges-it-deceived-consumers-failing-
keep)

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davidgerard
aaaaaa! fixing!

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Nextgrid
> tl;dr: as soon as a blockchain scheme gets in front of adults — it’s dead.

Not to disagree with the rest of the article, but this particular claim is
unfortunately far from true. There are dozens (hundreds?) of startups claiming
to reinvent something with blockchain and get millions thrown at them despite
anyone with a basic understanding of what blockchain is can tell that either
their problem is unsolvable with a technological solution (blockchain or not)
or that blockchain doesn't bring anything to the table compared to a database.

~~~
FullyFunctional
Simple fact: not everyone with access to millions act responsibly (~ "adult").
It is especially easy when you aren't investing your own money and the
consequences for you are somewhat immaterial.

