Libra Consortium by Facebook | Blockchain | Cryptocurrency | GlobalCoin
As recently reported by The Wall Street Journal, Facebook’s cryptocurrency will be governed by a consortium of firms known as the Libra Association, which includes the likes of Visa, Mastercard, and PayPal.
Such a powerful group of payment companies could centralize digital currencies for a long time to come. Much like how the Lightning Network could profit from Bitcoin, making Silicon Valley the dominant force of how blockchain transactions evolve in the real world.
Such a Consortium could appeal to brands, merchants and payment networks who rush to integrate to the leading blockchain partnerships in the world. With over 2 billion consumers, the Libra Network will definitely be among them.
Facebook is looking to have 100 members in the governing association. One consortium to rule them all. This is how corporations and financial tech can disrupt banking and how Facebook can become way too powerful, something it’s already been accused of for years.
With Microsoft, Google and Amazon “retreating to the cloud”, Facebook’s belief that it still has the consumer means the post-advertising era of Facebook might be starting on June 18th, 2019.
Facebook’s ‘GlobalCoin’ will have its own ATMs and be integrated eventually better than ApplePay and could over time kill Bitcoin, forever.
Facebook has already acquired the blockchain startup Chainspace, with a keen eye on its proprietary consensus algorithm. Libra’s Consortium will become very powerful and it won’t be broken up, because it will rule the money of the future.
Libra is not a currency or a crypto, it’s a blockchain stablecoin Consortium that will quickly become more powerful than the banks. It will make all cryptocurrencies but Bitcoin obsolete eventually. At first, it will stimulate the token economy leading to much enthusiasm, optimism and digital transformation FinTech hype
In May of this year, Facebook registered Libra Networks LLC in Geneva, Switzerland, where it is working on blockchain developments. In June, we’ll know a whole lot more about this mysterious consortium. It will take several years however before the prophecy in this article unfolds.
Such a powerful group of payment companies could centralize digital currencies for a long time to come. Much like how the Lightning Network could profit from Bitcoin, making Silicon Valley the dominant force of how blockchain transactions evolve in the real world.
Such a Consortium could appeal to brands, merchants and payment networks who rush to integrate to the leading blockchain partnerships in the world. With over 2 billion consumers, the Libra Network will definitely be among them.
Facebook is looking to have 100 members in the governing association. One consortium to rule them all. This is how corporations and financial tech can disrupt banking and how Facebook can become way too powerful, something it’s already been accused of for years.
With Microsoft, Google and Amazon “retreating to the cloud”, Facebook’s belief that it still has the consumer means the post-advertising era of Facebook might be starting on June 18th, 2019.
Facebook’s ‘GlobalCoin’ will have its own ATMs and be integrated eventually better than ApplePay and could over time kill Bitcoin, forever.
Facebook has already acquired the blockchain startup Chainspace, with a keen eye on its proprietary consensus algorithm. Libra’s Consortium will become very powerful and it won’t be broken up, because it will rule the money of the future.
Libra is not a currency or a crypto, it’s a blockchain stablecoin Consortium that will quickly become more powerful than the banks. It will make all cryptocurrencies but Bitcoin obsolete eventually. At first, it will stimulate the token economy leading to much enthusiasm, optimism and digital transformation FinTech hype
In May of this year, Facebook registered Libra Networks LLC in Geneva, Switzerland, where it is working on blockchain developments. In June, we’ll know a whole lot more about this mysterious consortium. It will take several years however before the prophecy in this article unfolds.
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