Once is not custom, an article in “rant” mode with for object the essential Libra of Facebook, which we no longer present.
Difficult indeed to miss any information on the subject, as the success or failure of the latter feeds the conversations, both within the crypto community and behind the padded doors of HQs of Central Banks around the world.
But today’s fast-paced article will not echo a new rumor, or the umpteenth statement of this or that great global financier worried about the threat posed by the hegemonic project of the social giant.
No, today we are talking about trust and credibility, a value that Facebook swears adamantly to erect in the Pantheon of its concerns.
Be careful, it will disliker.
Confidence, the nerve of war
In response to the multiple concerns related in particular to data users and monitoring of financial transactions, David Marcus, head of the Libra project said it again recently:
“You will not have to trust Facebook to take advantage of Libra. ”
David Marcus, CEO of Libra, press release of July 3, 2019
Crypto addicts won’t fall out of the chair. They know very well how Distributed Registry Technologies (DLT) embodied by the blockchain allow to benefit from models known as “trustless“.
These models, by their own architecture, encourage their actors to be virtuous both by a system incentives, but also by a mechanical balance of forcesconsensus architecture.
Very big words to arrive at a simple result: The concept of trust becomes superfluous, the blockchain by its particular design relieving you of this horrible metaphysical and universal question: Am I not being tricked by the guy opposite?
Libra hiding the Facebook forest
All this is very elegant and, in a moment of bewilderment, it would be almost conceivable to consider that the Libra Foundation and the stablecoin of the same name will operate according to a certain number of rules, such as to guarantee transparency, fairness and – let’s be crazy – optimism regarding its independence: Libra would not be linked to Facebook and would afford the luxury of a functional trustless system, to the benefit of its users.
Except that this is deeply false. The Libra foundation will be able to show all the possible artifices in order to demonstrate that the Swiss entity will be completely independent from the Californian head office of the giant with the blue thumb, Libra is, and will remain, the creature of Mark Zuckerberg.
As such, considering that we grant blind trust (or that we do not trust, which amounts to the same thing) in Libra, implies for the time being that we grant the same degree of abandonment vis-à-vis live on Facebook … See where I’m coming from?
How Facebook is promoting a fake Libra sales site
Everyone knows more or less how the sponsored content on Facebook. These are classified ads that pop up without warning in your news feeds to encourage you to acquire without waiting for the last uselessness of the moment.
Everything, and especially anything, is potentially put forward in these pastilles, which are supposed to be governed by strict rules available here.
In short, talking about cryptocurrency and blockchain still works (by raising your hand and asking for authorization), but token sales are niet.
Seen like that, it looks pretty balanced, but in fact – and for having had the privilege of practicing the exercise – an article talking about crypto will be 9 times out of 10 retouched by the social network. The refusal, dry and fast, will also be accompanied by the devil sign and salt handles swung over the shoulder: Cryptocurrency is Evil!
Except for this kind of publication, there goes cream:
At this point you say to yourself: “You’re nice Hellmouth but when can we blame Facebook for promoting its own project?“
Very timely intervention friend reader! However, it’s hard to have escaped the fact that not only the Libra is not yet available for sale but that, even worse, it is not excluded that the project never even sees the light of day.
So what is this site including Facebook himself promote via paid sponsored content? You obviously guessed it: It’s abouta good big scam site for families as there are unfortunately many in the industry.
A quick glance at the specialized site Scam Advisor will finish convincing you:
Note that for the anecdote (and for those who still believe at this stage that it is a simple bug in the matrix), it is not the first time that I come across Facebook sponso content that links to a fake Libra sales site (I must have a pigeon profile).
As a responsible user and Zuckerbist convinced, I bravely reported content, without much result, while raging internally on the fact that this content is supposed to be verified one by one, by real humans, employed by Facebook.
Would it be so scandalous that we hope the interested parties equipped with the minimum of discernment required to be vaguely aware of the projects?Libratarians”(I deposit the copyright in passing) of their own employer? Or is this all a huge private joke?
The question at 1000 Libra: Facebook, trustworthy?
- Facebook is trying to convince us that the blockchain and cryptocurrencies represent the future and that he is a trusted player in the industry
- At the same time, Facebook is chasing content promoting this industry with the lack of subtlety and opacity that we know, applying rules with variable geometries.
- On the other hand, Facebook shows improbable laxity when it comes to protecting the community, pushing ridicule to promote – and get paid for it – a counterfeit of YOUR OWN CRYPTO PROJECT, without the slightest alarm sounding at HQ…
Faced with regulators and representatives of the global monetary intelligentsia, the Libra-Facebook entity is facing an outcry and is struggling to convince. There is no doubt that this kind of revelation will only reinforce its opponents regarding its inability to become a trusted player in an industry as sensitive as that of Finance.
Facebook France, requested had not yet reacted at the time of publication of this article.
Nice to meet you, it’s Hellmouth! Editor-in-chief of Bitcoin, the crypto media you are honoring to survey right now (well done, you have taste).
Crypto-enthusiast of the second hour, nothing is more important to me than supporting the global adoption and democratization of the treasures that the blockchain offers us.
I write articles between two cocktails in Tahiti, my adopted island, and do not hesitate, if the opportunity arises, to feast on a plump scam or a little too enterprising Ponzi pyramid.
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