Antonopoulos: Facebook’s Libra will challenge the Central banks

The discussion about the introduction of Facebook’s Stablecoin, Libra, are already ongoing for some time. The introduction of Libra, however, has triggered a race in which Nations around the world are planning their own digital Central Bank currencies.

In the latest edition of the podcast Let’s Talk Bitcoin“ with advocates for informed Andreas M. Antonopoulos, a prominent Bitcoin, his thoughts on the Whitepaper of Libra, to the technology and the prospect of their introduction in the future. Antonopoulos, the technology behind Libra commented, and said that Libra can provide in terms of its technology, great benefits. He also added that the people were informed of the project good about what you are doing in the area of the Blockchain. Further Antonopoulos, stated:

You have some of the other currencies of the best features of the best Crypto, the state of the art technologies that are out there, and you have developed a little more.

According to the Bitcoin advocates of Facebook, which is the idea behind Libra was doing, the people said, curious about the Coin “it is idealistic, progressive, focused and decentralized nature has brought people to consider”, Antonopoulos. When he received it, as the entrance of Libra will affect the financial-banking sector, in a way, he noted that the Central banks of Facebook of hard, and replied to the “How”. Since Facebook has access to about 2 billion users and as they had information about their preferences and behavior patterns, could you respond accordingly to the needs of the users. He also said that you could take into account the needs of the users accordingly.

As he spoke more about the introduction of the stable coins, said Antonopoulos, that Libra in China would be introduced not to be introduced with safety, with Libra, nevertheless, in countries that are home to a large number of people without a Bank account. At the conclusion of the conversation, he said:

We are now entered in the Era of the cold currency wars. The world is on the verge of, to leave an iron curtain of currencies fall, as we have never seen before. We will see currencies a basic division between the East and the West in the development of state-based currencies corporate currencies and the open Crypto.

Zuckerberg goes on confrontation

Recently, Mark Zuckerberg spoke at the Silicon Slopes Tech Summit 2020 in Salt Lake City and also gave an Outlook for the year 2020. The CEO said the company will stand for his principles, regardless of whether or not it upset a lot of people “” or not. Specifically, Zuckerberg spoke about strong encryption, and freedom of expression as a core piece of the new approach. Both areas are hot been discussed, where Facebook has fallen in December because of its rules for political advertising seriously in the criticism.

With the announcement of Zuckerberg brings in a proverbial predicament. Thus, the Libra receives support from government sources, it must be increasingly transparent. Without transparency is likely to be only a few governments will approve the use of the coin. The transparency on the platform, however, requires that the CEO restricts the secure encryption and freedom of speech. Both new views on the purpose of Facebook is in contradiction to sugar mountain.

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