
NYT Reporter: Facebook Seeking $1 Bln in Venture Capital for Crypto Project - daegloe
https://cointelegraph.com/news/nyt-reporter-facebook-seeking-1-bln-in-venture-capital-for-crypto-project/
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apo
There's no need to create a cryptocurrency around this tired old idea. In
fact, doing so makes the entire system worse for users. The last thing Joe or
Jane Sixpack wants to do is manage cryptographic keys. S/he's going to keep
this stuff on a centralized account anyway, so why not build that product
instead?

If Facebook sees a market for a bank account denominated as a floating basket
of currencies, they can do that purely with centralized ledgers.

I just don't see the point of this given the deluge of similar projects
already and the poor match to Facebook's mostly low technical literacy
clientele.

