Content
@
0 reply
0 recast
0 reaction
christopher
@christopher
I worked a bit on Libra/Diem to support the consortium and thought it was a big step in the right direction. Payments are a mess. Was told the regulators shut Libra down. Didn’t realize sitting U.S. Senators directly threatened @davidmarcus and his team.. https://x.com/davidmarcus/status/1862867849988944361
1 reply
0 recast
30 reactions
christopher
@christopher
Move felt very understandable and easy to use. It ticked all the right boxes for building for the future. Rust, proof of authority, and the great staff engineering-led teams coordinating together. I could see us playing well and having the same goal. It didn’t seem risky. Then Visa, PayPal, Stripe, and eBay left..
1 reply
0 recast
14 reactions
christopher
@christopher
I notice now that PayPal actually left a few days before this letter was dated. What did PayPal know? This story is a classic tech drama but was oddly never investigated. I hope David can lead the conversation so all the pieces get put out there. I’m still super curious.
1 reply
1 recast
1 reaction
christopher
@christopher
Also what makes this funny is that Libra wasn’t a decentralized blockchain like Ethereum or Bitcoin.. it was a distributed ledger. So why kill this?
2 replies
0 recast
1 reaction
Daniel Fernandes
@dfern.eth
Well it was at peak mania post 2020 election, so blaming Facebook for the election result and this was a way to punish Zuck personally
1 reply
0 recast
1 reaction
Daniel Fernandes
@dfern.eth
That being said, Libra/Diem's plan wasn't all too different from Ripple & Stellar...create a new global currency based on what amounts to Federated Byzantine Agreements. I don't think 'more partners' involved would have made the difference. The magic is decentralized trust, everything else is window dressing.
0 reply
0 recast
0 reaction
