Let’s stop the Libra FUD18

Facebook announced the launch of Libra just a couple of hours ago. And it’s very different from what was anticipated. The code is open source, transactions will be pseudo-anonymous and even though it is a permissioned blockchain to start, it is set to transition to permissionless over time. What’s the most important, though, is that Facebook will play very little role in governance. A new Facebook subsidiary, Calibri, will be one of the 100 validating nodes and won’t have more than 1% of the voting power.

So unless you use Facebook’s custodial wallet, and instead use one of the non-custodial wallets that will inevitably be developed, Facebook won’t know who you are or who you are transacting with. And that’s very similar to how other public cryptocurrencies currently function.

Original source
https://www.theblockcrypto.com/2019/06/18/lets-stop-the-libra-fud/?utm_source=rss&utm_medium=rss&utm_campaign=default

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