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Ghostnipple

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  1. In short No, because Libra is centralized and Facebook will be deputised to carry out surveillance, monitoring of its users and report back to the local government in each jurisdiction that it operates within. It legally must fulfill the requirements under KYC, therefore its not open / borderless / neutral / censorship resistant / permissionless / or secure. Facebook is a centralized organisation that exists under different jurisdictions, in which they are required to carry out KYC. As part of KYC they are required to identify and vet the participants of every transaction. So Libra must comply and therefore; It is not open to all, in order to use it you have to be vetted and approved, under the guise of KYC Its not borderless, they will have to comply with sanctions and embargoes, border and export controls and currency regulations. It will only serve a few countries (similar to paypal). Its not neutral, they are required to prevent transactions between any number of specified organisations and individuals in each jurisdiction. It is not censorship resistant: Censorship is a legal mandate required in each jurisdiction under KYC, Facebook will be required to report to the relevant state institution in each jurisdiction. It is centrally controlled, so permission is required by programmers and developers, if they want to utilize it in some application or software development project. Why do you think so many people hate paypal?
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