7 ms·
How else can facebook prevent people from moving on to wechat with its internal payment system? Why should people stick to facebook if wechat can offer a whole
by southerndrift 7y ago
How else can facebook prevent people from moving on to wechat with its internal payment system? Why should people stick to facebook if wechat can offer a whole bunch of services that need (micro) transactions?
- Nydhal 7y agoChina
- cwkoss 7y agoThey could just get a banking license and do a stored value wallet denominated in an existing currency.
- vertex-four 7y agoFacebook can have an internal payment system that uses local currencies. There is no reason it needs to create its own currency, except as a power grab. Building out a Paypal clone is fine enough.
- lonelappde 7y agoIt's not a power grab, it's an attempt to avoid taxes and regulation, same as all the game companies do with virtual currency.
- repolfx 7y agoHow can it be a power grab, Libra was going to be at least an open system with it's own wallet protocols and market for implementations. A WeChat style system would be totally closed from the ground up.
- vertex-four 7y agoNo, it was going to be open to partners that Facebook picks and chooses. It was very specifically not to be a fully decentralised blockchain, which essentially means it's actually a big permissioned database, which the database owners get to control.