This doesn't seem right. MobileCoin from Signal is going to be a centralized Stellar network, no? I'd imagine FaceCoin will look similarly centralized.
Problem is, it can’t induce a speculative bubble (being a stablecoin), so 99% of the reason to be excited over a cryptocurrency no longer exists with this.
Instead they're creating their own token.
That tells us all we need to know about whether it will be open, distributed or independent.
Seriously, a Facebook coin now??? After all the recent Facebook's privacy failures and whatnot. I understand they're trying to build a similar ecosystem to what WeChat has in China, but really.