Dataminer Facebook Also Wants Your Financial Information
Facebook unveils ‘its most invasive and dangerous form of surveillance yet’ with launch of Libra cryptocurrency –The Sun
“FACEBOOK is launching cryptocurrency next year that will allow people to move money from their smartphone into a digital ‘wallet’. Experts have branded the move a dangerous power grab that marks Facebook’s ‘most invasive’ form of surveillance yet. So far, Facebook has enlisted 28 firms, including Spotify and Uber, who each had to invest a minimum of $10 million to be a founding member of the Libra Association, an independent not-for-profit membership organization. It wants to attract 100 businesses in time for launch, which it is aiming for the first half of 2020….Facebook will operate its own digital wallet for people to spend Libra, known as the Calibra Wallet, which will be available in WhatsApp, Facebook Messenger and as a standalone app. Users will be able to send money to each other initially, at low to no cost, the social network said….Phil Chen, Decentralized Chief Officer at HTC, said the move was part of a ‘dangerous’ power grab by Facebook. ‘If you’re concerned with Facebook knowing too much or having too much access to your private data or social graph, the GlobalCoin will give Facebook even more direct access to your financial information,’ he told The Sun. ‘It’s not just access to the information of your transactions, it’s direct access to your wealth and capital. This project is the antithesis of bitcoin and is another step towards total control of data and users.'”
Facebook value goes crypto –Ponte/WND
“Facebook, the social network, announced on Jan. 30, 2018, that it would ban all ads for Bitcoin and other cryptocurrencies in order to stop promotions that it sees as ‘frequently associated with misleading or deceptive promotional practices.’…Eighteen months later, on June 18, Facebook planned to issue a White Paper unveiling details of its own cryptocurrency, to be known as Libra….Unlike wildly speculative cryptocurrencies such as Bitcoin, the Libra will be a ‘stablecoin’ whose value is reliably pegged to a ‘basket’ of various government paper fiat currencies, as well as low-risk stocks, and perhaps even gold to provide the new coin counter-cyclic insurance….On the day it launches, Libra will have a larger customer base than most of the world’s central banks. This could be the entire population of every nation south of Earth’s equator plus India – one-third of humankind….Because the Libra coin will be openly trackable and taxable by government, and will offer no more privacy than Facebook grants its other customers, critics say it should not even be called cryptocurrency….Libra could quickly become widely used money in many Third World nations, where banking is unreliable, corrupt, expensive or difficult to use. This means that Libra joins Russia and China in undermining America’s lucrative ‘exorbitant privilege’ as printer of the U.S. dollar, the world’s reserve currency, as well as speeding the ‘cashless society.’ Mark Zuckerberg could expand from being only the world’s leading left-leaning free speech censor to one of the world’s most powerful bankers, which could make him emperor on a par with China’s ‘social credit’ conformist dictatorship.”
