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Facebook leads consortium creating Libra digital currency, launches Calibra digital wallet

#1
Jun 18, 2:27 AM
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Facebook is unveiling an ambitious plan to create a new digital currency and financial system to transform the way money moves around the world, and not just on its own apps.

It’s leading a consortium to create an open-source digital currency called Libra, set to launch in the first half of next year. The goal is for developers to create services for consumers to send money around the world easily and for free — with the same convenience as sending a photo or a message.

The Libra currency will not be run by Facebook, but rather by a nonprofit association supported by a range of companies and organizations. But Facebook does have a plan to profit from it with a new subsidiary, Calibra, which is building a digital wallet of the same name for storing and exchanging the currency.

https://www.cnbc.com/2019/06/17/facebook-announces-libra-digital-currency-calibra-digital-wallet.html

well at least its open source, digital is the future anyway so one step closer to a cashless society
 
#2
Jun 18, 6:42 AM

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It's all about tracking and analyzing the customer directly. Oh and when I read "Calibra", I was reminded of "Calibre", an open-source software for managing e-books, lol

Digital being the future? I'm looking at the dark side. What happened in South America will happen more often and in other regions as well. Then have fun with the so convenient "futuristic" "cashless society".
 
#3
Jun 18, 7:41 AM

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Just what the world doesn't need, a Facebook cyrptocurrency, and you wonder why big tech needs regulation so badly, this is an example of how big tech can become too powerful. Cash is king an should stay king for the good of the world.


 
#4
Jun 18, 10:18 AM
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Noboru said:
It's all about tracking and analyzing the customer directly. Oh and when I read "Calibra", I was reminded of "Calibre", an open-source software for managing e-books, lol

Digital being the future? I'm looking at the dark side. What happened in South America will happen more often and in other regions as well. Then have fun with the so convenient "futuristic" "cashless society".


facebook says this "Aside from limited cases, Calibra will not share account information or financial data with Facebook or any third party without customer consent," Facebook says. "This means Calibra customers’ account information and financial data will not be used to improve ad targeting on the Facebook family of products." https://arstechnica.com/tech-policy/2019/06/facebook-launches-cryptocurrency-with-visa-mastercard-uber-and-others/

but yep its all about tracking as they say "follow the money" lol https://en.wikipedia.org/wiki/Follow_the_money but in this case instead of corruption is to exploit customers more by brainwashing them with targeted ads more so inb4 google do their own digital currency

you can say that but nuclear fusion and EMP proof power grids will become available when the time comes imo like 2 or more decades from now

Hoppy said:
Just what the world doesn't need, a Facebook cyrptocurrency, and you wonder why big tech needs regulation so badly, this is an example of how big tech can become too powerful. Cash is king an should stay king for the good of the world.


its not actually a cryptocurrency like there is mining involve that needs huge amount of energy and worsen global warming like Bitcoin does as far as i know
 
#5
Jun 18, 1:24 PM

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Hoppy said:
Just what the world doesn't need, a Facebook cyrptocurrency, and you wonder why big tech needs regulation so badly, this is an example of how big tech can become too powerful. Cash is king an should stay king for the good of the world.
This exactly. But don't worry, maybe there will be some lawsuit

deg said:
facebook says this "Aside from limited cases[...]"
Stopped reading here actually, I read at least the whole posting, because it sounds like double-speak.

deg said:
you can say that but nuclear fusion and EMP proof power grids will become available when the time comes imo like 2 or more decades from now
Pfft, with that little care that countries put into their infrastructure, you don't even need fancy electro-magnetic something stuff. A plain normal storm or in our case, just too much load with too little capacities will be enough to get back to the Dark Ages in no time. But the ones in power don't give a damn about it, otherwise, we wouldn't have retarded politics pushing for electronic cars and shouldering a coal exit on top of a nuclear exit while not making sure first to have both the capacities with new power plants secured and the means to transport them, first.
 
#6
Jun 18, 3:45 PM

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this should have just been called facebook makes another step to control your private life
 
#7
Jun 18, 6:42 PM
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ye i can see the concern since Facebook is known to be liars and cannot be trusted

its just that i saw open source at least so if things gets bad then a fork will be created by hopefully the open source community and improve upon this technology

since honestly a 1 worldwide digital currency can be disruptive and may make economic inclusive growth better
 
#8
Jun 18, 7:23 PM

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This is horrible. They really want it to be a One Government world with this one world currency. Down with the elites. Time for everyone to wake up.
 
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