I honestly interpret this to be good news. These are a bunch of financial powerhouses leaving, and it presents a big blow to Facebook. I think this shows FB's sands really are shifting; there's...
I honestly interpret this to be good news. These are a bunch of financial powerhouses leaving, and it presents a big blow to Facebook. I think this shows FB's sands really are shifting; there's not much consumer trust in them at the moment, so is this next big venture of theirs worth it for anyone?
This shakeup today leaves no US payment processor onboard the project.
It seems like Facebook charged blindly ahead into a briar patch of regulations and uncertainty they didn't understand and weren't prepared to handle. The other players were happy to let them take...
It seems like Facebook charged blindly ahead into a briar patch of regulations and uncertainty they didn't understand and weren't prepared to handle. The other players were happy to let them take the risk, right up until they would have had to share some of those risks and be subjected to increased scrutiny from regulators. If they don't have enough faith in Facebook's plans to get some skin in the game, it's hard to see how this project can get off the ground.
I think it's good news as well. Facebook could certainly put functional crypto into everyone's pockets through their platform, but it would be their crypto. I'm not a fan of building a global payment network that's controlled by a single major tech company, one that requires you to use their services. Something that powerful needs a better stakeholder model to be trustworthy.
I honestly interpret this to be good news. These are a bunch of financial powerhouses leaving, and it presents a big blow to Facebook. I think this shows FB's sands really are shifting; there's not much consumer trust in them at the moment, so is this next big venture of theirs worth it for anyone?
This shakeup today leaves no US payment processor onboard the project.
It seems like Facebook charged blindly ahead into a briar patch of regulations and uncertainty they didn't understand and weren't prepared to handle. The other players were happy to let them take the risk, right up until they would have had to share some of those risks and be subjected to increased scrutiny from regulators. If they don't have enough faith in Facebook's plans to get some skin in the game, it's hard to see how this project can get off the ground.
I think it's good news as well. Facebook could certainly put functional crypto into everyone's pockets through their platform, but it would be their crypto. I'm not a fan of building a global payment network that's controlled by a single major tech company, one that requires you to use their services. Something that powerful needs a better stakeholder model to be trustworthy.