The government banned Facebook Libra – expert opinions

Власть запретит Libra Facebook - мнения экспертов

In the opening day of the cryptocurrency Facebook Libra has provoked predictions about bans around the world.

Libra, Protocol Facebook, which is now open to the world in a few clumsy website, first place cryptocurrency of the same name.

It will function as a system of transfer values – stabilin – in Facebook and it will be “easily” converted into cash, say the developers.

However, do not have time this utility to appear as provoked alarming predictions. Knowing that Libra is an alternative Vietnam money outside the control of Central banks, the government may prohibit to use it to its citizens.

Facebook says it will require users identity, but the idea of the company to become centralised centre charges and value for user base, which can contain billions, scares the Pro-government forces.

One example of how this happens has led Russian economist, suggesting that Russia will stop their citizens to use blocking Libra Facebook, WhatsApp and Instagram.

The only thing Libra Facebook will face is locking in the Russian territory,

– wrote Vladislav Glinka after the publication of the White Paper.

He added that the advent of such crypto currencies will increase demand for bitcoin, despite the fact that, in his opinion, Libra is not “cryptocurrency” in General.

Concerns about the reaction of governments has published such mainstream media as the Financial Times, which describes it as “nothing more than a blatant attempt to override national monetary sovereignty by creating a global equivalent of the Federal reserve system.”

I would not be surprised if a technology company that is involved in this, think they have enough power to end this,

– continued the Bitcoin Core developer Peter Todd (Peter Todd).

Saying that Libra will last three months before it stops, Todd claimed that it was self-love, which fueled 100 corporate partners Facebook.

Perhaps the work of cognitive blindness among managers of lower level, that they will never be arrested, do not understand the power of ships/weapons

he added.

The analysis of published documents casts doubt on the long-term prospects, even if the regulatory obstacles will disappear.

Libra sounds pretty good legal system, but it faces numerous long-term challenges. Oh, and it’s not a blockchain.

The developers promise a transition to the algorithm Proof-of-Stake, but it involves overcoming problems faced by coins such as Ethereum on its way, says Creator Jameson Lopp (Jameson Lopp).

I’m sure it’s the world’s first distributed network when the transition will take place from allowed to scedosporium,

he concluded, noting that the network Libra with no obvious characteristics of the blockchain.

Todd agreed:

Struck by how unfair White Paper Facebook Libra. They repeatedly described Libra as decentralized, but it is obvious that it is not.

Reminds me of how often scientists are lying to my clients claiming that their trusted solutions are unreliable / decentralized.