Facebook, Libra, and the Long Game – Stratechery by Ben Thompson🔒 stratechery.com
Ben Thompson with a thorough article about Facebook’s Libra and the trade-offs in it’s design, as well as where Facebook would win.
To put it another way, Libra has the potential to significantly decrease friction when it comes to the movement of money; of course this potential is hardly limited to Libra — the reduction in friction is one of the selling points of digital currencies generally — but by virtue of being supported by Facebook, particularly the Calibra wallet that will be both a standalone app and also built into Facebook Messenger and WhatsApp, accessing Libra will likely be much simpler than accessing other cryptocurrencies. When it comes to decreasing friction, simplifying the user experience matters just as much as eliminating intermediary institutions.
Good read if you are interested in this new thing that Facebook is going after.Posted on June 25, 2019 →