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On the one hand, these are amazing developments that validate blockchain technology and its potential as a currency system, however, they are also drifting us away from the original vision of a decentralised monetary system. In February 2009, Satoshi wrote on a P2P online forum:
'The root problem with conventional currency is all the trust thats required to make it work
but the history of fiat currencies is full of breaches of that trust'
Taken from the article linked below, worth reading. Do you think the emergence of banking and corporate digital currencies will take away from the original cryptocurrencies or can they live in harmony?
https://medium.com/@marcus_61942/decentralised-cryptocurrencies-vs-digital-currencies-3811e36cc94fI don't think the Facebook GlobalCoin will pose much of a threat to bitcoin because it will be largely centralized and will simply be a stablecoin of a basket of leading fiat currencies. There will thus be no incentive for investors to use it unless moving funds between trades if they feel more secure with a basket as opposed to one particular fiat currency such as the U.S. dollar. So it can be seen as a hedge to U.S. dollar troubles.
Also, I expect this coin will be useful for those transmitting funds overseas, as presumably it will be much cheaper than using Western Union.