Interview location: Skype
Interview date: Monday 17th Jun, 2019
Company: Wyoming Blockchain Coalition
Facebooks venture into cryptocurrencies raises many questions. Will Libra coin lead to mass financial surveillance? Will Facebook share our data with governments? Will Libra be a net benefit for Bitcoin.
While many Bitcoiners are understandably cautious:
Facebook has a long history of abusing privacy
Libra is a centralised coin and likely not censorship resistant
The goal is to educate people about Bitcoin, not a proxy dollar coin
Still, the introduction of Libra does present an opportunity to further the growth in adoption of Bitcoin:
Over 2 billion people will be introduced to the term cryptocurrency
The Libra/Bitcoin chart will likely highlight the value of Bitcoin rising against Libra
Libra comes with much regulatory uncertainty, but it is also could be a tool for good in developing countries with poor fiscal discipline. Also, it is an opportunity to increase the reach and education of Bitcoin.
In this interview, I chat with Caitlin Long, co-founder of the Wyoming Blockchain Coalition, about Facebook’s venture into cryptocurrencies. We discuss interest payments, regulations, and why Libra will be good for Bitcoin.
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