This provides the potential for FB to pivot into banking.
The article points out that the structure of Libra doesn't require a connection between FB profile and wallet. But let's face it. If FB are the inventor and are the benevolent dictator in this open system, it positions them to offer all their users wallets and be the bank that facilitates most transactions.
The revenue potential for FB in that scenario, from transaction fees to deposits (borrowing short and lending long) to wealth management is limitless.
There is an endgame here that has 2 billion customers and is worth trillions.
The article points out that the structure of Libra doesn't require a connection between FB profile and wallet. But let's face it. If FB are the inventor and are the benevolent dictator in this open system, it positions them to offer all their users wallets and be the bank that facilitates most transactions.
The revenue potential for FB in that scenario, from transaction fees to deposits (borrowing short and lending long) to wealth management is limitless.
There is an endgame here that has 2 billion customers and is worth trillions.