>Co-creator of Calibra David Marcus has posted an update on Facebook's Libra project today. He has published a new whitepaper for the project which includes several major changes.
>The project will now focus on providing individual stablecoins for specific fiat currencies, such as USD, EUR and GBP, as well as its Libra Coin. Instead of being backed by a basket of fiat currencies, the Libra coin will now be backed by the stablecoins. Smart contracts will keep its price linked to the combination of stablecoins.
>The pivot has been made following a strong backlash by regulators. As Decrypt reported, global regulators called for the project to be stopped in its tracks.
>The Libra network will now also have a comprehensive anti-money laundering and anti-terrorist protocols. It will be able to enforce sanctions over coins on the network, under requests from law enforcement. As a result, the coin will no longer be permissionless.
>the Libra coin will now be backed by the stablecoins and stable coins just got banned /thread
Grayson Miller
sergay betrayed us all, we were supposed to be all in this together
David Peterson
where can i buy this?
Thomas Jenkins
...chainlink?
Logan Cooper
libra
Ayden Gomez
nothing burger OP nice try
Bentley Watson
So chainlink could be used to aggregate the exchange rates between the different currencies that make up Libra
Carter Martinez
Stable coins that the central banks don't directly have their control over are banned*
I sincerely hope you're just being dumb ironically. If you can't see what is happening...
Eli Wilson
Oh, it's not out yet. Why would you want to buy libra? Just buy chainlink.
Dominic Murphy
This is 100% about helping the central banks retain a monopoly on issuance of currency and not allowing existing stable coins to become the "new fiat." They are literally going to steal the technology, create way more scrutinization capability with Libra, then implement their own "stable coins" so they can have total control over this BS nonsense economy.
Nolan Thompson
First thing I thought of when I saw his tweets was "Oh wow, this could be very good for Chainlink."
it's the first time that it's clicked to me how important LINK could be after seeing actual evidence and not just rumors/meme partnerships. Going to keep buying more LINK up until $5 I think.
Separately...if SWIFT isn't involved in this Libra project...this is a major attempt at an international coup.
Lucas Morris
And there’s nothing we can do except believe in defi
Joshua Rogers
Yes. And Chainlink will help do that.
If you're a capitalist libertarian and not just a purist, you're looking at Libra and thinking, "OK this sucks but how can I make money off of it?" The first thing that pops into your head when seeing those tweets should be 1) Facebook stock (boring) and 2) how are they going to keep those stablecoins pegged to currency in the smartcontract? Chainlink
I’m to dumb to know what is happening but I hold ethereum and bitcoin because they can’t ban them. They could take them off exchanges but they could make more money pumping the price.
Adam Turner
The call for banning stable coins came from the FSB, Financial Stability Board. Here's their press release on the matter: cryptobriefing.com/wp-content/uploads/2020/04/financial-stability-board-addressing-regulatory-supervisory-oversight-challenges-globals-stablecoin-arrangements-pdf.pdf Here's part of section 5, 'High-Level Recommendations for effective regulatory, supervisory, and oversight approaches to GSCs (Global Stable Coins): >6.Authorities should ensure that GSC arrangements have in place robust systems for safeguarding, collecting, storing and managing data. GSC arrangements should implement and operate data management systems that record and safeguard in a discoverable format relevant data and information collected and produced in the course of their operations, while conforming to all applicable data privacy requirements. Adequate controls should be in place to safeguard the integrity and security of both on-chain and off-chain data and conform to applicable data protection regulation.
Even the FUD is bullish.
James Sanders
Imagine thinking this is not an extremely bullish sign. No one remembers the normies coming out of the woodwork in 2012 / 2013?
Josiah Gomez
kek if anyone payed attention to WEF they would have seen this coming miles away
Ethan Davis
Probably meme account and they’re trolling as a black person?
Anthony Anderson
oh no, a black person that can read
Kayden Roberts
It is going to be fun to watch everyone claim they were an early adopter when they are shoving life's savings into Link at $25 and they still double and triple their money. Just like BTC and just like ETH - so much fun during these times when mainstream still hasn't invested in Link.
Connor Miller
Yeah, except normies are loading up right now, at $3.00, thanks to *link marines* retarded normie twitter shilling. Also, normies have way more money than you basement dwelling faggots because they have, you know, real jobs. So yeah you'll be the one with a small bag normies will dump on. Really makes you think huh?
>(((WEF))) I bet you also support sucking Israel cock
Zachary Moore
There's no way that LINK won't be $81,000 per token within the next 5 years
Matthew Brown
most of the faggots aren't gonna put in more than a few hundred dollars we'll be fine that said, chainlink marines on twitter are a disgrace
Matthew Gray
Good find op
Charles Cooper
There's a video of him talking about LINK so he's real
Ayden Campbell
jamie, stop plugging yourself with 300 followers.
Landon Gomez
Your bias and chainlink-centric view of the world is exhausting. And I say that holding over 70k link.
Adrian Allen
They will be able to ban Bitcoin indirectly in many ways with this technology. They could make it illegal to exchange digital currencies for bitcoin, you could have your credit or social score ruined if you buy bitcoin, etc.
Austin Fisher
you mean can't* read, that's the worst description on chainlink i've ever heard, and I've heard it all on here
