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Shelly Palmer
CEO at The Palmer Group
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Libra, Facebook's proposed cryptocurrency, is in the news again. On Sunday, David Marcus, who heads the project, told a bunch of bankers that Libra's main goal was to create a more efficient payment system. When challenged about the current methodology, he offered several alternative financial structure: “We could definitely approach this with having a multitude of stablecoins that represent national currencies in a tokenized digital form. That is one of the options that should be considered.” Think about this... If Libra and Calibra are successful, Facebook will have control of information (Facebook, WhatsApp, and Instagram), weaponized information (a virtual military), and currency (Libra). Would that make Facebook the largest government on earth?
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