Libra is just another payment system that still follows the same old status quo, and is okay with regulators.

One can’t control Blockchain. Blockchain is a ledger. It’s an accounting ledger. Whatever you put in the ledger, is what it is. Can’t be forged. That’s how money or transaction was long ago. Somewhere in time we all got lost, end up manipulating markets, hence all the crashes. Banks create numbers out of thin air, to make money quickly and trade. That’s not sound.

Many Banks, Businesses, and Governments are trying to take the existing ways of doing things and trying to apply it to Blockchain and I say it can’t be done. For Blockchain is—DEcentralize.

However, banks and many governments don’t want Bitcoin, a true Blockchain. Why? Because Bitcoin does not allow arbitrary numbers unaccounted for or have anyone inputs, like banks and businesses do with Fiat (dollar, euro, pound, yen, etc.)

Yes, Crypto is volatile, but it is due to few being in the industry, and few regulators having knowledge about the technology.

Absolutely, Bitcoin consumes a lot of energy. There are Crypto and Blockchain industries that are working to find renewable energy solutions to combat that right now. I think we ought to be investing in them more than any other industry.

Netflix documentary, The Great Hack shows how when people’s personal data is used without their knowledge for purposes they never approved of, it can get awry and eventually dangerous. Which is why the individual must own their data.

Another reason for Libra I do think, is it’s a way for Facebook to truly be a competitor of WeChat.

You see, Facebook is currently in the phase of consolidating all of their apps they acquired through the years: WhatsApp and Instagram, with their Messenger and Social Media Platforms. WeChat is quite similar, however WeChat all of Chinese citizens use the app to make payment transactions.

On top of that, China’s Government has started implementing a Social Credit Score similar to what we see in the Netflix episode of Black Mirror, Nosedive, starring Bryce Dallas Howard. If you have not seen it, I do recommend. 

So will Libra not only be a competition for the Central Bank but also WeChat/Black Mirror? 

I tell you, I see the future and if we’re not on top of this matter, it can get messy. Cambridge Analytic will be just a blip.