Post
Topic
Board Altcoin Discussion
Re: US senators wants to know why Facebook wants crypto
by
coco23
on 12/05/2019, 05:52:36 UTC
They essentially asked whether it would enable users to have privacy and would make it harder for the government to monitor every personal and financial moves of people in the US and around the world.
Fair questions, even though the government has clearly different concerns than I do. Facebook is not known as a company fighting for decentralization or privacy. I also wonder what they want to achieve with a (decentralized?) cryptocurrency. Facebook could simply implement a centralized payment option in any currency (Dollar, Euro, Facebook fanstasy token, whatever) which probably can achieve the same things for their purposes.

Even if they have a "real" cryptocurrency, they will never give up their control over it in terms of payment processing (mining), privacy and code. To me it seems like Facebook it only following the hype and wants to put in "buzzwords".