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Facebook might be a healthy competition between decentralized currencies, but it should not be compared to existing cryptos like
BTC, ETH, LTC and etc, while its focusing and has large threat to banks or even central banks itself.
With its centralized service Facebook will stand against more centralized financial institutions. Bitcoin, ethereum and most of the top altcoins were on a separate track compared to the plan from Facebook on its digital currency.
Already Facebook have some issues with the privacy data leak. So, to gain trust it is supposed to fulfill by overcoming the past bad image it has acquired.
Facebook does not really care about the bad image that they have acquired during the past years, getting all the information they can out of the people that use their platform is their business model and they are never going to change it, what they do care about is that governments and banks are opposing them and their efforts to create their coin and they know that they will be have to face those formidable opponents if they wished to release their coin and I am not sure they really want to do that.