What sort of drooling moron is going to give Mark freaking Zuckerberg control over his money, however virtual?
The much-hyped launch of Facebook’s cryptocurrency Libra has met a brick wall of institutional skepticism as politicians and regulators take one look at CEO Mark Zuckerberg’s privacy record and raise a collective eyebrow.
Calibra, the new Facebook subsidiary which will operate Libra, has made no secret of its ambitions to branch out from funds transfer into credit, bill payments and other more sophisticated products. Such consolidation of power in the hands of a company that already has a monopoly on online social interaction for its 2-billion-plus users – and a terrible record of protecting users’ privacy – has understandably worried the skeptics.
I already deactivated my Facebook account – and I’ll activate it only to delete it entirely. There is literally ZERO chance I will ever make any use of Libra. I’d rather trade in seashells.