Audio Of The Week: Libra On The Unconfirmed Podcast
I posted earlier this week on Libra and USV’s involvement in this project
Laura Shin had Dante Disparte of the Libra Association on her Unconfirmed Podcast yesterday.
This is a good and relatively quick way to get up to speed on Libra and how it has been structured.
Bretton Woods II.——————–One for your return flight;https://www.youtube.com/wat…
1. Alexander Hamilton, founding father -> Central Bank, US Mint, Federal debt2. Harry Dexter White, Chief International Economist US Treasury Department -> Bretton Woods -> US Dollar becoming the world currency (technically till 1970)3. Facebook + 20 VC’s -> new economic world order???future will tell…./cc @girishmehta @jameshrh @jlm
“3. Facebook + 20 VC’s -> new economic world order???”To stand against that would have great moral virtue.The VCs are hedged for whatever outcome there may be. Facebook isn’t. I don’t predict outcomes, but Libra opens up the possibility that Facebook will eventually fall.
Great, a currency and financial system that isn’t beholden to a democratic institution, what could wrong? Even more exciting, borderless money transfers from a notorious opaque company, really innovating on a better money laundering service to oligarchs who need to get their wealth out of certain authorities jurisdiction.At least this is the invisible hand at work, The City of London will finally have to improve their service to participate in this new and evolving market.
So many jokes in comment threads about Facebook’s Libra – how no one trusts Facebook, and Facebook decides it’s a good idea to try to launch their own currency; and it’s true the cognitive dissonance that exists, however people underestimate how powerful these global brands are and how susceptible people are. Fortunately the EU, and the US in part, seem to have their attention drawn in a serious manner due to Facebook signalling in such a way.
CONTRIBUTORS:Parable of the Rich Fool is a parable of Jesus which appears in Luke 12:16-21.Captain Obvious!#UNEQUIVOCALLYUNAPOLOGETICALLYINDEPENDENT
This will be some listen 5 years down the road!!!
He is extremely articulate.A breath of fresh air amongst cryptocurrency projects. It sets the bar for others. They don’t mince words when it comes to their goal of creating a new global currency that will rest on a better global financial system that the current extremely inefficient one.
I disagree that global finance is inefficient. There might be bad actors (Zimbabwe, Venezuela, Argentina etc) but it’s not inefficient
It seems pro-decentralization people are happily ignorant of the intricacies of what the monetary system fully facilitates, and the mostly purposeful friction that is in place.
I’m referring to the way banks inter-connect with each other, and silo everything then patch things when there is a need to connect. That’s the reference in the podcast and I agree with it. There are many inherent inefficiencies in the system. I’m not saying we need to obliterate the current system, but it would be good to have a truly global financial institution that is more or less boundaryless.
My country legalizes an activity. Yours bans it. There has to be a regulatory wall.I thought the discussion on FT of the SBD part of the banking system em was germane. Very interestingI have no love for bankers but many of the bottlenecks exist for a reason
Agreed on the local peculiarities, but maybe there is a layer of commonalities that can traverse boundaries with no issues. At least, that’s the hope.
Why is Facebook constantly conflating cross-border remittances with “banking the unbanked”? Wrote more here.. https://twitter.com/cavepai…
https://www.banking.pipit.g… can already be done
> “banking the unbanked”My reading is “Facebooking the UnFacebooked.”If they can create a financial platform that pushes the non-FB users of the world into their ecosystem, they gain a huge swath of the those outside their user base.
https://ftalphaville.ft.com… FT analysis