{"id":12716,"date":"2019-06-24T13:42:36","date_gmt":"2019-06-24T17:42:36","guid":{"rendered":"http:\/\/www.wasobamaborninkenya.com\/blog\/?p=12716"},"modified":"2019-06-24T13:42:39","modified_gmt":"2019-06-24T17:42:39","slug":"if-facebook-or-google-create-their-own-currency-they-can-control-our-lives","status":"publish","type":"post","link":"https:\/\/www.wasobamaborninkenya.com\/blog\/if-facebook-or-google-create-their-own-currency-they-can-control-our-lives\/","title":{"rendered":"If Facebook or Google create their own currency, they can control our lives"},"content":{"rendered":"\n
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llustration by R Fresson <\/figcaption><\/figure>\n\n\n\n

The Guardian \/ Opinion<\/strong>, by John Harris — June 24, 2019<\/p>\n\n\n\n

Excerpt:<\/strong><\/p>\n\n\n\n

Facebook\u2019s Libra is the last thing the world needs \u2013 big tech\u2019s use of our data threatens to intrude even on financial transactions <\/strong><\/h3>\n\n\n\n

……………… Consider last week\u2019s news about <\/em>Facebook<\/em><\/a>, and the fact that three years of corporate disgrace \u2013 and rising noise from legislators about <\/em>bringing the tech giant to heel<\/em><\/a> \u2013 have yet to slow its terrifying quest to insinuate its workings into every area of our lives. Now, in a move that could have been taken from a futuristic novel, it wants to create nothing less than a new global currency.<\/em><\/p>\n\n\n\n

\u201cLibra\u201d will be pegged to a basket of mainstream currencies at a value of about a dollar, and rooted in the model of secure, immutable online transactions we know as blockchain. Its operations will be overseen by a new organisation based in Geneva, open to any company or corporation that has a value of at least $1bn (\u00a3790m) and will invest a minimum of $10m. There are currently <\/em>28 such participants<\/em><\/a>, ranging from Uber and Spotify to Mastercard \u2013 and by way of assuring sceptics of its supposedly hands-off intentions, Facebook insists its own voting power will be restricted to 1%. But Libra is a project conceived and developed by Mark Zuckerberg\u2019s company. And the currency will only perform the necessary feat of scaling up if it becomes a central part of the lives of the billions of us who use Facebook\u2019s platforms, via a linked app called Calibra that will initially be woven into Facebook Messenger and WhatsApp.<\/em><\/p>\n\n\n\n

……………………………………….<\/p>\n\n\n\n

View the complete article including image and links at:<\/strong><\/p>\n\n\n\n

https:\/\/www.theguardian.com\/commentisfree\/2019\/jun\/24\/facebook-google-currency-libra-financial-transactions<\/a><\/p>\n\n\n\n

<\/p>\n\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

The Guardian \/ Opinion, by John Harris — June 24, 2019 Excerpt: Facebook\u2019s Libra is the last thing the world needs \u2013 big tech\u2019s use of our data threatens to intrude even on financial transactions ……………… Consider last week\u2019s news … Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_links_to":"","_links_to_target":""},"categories":[1],"tags":[],"class_list":["post-12716","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.wasobamaborninkenya.com\/blog\/wp-json\/wp\/v2\/posts\/12716","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.wasobamaborninkenya.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.wasobamaborninkenya.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.wasobamaborninkenya.com\/blog\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/www.wasobamaborninkenya.com\/blog\/wp-json\/wp\/v2\/comments?post=12716"}],"version-history":[{"count":1,"href":"https:\/\/www.wasobamaborninkenya.com\/blog\/wp-json\/wp\/v2\/posts\/12716\/revisions"}],"predecessor-version":[{"id":12718,"href":"https:\/\/www.wasobamaborninkenya.com\/blog\/wp-json\/wp\/v2\/posts\/12716\/revisions\/12718"}],"wp:attachment":[{"href":"https:\/\/www.wasobamaborninkenya.com\/blog\/wp-json\/wp\/v2\/media?parent=12716"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.wasobamaborninkenya.com\/blog\/wp-json\/wp\/v2\/categories?post=12716"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.wasobamaborninkenya.com\/blog\/wp-json\/wp\/v2\/tags?post=12716"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}